827 s. boulder highway, henderson, nv 89015€¦ · 827 s. boulder highway, henderson, nv 89015. 2...

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1 | 827 S. Boulder Highway - Offering Memorandum Renae Russo, LEED GA Vice President 702-968-7319 [email protected] Exclusively listed by Sun Commercial Real Estate, Inc.: Sun Commercial Real Estate, Inc. FOR SALE 827 S. Boulder Highway, Henderson, NV 89015

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Page 1: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

1 | 827 S. Boulder Highway - Offering Memorandum

Renae Russo, LEED GAVice President702-968-7319

[email protected]

Exclusively listed by Sun Commercial Real Estate, Inc.:

SunCommercial Real Estate, Inc.

FOR SALE827 S. Boulder Highway, Henderson, NV 89015

Page 2: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

2 | 827 S. Boulder Highway - Offering Memorandum

SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro-forma is delivered only as an accommodation and neither the Seller, Broker , nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro-forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Renae Russo, LEED GA Cathy Jones, CPA, SIOR, CCIMVice President CEO/[email protected] [email protected]

Confidentiality & disClosure

Page 3: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

3 | 827 S. Boulder Highway - Offering Memorandum

Investment SummaryProperty PhotosFloor PlansSite Plan

MARKET OVERVIEW

LOCATION OVERVIEW

Las Vegas Office & SE/Henderson Submarket ReviewLas Vegas Industrial & SE/Henderson Submarket Review Area Demographics

Assessor Parcel MapLas Vegas Valley Location MapSurrounding Aerial Map

PROPERTY OVERVIEW

4568

91011

1213

14-16

table of Contents

Renae Russo, LEED GAVice President702-968-7319

[email protected]

6140 Brent Thurman Way, Suite 140Las Vegas, Nevada 89148

702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com

ContaCt information

Page 4: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

THE OFFERING

Sun Commercial Real Estate, Inc. is pleased to offer an exceptional opportunity to purchase a single story free-standing +/- 8,000 square foot industrial and office property. The property offers excellent exposure on S. Boulder Highway with easy access to I-215.

INVESTMENT HIGHLIGHTS

• Asking Price: $880,000 / $110 PSF• Ideal for Investor and or Owner/User• Zoned: MD Corridor/Community Mixed Use• APN: 179-20-515-001• Traffic Counts of over +/- 25,000 cars per day• Parking Ratio: 3/1000

PROPERTY LOCATION

The Property is located at the Southeast corner of Haynes Drive and S. Boulder Highway, having the civic address of 827 S. Boulder Highway, Henderson, NV 89015. Property is conveniently located near a variety of major retail amenities and is directly across from Henderson Village Shopping Center.

PROPERTY DESCRIPTION

The total property is comprised ± 8,000 SF industrial building and two office spaces with separate entrances. Napa Auto Parts currently occupies ± 5,900 SF until October 1, 2018.

investment summary

4 | 827 S. Boulder Highway - Offering Memorandum

• 1 Grade Level Door• Security System, cameras inside and outside of Napa Auto

Parts• Corner Pylon Signage Available• 208/120 3 Phase Power• Napa’s monthly rental rate is $6,637.00

Page 5: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

5 | 827 S. Boulder Highway - Offering Memorandum

ProPerty Photos

Page 6: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

6 | 827 S. Boulder Highway - Offering Memorandum

floor Plan

Office 1±900 SF

Office 2±1,200 SF

Page 7: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

7 | 827 S. Boulder Highway - Offering Memorandum

floor Plan

available oCtober 1, 2018

Roll Up Door

±5,900 SF

NAPA AUTO PARTS

Page 8: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

8 | 827 S. Boulder Highway - Offering Memorandum

site Plan

SIGNAGE HERE

Subject Property

S BOULDER HWY

HAYNES DR

N

Page 9: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

9 | 827 S. Boulder Highway - Offering Memorandum

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NO

TES

This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

MA

P LE

GE

ND

USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 4/13/2016

T22S R63E 20 N 2 NE 4 179-20-5

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ROAD PARCEL NUMBERPARCEL NUMERACREAGE

PARCEL SUB/SEQ NUMBER

PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER

10010011.00

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TAX DIST

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CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL

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189190

160161

181

186

158180

188177

159

191

162

Michele W. Shafe - Assessor

>

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This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

MA

P LE

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USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 4/13/2016

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179178

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Michele W. Shafe - Assessor

assessor ParCel maP

Page 10: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

10 | 827 S. Boulder Highway - Offering Memorandum

las vegas valley loCation maP

Page 11: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

11 | 827 S. Boulder Highway - Offering Memorandum

surrounding aerial maP

SUBJECT PROPERTY

S BOULDER HWY - ±25,000 CPD

BURKHOLDER BLVD

N MAJOR AVE

LAKE MEAD PKWYS PUEBLO BLVD

Victory Village Plaza

Page 12: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

12 | 827 S. Boulder Highway - Offering Memorandum

las vegas offiCe & se/henderson submarket review

8 CoStar Office Statistics ©2017 CoStar Group, Inc.

Las Vegas � Third Quarter 2017

Las Vegas Office MarketThird Quarter 2017 – Las Vegas

Las Vegas Office Market

©2017 CoStar Group, Inc. CoStar Office Statistics 9

Class A Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas 7 1,278,818 267,354 267,354 20.9% 26,796 0 0 $28.55 Central North Las Vegas 2 273,958 14,119 14,119 5.2% (8,845) 0 0 $30.00 Downtown Las Vegas 10 1,791,889 221,245 223,570 12.5% (50,787) 0 0 $32.25 North Las Vegas 0 0 0 0 0.0% 0 0 0 $0.00 Northwest Las Vegas 19 1,926,486 427,697 429,535 22.3% 110,999 57,966 0 $24.95 SE Las Vegas/Henderson 3 296,443 146,140 146,140 49.3% 36,825 78,800 0 $26.11 South Las Vegas 22 1,728,957 132,828 152,658 8.8% 31,231 0 108,195 $23.28 Southwest Las Vegas 23 3,097,312 148,174 176,476 5.7% 244,607 180,000 174,900 $24.85 West Las Vegas 5 625,138 94,172 94,172 15.1% 111,161 0 0 $24.79

Totals 91 11,019,001 1,451,729 1,504,024 13.6% 501,987 316,766 283,095 $26.35

Source: CoStar Property®

Class B Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas 175 5,163,544 1,076,795 1,111,459 21.5% (33,454) 16,505 0 $18.29 Central North Las Vegas 49 1,422,330 85,810 85,810 6.0% 11,639 0 0 $18.11 Downtown Las Vegas 64 2,721,616 127,535 129,888 4.8% 32,400 0 0 $21.72 North Las Vegas 149 2,018,765 233,044 233,044 11.5% 26,024 3,457 0 $14.55 Northwest Las Vegas 352 7,239,702 1,114,049 1,114,049 15.4% 164,616 9,958 15,663 $18.18 SE Las Vegas/Henderson 83 1,193,140 210,169 210,169 17.6% (24,348) 17,000 0 $15.29 South Las Vegas 526 9,839,032 1,383,654 1,417,259 14.4% 97,470 6,705 82,000 $17.31 Southwest Las Vegas 505 8,072,741 1,254,938 1,315,773 16.3% 180,366 72,000 119,378 $20.09 West Las Vegas 395 6,382,295 712,668 890,818 14.0% 22,389 0 6,665 $15.26

Totals 2,298 44,053,165 6,198,662 6,508,269 14.8% 477,102 125,625 223,706 $17.90

Source: CoStar Property®

Class C Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas 475 2,736,559 351,712 351,712 12.9% 19,718 0 0 $11.94 Central North Las Vegas 91 661,903 41,738 41,738 6.3% (2,299) 0 0 $17.11 Downtown Las Vegas 252 935,659 116,672 116,672 12.5% 15,611 0 0 $17.77 North Las Vegas 59 450,800 59,033 59,033 13.1% 223 0 0 $17.68 Northwest Las Vegas 179 925,962 21,520 21,520 2.3% 2,029 0 0 $14.33 SE Las Vegas/Henderson 71 491,013 71,288 77,512 15.8% (20,331) 0 0 $12.79 South Las Vegas 215 1,193,382 117,211 117,211 9.8% 13,212 0 0 $14.48 Southwest Las Vegas 54 370,664 18,892 18,892 5.1% 21,248 0 0 $13.44 West Las Vegas 146 816,426 69,554 69,554 8.5% 49 0 0 $14.75

Totals 1,542 8,582,368 867,620 873,844 10.2% 49,460 0 0 $13.70

Source: CoStar Property®

Total Office Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas 657 9,178,921 1,695,861 1,730,525 18.9% 13,060 16,505 0 $18.79 Central North Las Vegas 142 2,358,191 141,667 141,667 6.0% 495 0 0 $18.26 Downtown Las Vegas 326 5,449,164 465,452 470,130 8.6% (2,776) 0 0 $25.83 North Las Vegas 208 2,469,565 292,077 292,077 11.8% 26,247 3,457 0 $14.78 Northwest Las Vegas 550 10,092,150 1,563,266 1,565,104 15.5% 277,644 67,924 15,663 $20.18 SE Las Vegas/Henderson 157 1,980,596 427,597 433,821 21.9% (7,854) 95,800 0 $18.17 South Las Vegas 763 12,761,371 1,633,693 1,687,128 13.2% 141,913 6,705 190,195 $17.71 Southwest Las Vegas 582 11,540,717 1,422,004 1,511,141 13.1% 446,221 252,000 294,278 $20.56 West Las Vegas 546 7,823,859 876,394 1,054,544 13.5% 133,599 0 6,665 $16.74

Totals 3,931 63,654,534 8,518,011 8,886,137 14.0% 1,028,549 442,391 506,801 $19.14

Source: CoStar Property®

Vacancy

Existing Inventory Vacancy

Existing Inventory Vacancy

Existing Inventory

Existing Inventory Vacancy

Figures at a Glance

20 CoStar Office Statistics ©2017 CoStar Group, Inc.

Las Vegas – Third Quarter 2017

Las Vegas Office MarketMarket Highlights – Class “A, B & C”

©2017 CoStar Group, Inc. CoStar Office Statistics 21

Third Quarter 2017 – Las Vegas

Las Vegas Office MarketMarket Highlights – Class “A, B & C”

S E L a s V e g a s / H e n d e r s o n M a r k e t

Deliveries, Absorption & Vacancy Historical Analysis, All Classes

Source: CoStar Property®

Vacant Space Quoted Rental RatesHistorical Analysis, All Classes Historical Analysis, All Classes

Source: CoStar Property® Source: CoStar Property®

Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates

2017 3q 157 1,980,596 433,821 21.9% (810) 0 0 0 0 $18.17

2017 2q 157 1,980,596 433,011 21.9% 3,566 2 89,300 0 0 $18.25

2017 1q 155 1,891,296 347,277 18.4% (10,610) 1 6,500 2 89,300 $19.32

2016 4q 154 1,884,796 330,167 17.5% 15,407 0 0 2 85,300 $15.44

2016 3q 154 1,884,796 345,574 18.3% 1,283 0 0 2 85,300 $18.59

2016 2q 154 1,884,796 346,857 18.4% (1,196) 0 0 2 85,300 $18.03

2016 1q 154 1,884,796 345,661 18.3% 16,867 0 0 1 6,500 $19.01

2015 4q 154 1,884,796 362,528 19.2% 17,726 0 0 1 6,500 $14.14

2015 3q 154 1,884,796 380,254 20.2% 36,370 0 0 0 0 $18.16

2015 2q 154 1,884,796 416,624 22.1% 10,505 0 0 0 0 $17.95

2015 1q 154 1,884,796 427,129 22.7% 9,438 0 0 0 0 $19.22

2014 4q 154 1,884,796 436,567 23.2% (38,967) 1 10,000 0 0 $14.15

2014 3q 153 1,874,796 387,600 20.7% 6,921 0 0 1 10,000 $18.95

2014 2q 153 1,874,796 394,521 21.0% 55,749 0 0 1 10,000 $18.99

2014 1q 153 1,874,796 450,270 24.0% 29,934 0 0 1 10,000 $20.86

2013 4q 153 1,874,796 480,204 25.6% (1,018) 0 0 1 10,000 $14.59

Source: CoStar Property®

UC InventoryDelivered InventoryExisting Inventory Vacancy

(0.060)

(0.040)

(0.020)

0.000

0.020

0.040

0.060

0.080

0.100

2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q

Millions

SF

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

Percen

t Vacan

t

Delivered SF Absorption SF Vacancy

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

2016 1q 2016 3q 2017 1q 2017 3q

Dollar

s/SF

/Yea

r

0.00

0.05

0.10

0.15

0.20

0.25

0.30

0.35

0.40

0.45

0.50

2016 1q 2016 3q 2017 1q 2017 3q

Millions

SF

Direct SF Sublet SF

Page 13: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

13 | 827 S. Boulder Highway - Offering Memorandum

las vegas industrial & se/henderson submarket review

8 CoStar Industrial Statistics ©2017 CoStar Group, Inc.

Las Vegas � Third Quarter 2017

Las Vegas Industrial MarketThird Quarter 2017 – Las Vegas

Las Vegas Industrial Market

©2017 CoStar Group, Inc. CoStar Industrial Statistics 9

Flex Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Airport/E Las Vegas Ind 134 2,731,116 299,449 301,448 11.0% 47,192 0 0 $11.54

Central Las Vegas Ind 122 6,453,959 75,185 85,485 1.3% (613) 0 0 $14.02

North Las Vegas Ind 165 2,163,758 141,010 143,428 6.6% (3,317) 0 0 $7.33

Northwest Las Vegas Ind 20 443,166 48,647 48,647 11.0% 11,566 0 0 $11.29

SE LV/Henderson Ind 95 1,202,196 98,234 98,234 8.2% 8,383 0 0 $8.80

Speedway Ind 13 349,949 22,800 22,800 6.5% 9,028 0 0 $5.54

SW Las Vegas Ind 250 4,785,502 569,303 576,814 12.1% (24,023) 295,500 0 $10.57

West Las Vegas Ind 157 3,640,862 329,891 329,891 9.1% (4,817) 0 0 $9.67

Totals 956 21,770,508 1,584,519 1,606,747 7.4% 43,399 295,500 0 $10.17

Source: CoStar Property®

Warehouse Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Airport/E Las Vegas Ind 362 12,291,095 857,017 916,233 7.5% 1,067 27,000 27,000 $8.15

Central Las Vegas Ind 365 7,004,806 465,705 465,705 6.6% 44,077 0 0 $7.77

North Las Vegas Ind 898 33,295,498 2,632,274 2,744,983 8.2% 519,891 1,195,956 4,479,019 $5.56

Northwest Las Vegas Ind 20 462,936 2,512 2,512 0.5% 42,368 0 0 $10.76

SE LV/Henderson Ind 438 14,976,622 997,756 1,025,026 6.8% 332,250 548,990 980,240 $6.47

Speedway Ind 51 3,416,664 200,145 200,145 5.9% 88,072 0 0 $5.29

SW Las Vegas Ind 779 25,646,348 1,430,061 1,463,730 5.7% 299,822 235,938 35,000 $7.87

West Las Vegas Ind 302 7,117,529 342,317 342,317 4.8% 73,937 0 0 $8.84

Totals 3,215 104,211,498 6,927,787 7,160,651 6.9% 1,401,484 2,007,884 5,521,259 $6.75

Source: CoStar Property®

Total Industrial Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Airport/E Las Vegas Ind 496 15,022,211 1,156,466 1,217,681 8.1% 48,259 27,000 27,000 $8.96

Central Las Vegas Ind 487 13,458,765 540,890 551,190 4.1% 43,464 0 0 $8.32

North Las Vegas Ind 1,063 35,459,256 2,773,284 2,888,411 8.1% 516,574 1,195,956 4,479,019 $5.62

Northwest Las Vegas Ind 40 906,102 51,159 51,159 5.6% 53,934 0 0 $11.20

SE LV/Henderson Ind 533 16,178,818 1,095,990 1,123,260 6.9% 340,633 548,990 980,240 $6.62

Speedway Ind 64 3,766,613 222,945 222,945 5.9% 97,100 0 0 $5.32

SW Las Vegas Ind 1,029 30,431,850 1,999,364 2,040,544 6.7% 275,799 531,438 35,000 $8.25

West Las Vegas Ind 459 10,758,391 672,208 672,208 6.2% 69,120 0 0 $9.10

Totals 4,171 125,982,006 8,512,306 8,767,398 7.0% 1,444,883 2,303,384 5,521,259 $7.16

Source: CoStar Property®

Existing Inventory Vacancy

Existing Inventory Vacancy

Existing Inventory Vacancy

Figures at a Glance

18 CoStar Industrial Statistics ©2017 CoStar Group, Inc.

Las Vegas – Third Quarter 2017

Las Vegas Industrial MarketMARKET HIGHLIGHTS - Flex & Warehouse

©2017 CoStar Group, Inc. CoStar Industrial Statistics 19

Third Quarter 2017 – Las Vegas

Las Vegas Industrial MarketMARKET HIGHLIGHTS - Flex & Warehouse

S E L V / H e n d e r s o n M a r k e t

Deliveries, Absorption & Vacancy Historical Analysis, Flex and Warehouse

Source: CoStar Property®

Vacant Space Quoted Rental RatesHistorical Analysis, Flex and Warehouse Historical Analysis, Flex and Warehouse

Source: CoStar Property® Source: CoStar Property®

Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates

2017 3q 533 16,178,818 1,123,260 6.9% 112,398 3 69,980 6 980,240 $6.62

2017 2q 530 16,108,838 1,165,678 7.2% 106,615 3 239,010 8 853,100 $6.67

2017 1q 527 15,869,828 1,033,283 6.5% 121,620 1 240,000 8 906,110 $6.70

2016 4q 526 15,629,828 914,903 5.9% 9,019 2 403,000 8 948,990 $6.85

2016 3q 524 15,226,828 520,922 3.4% 236,162 0 0 9 951,990 $6.80

2016 2q 524 15,226,828 757,084 5.0% 32,533 1 232,856 4 622,730 $6.67

2016 1q 523 14,993,972 556,761 3.7% (21,353) 0 0 1 232,856 $6.62

2015 4q 523 14,993,972 535,408 3.6% 53,603 0 0 1 232,856 $6.56

2015 3q 523 14,993,972 589,011 3.9% (39,141) 0 0 0 0 $6.38

2015 2q 523 14,993,972 549,870 3.7% 91,579 0 0 0 0 $6.31

2015 1q 523 14,993,972 641,449 4.3% 39,776 0 0 0 0 $6.26

2014 4q 523 14,993,972 681,225 4.5% 336,257 0 0 0 0 $6.13

2014 3q 523 14,993,972 1,017,482 6.8% 154,158 0 0 0 0 $6.06

2014 2q 523 14,993,972 1,171,640 7.8% 162,140 0 0 0 0 $5.83

2014 1q 523 14,993,972 1,333,780 8.9% 270,550 2 368,845 0 0 $5.80

2013 4q 521 14,625,127 1,235,485 8.4% 311 0 0 2 368,845 $5.96

Source: CoStar Property®

UC InventoryDelivered InventoryExisting Inventory Vacancy

(0.100)

(0.050)

0.000

0.050

0.100

0.150

0.200

0.250

0.300

0.350

0.400

0.450

2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q

Millions

SF

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

Percen

t Vacan

t

Delivered SF Absorption SF Vacancy

$6.50

$6.55

$6.60

$6.65

$6.70

$6.75

$6.80

$6.85

$6.90

2016 1q 2016 3q 2017 1q 2017 3q

Dollar

s/SF

/Yea

r

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

2016 1q 2016 3q 2017 1q 2017 3q

Millions

SF

Direct SF Sublet SF

Page 14: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

14 | 827 S. Boulder Highway - Offering Memorandum

area demograPhiCs (1 mile radius)Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 1 mile radius Latitude: 36.02655

Longitude: -114.96765

Summary Census 2010 2016 2021Population 13,157 13,844 14,727Households 5,006 5,206 5,504Families 3,188 3,306 3,491Average Household Size 2.57 2.60 2.62Owner Occupied Housing Units 2,734 2,627 2,795Renter Occupied Housing Units 2,272 2,579 2,709Median Age 37.5 38.5 39.2

Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.24% 1.43% 0.84%Households 1.12% 1.30% 0.79%Families 1.09% 1.28% 0.72%Owner HHs 1.25% 1.29% 0.73%Median Household Income 1.91% 2.14% 1.89%

2016 2021 Households by Income Number Percent Number Percent

<$15,000 815 15.7% 894 16.2%$15,000 - $24,999 596 11.4% 613 11.1%$25,000 - $34,999 593 11.4% 682 12.4%$35,000 - $49,999 760 14.6% 526 9.6%$50,000 - $74,999 1,091 21.0% 1,117 20.3%$75,000 - $99,999 610 11.7% 726 13.2%$100,000 - $149,999 516 9.9% 677 12.3%$150,000 - $199,999 119 2.3% 151 2.7%$200,000+ 107 2.1% 118 2.1%

Median Household Income $45,981 $50,532Average Household Income $59,432 $63,955Per Capita Income $23,737 $25,214

Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent

0 - 4 884 6.7% 891 6.4% 941 6.4%5 - 9 853 6.5% 868 6.3% 902 6.1%10 - 14 939 7.1% 865 6.2% 921 6.3%15 - 19 940 7.1% 899 6.5% 863 5.9%20 - 24 850 6.5% 977 7.1% 907 6.2%25 - 34 1,720 13.1% 1,841 13.3% 2,081 14.1%35 - 44 1,646 12.5% 1,654 11.9% 1,773 12.0%45 - 54 1,897 14.4% 1,843 13.3% 1,736 11.8%55 - 64 1,578 12.0% 1,727 12.5% 1,848 12.5%65 - 74 1,057 8.0% 1,306 9.4% 1,532 10.4%75 - 84 599 4.6% 719 5.2% 900 6.1%

85+ 197 1.5% 254 1.8% 324 2.2%Census 2010 2016 2021

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 10,170 77.3% 10,216 73.8% 10,374 70.4%Black Alone 741 5.6% 887 6.4% 1,036 7.0%American Indian Alone 142 1.1% 162 1.2% 180 1.2%Asian Alone 402 3.1% 494 3.6% 608 4.1%Pacific Islander Alone 69 0.5% 79 0.6% 93 0.6%Some Other Race Alone 955 7.3% 1,184 8.6% 1,463 9.9%Two or More Races 678 5.2% 821 5.9% 972 6.6%

Hispanic Origin (Any Race) 2,518 19.1% 3,084 22.3% 3,706 25.2%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 1 of 6

Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 1 mile radius Latitude: 36.02655

Longitude: -114.96765

AreaStateUSA

Trends 2016-2021Trends 2016-2021

Ann

ual R

ate

(in

perc

ent)

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20162021

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2016 Household Income 2016 Household Income

<$15K15.7%

$15K - $24K11.4%$25K - $34K

11.4%

$35K - $49K14.6%

$50K - $74K21.0%

$75K - $99K11.7%

$100K - $149K9.9%

$150K - $199K2.3%

$200K+2.1%

2016 Population by Race2016 Population by Race

Perc

ent

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2016 Percent Hispanic Origin: 22.3%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 2 of 6

Page 15: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

15 | 827 S. Boulder Highway - Offering Memorandum

Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 3 mile radius Latitude: 36.02655

Longitude: -114.96765

Summary Census 2010 2016 2021Population 73,137 77,334 82,214Households 25,896 26,969 28,443Families 18,566 19,241 20,242Average Household Size 2.80 2.84 2.87Owner Occupied Housing Units 18,033 17,723 18,605Renter Occupied Housing Units 7,863 9,246 9,838Median Age 37.3 38.3 38.4

Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.23% 1.43% 0.84%Households 1.07% 1.30% 0.79%Families 1.02% 1.28% 0.72%Owner HHs 0.98% 1.29% 0.73%Median Household Income 2.28% 2.14% 1.89%

2016 2021 Households by Income Number Percent Number Percent

<$15,000 2,934 10.9% 3,109 10.9%$15,000 - $24,999 2,454 9.1% 2,409 8.5%$25,000 - $34,999 2,268 8.4% 2,523 8.9%$35,000 - $49,999 3,509 13.0% 2,221 7.8%$50,000 - $74,999 5,529 20.5% 5,743 20.2%$75,000 - $99,999 4,147 15.4% 4,658 16.4%$100,000 - $149,999 4,217 15.6% 5,364 18.9%$150,000 - $199,999 1,167 4.3% 1,524 5.4%$200,000+ 745 2.8% 893 3.1%

Median Household Income $58,063 $65,001Average Household Income $71,988 $79,185Per Capita Income $25,747 $28,033

Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent

0 - 4 4,970 6.8% 5,050 6.5% 5,363 6.5%5 - 9 5,275 7.2% 5,156 6.7% 5,445 6.6%10 - 14 5,469 7.5% 5,389 7.0% 5,546 6.7%15 - 19 5,285 7.2% 5,069 6.6% 5,222 6.4%20 - 24 4,060 5.6% 4,749 6.1% 4,447 5.4%25 - 34 9,089 12.4% 9,872 12.8% 11,225 13.7%35 - 44 10,820 14.8% 10,533 13.6% 11,127 13.5%45 - 54 10,754 14.7% 10,810 14.0% 10,546 12.8%55 - 64 8,801 12.0% 9,741 12.6% 10,198 12.4%65 - 74 5,292 7.2% 6,928 9.0% 8,064 9.8%75 - 84 2,552 3.5% 3,080 4.0% 3,872 4.7%

85+ 770 1.1% 955 1.2% 1,158 1.4%Census 2010 2016 2021

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 58,475 80.0% 59,277 76.7% 60,405 73.5%Black Alone 3,315 4.5% 4,062 5.3% 4,794 5.8%American Indian Alone 684 0.9% 783 1.0% 868 1.1%Asian Alone 2,791 3.8% 3,484 4.5% 4,322 5.3%Pacific Islander Alone 363 0.5% 409 0.5% 473 0.6%Some Other Race Alone 4,137 5.7% 5,154 6.7% 6,377 7.8%Two or More Races 3,373 4.6% 4,165 5.4% 4,975 6.1%

Hispanic Origin (Any Race) 12,296 16.8% 15,176 19.6% 18,256 22.2%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 3 of 6

Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 3 mile radius Latitude: 36.02655

Longitude: -114.96765

AreaStateUSA

Trends 2016-2021Trends 2016-2021

Ann

ual R

ate

(in

perc

ent)

2.22

1.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20162021

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2016 Household Income 2016 Household Income

<$15K10.9%

$15K - $24K9.1%

$25K - $34K8.4%

$35K - $49K13.0%

$50K - $74K20.5%

$75K - $99K15.4%

$100K - $149K15.6%

$150K - $199K4.3%

$200K+2.8%

2016 Population by Race2016 Population by Race

Perc

ent

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2016 Percent Hispanic Origin: 19.6%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 4 of 6

area demograPhiCs (3 mile radius)

Page 16: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

16 | 827 S. Boulder Highway - Offering Memorandum

Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 5 mile radius Latitude: 36.02655

Longitude: -114.96765

Summary Census 2010 2016 2021Population 113,152 124,883 135,543Households 41,429 45,166 48,723Families 28,763 31,124 33,455Average Household Size 2.71 2.75 2.77Owner Occupied Housing Units 27,122 27,797 29,910Renter Occupied Housing Units 14,307 17,369 18,813Median Age 36.6 37.5 37.5

Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.65% 1.43% 0.84%Households 1.53% 1.30% 0.79%Families 1.45% 1.28% 0.72%Owner HHs 1.48% 1.29% 0.73%Median Household Income 2.50% 2.14% 1.89%

2016 2021 Households by Income Number Percent Number Percent

<$15,000 4,782 10.6% 5,092 10.5%$15,000 - $24,999 3,945 8.7% 3,952 8.1%$25,000 - $34,999 3,835 8.5% 4,353 8.9%$35,000 - $49,999 5,994 13.3% 3,918 8.0%$50,000 - $74,999 9,011 20.0% 9,538 19.6%$75,000 - $99,999 7,337 16.2% 8,434 17.3%$100,000 - $149,999 6,941 15.4% 9,058 18.6%$150,000 - $199,999 1,959 4.3% 2,670 5.5%$200,000+ 1,361 3.0% 1,707 3.5%

Median Household Income $58,728 $66,460Average Household Income $73,128 $80,980Per Capita Income $26,950 $29,594

Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent

0 - 4 7,771 6.9% 8,259 6.6% 8,991 6.6%5 - 9 8,023 7.1% 8,325 6.7% 8,985 6.6%10 - 14 8,079 7.1% 8,464 6.8% 9,098 6.7%15 - 19 7,620 6.7% 7,767 6.2% 8,249 6.1%20 - 24 6,601 5.8% 7,557 6.1% 7,490 5.5%25 - 34 15,787 14.0% 17,560 14.1% 19,754 14.6%35 - 44 17,211 15.2% 17,862 14.3% 19,677 14.5%45 - 54 16,302 14.4% 17,223 13.8% 17,219 12.7%55 - 64 13,237 11.7% 15,199 12.2% 16,096 11.9%65 - 74 7,826 6.9% 10,682 8.6% 12,497 9.2%75 - 84 3,656 3.2% 4,610 3.7% 5,801 4.3%

85+ 1,039 0.9% 1,374 1.1% 1,685 1.2%Census 2010 2016 2021

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 87,669 77.5% 92,070 73.7% 95,195 70.2%Black Alone 5,742 5.1% 7,323 5.9% 8,786 6.5%American Indian Alone 969 0.9% 1,134 0.9% 1,266 0.9%Asian Alone 6,034 5.3% 8,089 6.5% 10,296 7.6%Pacific Islander Alone 613 0.5% 712 0.6% 836 0.6%Some Other Race Alone 6,549 5.8% 8,385 6.7% 10,469 7.7%Two or More Races 5,577 4.9% 7,170 5.7% 8,695 6.4%

Hispanic Origin (Any Race) 19,494 17.2% 24,781 19.8% 30,131 22.2%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 5 of 6

Demographic and Income Profile827 S Boulder Hwy, Henderson, Nevada, 89015 Prepared by EsriRing: 5 mile radius Latitude: 36.02655

Longitude: -114.96765

AreaStateUSA

Trends 2016-2021Trends 2016-2021

Ann

ual R

ate

(in

perc

ent)

2.42.2

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20162021

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2016 Household Income 2016 Household Income

<$15K10.6%

$15K - $24K8.7%

$25K - $34K8.5%

$35K - $49K13.3%

$50K - $74K20.0%

$75K - $99K16.2%

$100K - $149K15.4%

$150K - $199K4.3%

$200K+3.0%

2016 Population by Race2016 Population by Race

Perc

ent

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2016 Percent Hispanic Origin: 19.8%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

February 17, 2017

©2016 Esri Page 6 of 6

area demograPhiCs (5 mile radius)

Page 17: 827 S. Boulder Highway, Henderson, NV 89015€¦ · 827 S. Boulder Highway, Henderson, NV 89015. 2 | 827 S. Boulder ighway - Offering Memorandum SUN COMMERCIAL REAL ESTATE, INC. (the

17 | 827 S. Boulder Highway - Offering Memorandum

The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice.

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[email protected]

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