3950-3970 las vegas blvd · 2018. 11. 28. · lease comps lease comps summary 42 lease comps...
TRANSCRIPT
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Underwriting Report
33,600 SF Industrial Warehouse
SUBJECT PROPERTY
Property Details 2
MARKET SUMMARY
North Las Vegas Submarket Summary 7
Las Vegas Market Summary 8
Economic Summary 9
PEER PROPERTIES
Peer Properties Summary 12
Peer Property Photos 14
Peer Property Comparison 16
Peer Property Details 20
LEASING ANALYTICS
Vacancy Analytics 31
Rent Analytics 36
Absorption Analytics 38
Leasing Analytics 39
LEASE COMPS
Lease Comps Summary 42
Lease Comps Details 46
CONSTRUCTION COMPS
Overall Construction Summary 97
Market Construction 98
Submarket Construction 99
Construction Activity 103
Under Construction Summary 108
Under Construction Details 110
Completed Construction Past 12 Months 119
Deliveries Past 12 Months Details 121
SALE COMPS
Sale Comps 137
Sale Comps Detail 141
Sales Volume 150
Sales Pricing 151
Cap Rates 153
Table Of Contents
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504
Subject Property
3950-3970 Las Vegas BlvdLas Vegas, NV 89115 - North Las Vegas Ind
LOCATION
Distance to Airport: -
Distance to Seaport: -
Population 500 Mile Radius: 54,261,321
Population 250 Mile Radius: 12,286,514
Population 50 Mile Radius: 2,200,295
OWNER
Roger Pitts
Las Vegas Industrial Park
PROPERTY
Type: Warehouse Tenancy: Multi
Park: Las Vegas Industrial Park Construction: Reinforced Concrete
RBA: 33,600 SF Column Spacing: -
Year Built/Renov: 2000 Truck Wells: None
Ceiling Height: 20' Rail Served: None
Docks: - Sprinklers: -
Drive Ins: 6 tot./8'w x 13'h Power: -
Truck Court: - Cranes: None
Land Acres: 2.08 AC Levelators: -
Office: - Taxes: $0.54 (2012)
Parking: 45 free Surface Spaces are available; Ratio of 4.11/1,000 SF
Features: Bus Line
12 MO. LEASING ACTIVITY SF
Subject Property:
Peers Total:
-
164,439
Peers Count: 17
Peers Avg: 9,672
Peer Submarkets Total: 7,304,258
Peer Submarkets Avg: 7,385
ASKING RENT PER SF
Current:
Last Quarter:
-
$0.48
Year Ago: $0.48
Peers: $0.57
Peer Submarkets: $0.46
VACANCY
Current:
Last Quarter:
100%
0%
Year Ago: 43.2%
Peers: 17.2%
Peer Submarkets: 6.5%
AVAILABLE SPACES
Currently No Available Spaces
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888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 2
Subject Property
Tenant # Emps Move Date Exp DateFloor SFIndustry
KEY TENANTS
Advanced Training Institute - Jan 2008 -14,895UnkwnPersonal Services
CoStar Research Moving Out Moving In My Data Shared Data
NOTES
Highly configurable and flexible finished office and warehouse space available for lease. We can help you be creative to combine or divide units tocreate the ideal space to meet your needs.
This well maintained and nicely landscaped development sits on 2.08 acres and is comprised of two concrete tilt up buildings totaling 33,126 sf.CAMs at .18 sf.Las Vegas Industrial Park is one of the few industrial/office developments located directly on Las Vegas in Boulevard. Conveniently located near theInterstate Highway 15 and Craig Road, on one of Las Vegas' busiest thoroughfares.
Situated close to Nellis Air Force Base and surrounded by a its thriving military and civilian community, this great high traffic location has plenty ofvisibility for your business
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Page 3
Subject Property
BuildingPrimary
BuildingInterior
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Page 4
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Market Summary
33,600 SF Industrial Warehouse
Submarket SummaryNorth Las Vegas Industrial
North Las Vegas is the largest industrial submarket inthe metro and has its largest logistics inventory. Morethan 80% of stock here (roughly 34 million SF) islogistics space, and the submarket contains over 30% ofsuch assets in the metro. The area benefits from thepresence of I-15, as well as the Union Pacific Railroad,which runs parallel to the interstate. Additionally, theNorth Las Vegas Air Terminal lies to the southwest,although McCarran International Airport in BoulderJunction is the larger of the two area airports. Retailerswith local distribution facilities make up the majority oflarge tenants in the submarket, including Amazon andthe Honest Company.
Developers are extremely bullish on the area, with morethan three million SF of supply delivered in 2017 androughly 2,462,986 SF under construction—all of itlogistics space. Persistent demand has allowed strongrent growth to continue, even in the midst of a supply-driven vacancy expansion. The influx of new supply has
put pressure on vacancy rates, however healthy demandin the first half of 2018 has seen vacancies compress toaround 6.1%.
Sales volume in North Las Vegas is off to a healthy startin 2018 after a strong 2017 which totaled approximately$325 million, bolstered by several large deals and a goodnumber of trades. Transaction volume in 2017 received asignificant boost from the December sale of the two-property Northgate Distribution Center portfolio for$124.8 million ($90/SF). GLP US Managementpurchased the approximately 1.4 million SF portfolio fromdeveloper VanTrust Real Estate. Included in the tradewere the 813,000 SF Amazon distribution building andthe 570,000 SF Honest Co. warehouse building.Recently in March 2018, the Phase I and II buildings inthe Lone Mountain Corporate Center were purchased byClarion Partners for a combined $67 million ($96/SF).The buildings were sold by Pauls Real EstateInvestments as part of a 16-property portfolio.
NET ABSORPTION, NET DELIVERIES & VACANCY
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Page 7
Market SummaryLas Vegas Industrial
The Las Vegas logistics market stands to benefit from itsfavorable location, which enables it to provide overnightservice to both Southern California and large portions ofArizona. The city of Las Vegas legislature passed aresolution in 2009 to promote the metro as a “major WestCoast logistics center” through infrastructureimprovements and by leveraging existing rail lines andair freight facilities. This is part of an effort to diversify thelocal economy, and government officials in North LasVegas have attempted to lure new companies with quickpermitting and financial incentives.
Infrastructure improvements to roadways are ongoing;
the Nevada Department of Transportation began amultiyear, multiphase, $200 million-plus upgrade of U.S.95 in 2010. Also in progress is the $1.5 billion ProjectNeon, which promises to widen 3.7 miles on I-15 andprovide a direct connection between U.S. 95 and I-15while improving the Spaghetti Bowl interchange. ProjectNeon was approximately 75% done as of July, withcompletion set for 2019.
Developers have already inundated the metro,particularly the North Las Vegas Submarket, but healthydemand has helped keep vacancies relatively stable.
NET ABSORPTION, NET DELIVERIES & VACANCY
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Page 8
Market SummaryLas Vegas Industrial
Las Vegas’s recovery continues, after getting off to aslow start, bolstered by healthy job and populationgrowth. Annual job growth in the Las Vegas metro hasaveraged around 3% over the past five years, based onnumbers from the U.S. Bureau of Labor Statistics. TheLas Vegas metro has seen steady growth in the numberof people moving to the area this cycle, andapproximately two-thirds of the population growth hascome from in-migration from other parts of the country.
While state and local officials are working to diversify theeconomy, the leisure and hospitality sector remains LasVegas’ primary economic driver. With nearly one in threejobs based in the sector, the metro’s economic successis inherently tied to tourism. Visitor numbers from the LasVegas Convention and Visitors Authority are lookingstrong, with the metro attracting more than 40 millioneach of the past three years, an all-time record. Astrengthening national economy will certainly help LasVegas’s cause as increased disposable incomeencourages even more tourists and attracts visitor dollarsto the metro.
The construction industry has made a strong recoveryrecently after being hit hard by the collapse of thehousing market during the recession. Annualemployment growth in the construction sector over thepast five years has averaged around 10%. However, thenumber of workers still remains at only approximately60% of prerecession levels. The metro employed morethan 110,000 construction workers, or about 12% of the
overall employment base, in 2006; today, constructionmakes up around 6% of employment.
The construction sector is likely to see continued growthover the next few years, with a number of large projectscurrently under way in Las Vegas, most locatedproximate to the Strip. One is the Genting Group’s $4billion Resorts World Las Vegas, with the initial phaseestimated to include around 3,000 rooms and a 100,000-SF casino. That project alone is expected to add 30,000constructions jobs. Two other large hotel projects arealso slated to open in the next couple of years: The DrewLas Vegas (formerly Fontainebleau) with an estimated4,000 rooms and Wynn Las Vegas’s Paradise Park witharound 1,500 rooms.
One of the most significant projects in the metro is thenew 65,000-seat indoor stadium for the Las VegasRaiders that recently broke ground. The Raiders and LasVegas Stadium Authority are partnering to build thestadium, which is estimated to open for the 2020 season.As of mid-2018, there are around 500 constructionworkers on site, but it is expected to eventually employabout 1,500 workers when the project hits its peak. Thestate-backed economic impact report on the stadium isestimating a total economic output of $620 million, aswell as $35 million new tax dollars each year. Thoseprojections are based on the stadium hosting 46 eventsper year and drawing 451,417 new visitors. The reportalso estimates that the stadium would create anadditional 5,982 permanent jobs throughout the region.
LAS VEGAS EMPLOYMENT BY INDUSTRY IN THOUSANDS
NAICS Industry Jobs LQ MarketUS USMarketUSMarket
Current Jobs Current Growth 10 Yr Historical 5 Yr Forecast
-1.28%-0.30%-0.52%-0.45%2.16%4.91%0.324Manufacturing
0.26%0.87%0.57%1.05%1.19%2.62%1.0179Trade, Transportation and Utilities
0.29%0.80%0.45%1.05%0.72%2.41%1.0111 Retail Trade
0.67%1.73%0.44%0.86%1.32%1.32%0.951Financial Activities
0.51%0.86%-0.10%0.38%-0.01%3.12%0.7106Government
1.47%2.32%0.03%-3.40%4.07%10.84%1.266Natural Resources, Mining and Construction
1.13%2.78%2.07%4.22%1.87%4.18%0.6101Education and Health Services
1.29%1.67%1.71%2.31%2.53%1.25%1.0141Professional and Business Services
0.08%0.49%-0.69%-0.11%-0.49%-4.89%0.611Information
1.13%2.23%2.00%0.94%1.89%2.19%2.7295Leisure and Hospitality
0.31%0.77%0.62%2.58%1.59%5.13%0.833Other Services
Total Employment 1,008 1.0 2.99% 1.63% 0.99% 0.83% 1.68% 0.65%
Source: Moody's Analytics
LQ = Location Quotient
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Page 9
Market SummaryLas Vegas Industrial
Source: Moody’s Analytics
YEAR OVER YEAR JOB GROWTH
DEMOGRAPHIC TRENDS
Current ChangeCurrent Level
Metro U.S.Metro U.S.Demographic Category
10-Year Change Forecast Change (5 Yrs)
Metro U.S. Metro U.S.
Population 328,498,6572,268,810 2.4% 0.7% 1.7% 0.8% 2.4% 0.6%
Households 126,474,227829,823 2.6% 1.1% 1.5% 0.8% 2.7% 1.1%
Median Household Income $61,703$59,183 6.1% 3.5% 0.4% 1.7% 2.5% 2.8%
Labor Force 162,208,6641,100,980 2.4% 1.0% 1.1% 0.5% 1.8% 0.8%
Unemployment 3.9%5.0% -0.2% -0.4% -0.2% -0.2% - -
Source: Moody’s Analytics
POPULATION GROWTH
Source: Moody's Analytics
LABOR FORCE GROWTH INCOME GROWTH
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Page 10
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Peer Properties
33,600 SF Industrial Warehouse
Peer Properties Summary3950-3970 Las Vegas Blvd
Total Peers
17Peers w/Availability
17Asking Rent
$0.57Vacancy Rate
17.2%Bldgs with Vacancy
15PEER LOCATIONS
PEER SUMMARY STATISTICS
Property Attributes Low Average Median High
Building SF 18,858 39,885 43,692 66,000
Year Built 1997 2003 2004 2008
Ceiling Height 12' 20' 20' 28'
Docks 0 7 4 20
Typical Floor SF 18,858 39,885 43,692 66,000
Vacancy Rate 0% 17.2% 12.6% 79.8%
Availability Rate 3.3% 17.0% 13.0% 79.8%
Star Rating 2.7
Available Space Attributes Low Average Median High
Space SF 1,465 6,786 5,707 17,610
Asking Rent Per SF $0.06 $0.57 $0.58 $0.85
Months On Market 0.4 4.1 2.4 20.1
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Page 12
Peer Properties Summary3950-3970 Las Vegas Blvd
Property Name / Address Rating Yr. Built RBA Ceiling Ht Avail SF Avail %
Property
Spaces
Availability & Vacancy
Vac% Asking Rent/SFDocks
2000-3950-3970 Las Vegas Blvd
33,600 20' - 0%- 0% --
PEERS WITH AVAILABILITY
2006-1 Bldg B57,017 18'-24' 4,837 8.5%
730 W Cheyenne Ave3 8.5% $0.8513
2004-2 3,828 SF w/ 2 Docks imm…41,500 17' 4,646 11.2%
4535 Statz St1 11.2% $0.7820
2004-3 Harsch Cheyenne Comm…44,680 18' 5,822 13.0%
570 W Cheyenne Ave2 19.7% $0.701
1997-4 Bldg A58,191 22' 5,050 8.7%
4310 Losee Rd1 8.7% $0.6810
2008-5 A,B,C31,400 22'-24' 11,460 36.5%
6226-6234 E Tropical Pky1 36.5% $0.68-
2006-6 Bldg A44,651 18' 1,465 3.3%
720 W Cheyenne Ave1 3.3% $0.651
2008-7 Bldg 319,858 19'-20' 4,382 22.1%
3660 N 5th St2 0% $0.625
2008-8 Bldg 119,248 19'-20' 2,907 15.1%
3640 N 5th St1 15.1% $0.622
1997-9 Bldg B66,000 22' 6,440 9.8%
4336 Losee Rd1 9.8% $0.5820
2008-10 Bldg 618,858 19'-20' 7,050 37.4%
3680 N 5th St1 61.7% $0.58-
2008-11 Bldg 419,248 19'-20' 15,364 79.8%
3670 N 5th St2 79.8% $0.55-
1997-12 GBS Two60,800 20' 17,610 29.0%
4724 Mitchell St1 29.0% $0.548
1999-13 4114 N Pecos Rd43,692 20' 10,099 23.1%1 23.1% $0.5013
2008-14 Walnut Business Park45,200 22' 5,707 12.6%
3020 N Walnut Rd1 12.6% $0.49-
1998-15 Bldg K57,699 12'-28' 7,592 13.2%
6845 Speedway Blvd1 13.2% $0.463
2001-16 Bldg C20,000 20' 1,645 8.2%
595 E Brooks Ave1 0% $0.061
2001-17 Bldg D30,000 20' 3,300 11.0%
537 E Brooks Ave1 11.0% $0.067
17 Sub-Totals 678,042 22 115,376
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Page 13
Harsch Cheyenne570 W Cheyenne Ave
44,680 SF / Ceiling Ht 18'
Owner: Harsch Investment Properties
Rent/SF $0.70, Vacancy 19.7%
33,828 SF w/ 2 Docks4535 Statz St
41,500 SF / Ceiling Ht 17'
Owner: Petersen Management
Rent/SF $0.78, Vacancy 11.2%
2Bldg B730 W Cheyenne Ave
57,017 SF / Ceiling Ht 18'-24'
Owner: Harsch Investment Properties
Rent/SF $0.85, Vacancy 8.5%
1
Bldg A720 W Cheyenne Ave
44,651 SF / Ceiling Ht 18'
Owner: Harsch Investment Properties
Rent/SF $0.65, Vacancy 3.3%
6A,B,C6226-6234 E Tropical Pky
31,400 SF / Ceiling Ht 22'-24'
Owner: Bushala Brothers, Inc.
Rent/SF $0.68, Vacancy 36.5%
5Bldg A4310 Losee Rd
58,191 SF / Ceiling Ht 22'
Owner: Creative Wealth Strategies…
Rent/SF $0.68, Vacancy 8.7%
4
Bldg B4336 Losee Rd
66,000 SF / Ceiling Ht 22'
Owner: Creative Wealth Strategies…
Rent/SF $0.58, Vacancy 9.8%
9Bldg 13640 N 5th St
19,248 SF / Ceiling Ht 19'-20'
Owner: Meldrum Group
Rent/SF $0.62, Vacancy 15.1%
8Bldg 33660 N 5th St
19,858 SF / Ceiling Ht 19'-20'
Owner: North Fifth Properties, LLC
Rent/SF $0.62, Vacancy 0%
7
Peer Property Photos3950-3970 Las Vegas Blvd
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GBS Two4724 Mitchell St
60,800 SF / Ceiling Ht 20'
Owner: Continental Fidelity Corpor…
Rent/SF $0.54, Vacancy 29.0%
12Bldg 43670 N 5th St
19,248 SF / Ceiling Ht 19'-20'
Owner: North Fifth Properties, LLC
Rent/SF $0.55, Vacancy 79.8%
11Bldg 63680 N 5th St
18,858 SF / Ceiling Ht 19'-20'
Owner: Meldrum Group
Rent/SF $0.58, Vacancy 61.7%
10
Bldg K6845 Speedway Blvd
57,699 SF / Ceiling Ht 12'-28'
Owner: Harsch Investment Properties
Rent/SF $0.46, Vacancy 13.2%
15Walnut Business Park3020 N Walnut Rd
45,200 SF / Ceiling Ht 22'
Owner: MCA Walnut LLC
Rent/SF $0.49, Vacancy 12.6%
144114 N Pecos Rd
43,692 SF / Ceiling Ht 20'
Owner: Urban Land of Nevada
Rent/SF $0.50, Vacancy 23.1%
13
3950-3970 Las Vegas
33,600 SF / Ceiling Ht 20'
Owner: Las Vegas Industrial Park;…
Rent/SF -, Vacancy 100%
Subject Property
Bldg D537 E Brooks Ave
30,000 SF / Ceiling Ht 20'
Owner: Harsch Investment Properties
Rent/SF $0.06, Vacancy 11.0%
17Bldg C595 E Brooks Ave
20,000 SF / Ceiling Ht 20'
Owner: Harsch Investment Properties
Rent/SF $0.06, Vacancy 0%
16
Peer Property Photos3950-3970 Las Vegas Blvd
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Property Name/Address Rating Asking Rent Per SF Vacancy Rate
Bldg B
730 W Cheyenne Ave1 $0.85 8.5%
3,828 SF w/ 2 Docks imm…
4535 Statz St2 $0.78 11.2%
Harsch Cheyenne Comm…
570 W Cheyenne Ave3 $0.70 19.7%
Bldg A
4310 Losee Rd4 $0.68 8.7%
A,B,C
6226-6234 E Tropical Pky5 $0.68 36.5%
Bldg A
720 W Cheyenne Ave6 $0.65 3.3%
Bldg 3
3660 N 5th St7 $0.62 0%
Bldg 1
3640 N 5th St8 $0.62 15.1%
Bldg B
4336 Losee Rd9 $0.58 9.8%
Bldg 6
3680 N 5th St10 $0.58 61.7%
Bldg 4
3670 N 5th St11 $0.55 79.8%
GBS Two
4724 Mitchell St12 $0.54 29%
4114 N Pecos Rd13 $0.50 23.1%
Walnut Business Park
3020 N Walnut Rd14 $0.49 12.6%
Bldg K
6845 Speedway Blvd15 $0.46 13.2%
Bldg C
595 E Brooks Ave16 $0.06 0%
Bldg D
537 E Brooks Ave17 $0.06 11%
3950-3970 Las Vegas Blvd
Average
(Arrows indicate trend over last quarter)
Withheld 100%
21.1%$0.57
Peer Property Comparison3950-3970 Las Vegas Blvd
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 16
Peer Property Comparison3950-3970 Las Vegas Blvd
Property Name/Address Rating Availability Rate Vacancy Rate
3950-3970 Las Vegas Blvd100% 100%
Bldg 4
3670 N 5th St11 79.8% 79.8%
Bldg 6
3680 N 5th St10 37.4% 61.7%
A,B,C
6226-6234 E Tropical Pky5 36.5% 36.5%
GBS Two
4724 Mitchell St12 29% 29%
4114 N Pecos Rd13 23.1% 23.1%
Bldg 3
3660 N 5th St7 22.1% 0%
Bldg 1
3640 N 5th St8 15.1% 15.1%
Bldg K
6845 Speedway Blvd15 13.2% 13.2%
Harsch Cheyenne Comm…
570 W Cheyenne Ave3 13% 19.7%
Walnut Business Park
3020 N Walnut Rd14 12.6% 12.6%
3,828 SF w/ 2 Docks imm…
4535 Statz St2 11.2% 11.2%
Bldg D
537 E Brooks Ave17 11% 11%
Bldg B
4336 Losee Rd9 9.8% 9.8%
Bldg A
4310 Losee Rd4 8.7% 8.7%
Bldg B
730 W Cheyenne Ave1 8.5% 8.5%
Bldg C
595 E Brooks Ave16 8.2% 0%
Bldg A
720 W Cheyenne Ave
Average
(Arrows indicate trend over last quarter)
6 3.3% 3.3%
21.1%20.9%
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888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 17
Peer Property Comparison3950-3970 Las Vegas Blvd
Property Name/Address Rating Asking Rent Per SF Median Months on Market
Bldg B
730 W Cheyenne Ave1 $0.85 7
3,828 SF w/ 2 Docks imm…
4535 Statz St2 $0.78 1
Harsch Cheyenne Comm…
570 W Cheyenne Ave3 $0.70
Bldg A
4310 Losee Rd4 $0.68
A,B,C
6226-6234 E Tropical Pky5 $0.68
Bldg A
720 W Cheyenne Ave6 $0.65 3
Bldg 3
3660 N 5th St7 $0.62 5
Bldg 1
3640 N 5th St8 $0.62 6
Bldg B
4336 Losee Rd9 $0.58
Bldg 6
3680 N 5th St10 $0.58 20
Bldg 4
3670 N 5th St11 $0.55 5
GBS Two
4724 Mitchell St12 $0.54 2
4114 N Pecos Rd13 $0.50 1
Walnut Business Park
3020 N Walnut Rd14 $0.49 7
Bldg K
6845 Speedway Blvd15 $0.46 7
Bldg C
595 E Brooks Ave16 $0.06 1
Bldg D
537 E Brooks Ave17 $0.06 1
3950-3970 Las Vegas Blvd
Average
(Arrows indicate trend over last quarter)
Withheld
4$0.57
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Page 18
Peer Property Comparison3950-3970 Las Vegas Blvd
Property Name/Address Rating 12 Mo. Leasing Activity in Thousand SF 12 Mo. Net Absorption in Thousand SF
Bldg B
4336 Losee Rd9 33 7
GBS Two
4724 Mitchell St12 30 13
Harsch Cheyenne Comm…
570 W Cheyenne Ave3 20 (9)
Walnut Business Park
3020 N Walnut Rd14 18 (6)
Bldg A
720 W Cheyenne Ave6 15 4
Bldg A
4310 Losee Rd4 11 0
Bldg 6
3680 N 5th St10 9 7
Bldg K
6845 Speedway Blvd15 8 (8)
Bldg B
730 W Cheyenne Ave1 5 6
Bldg C
595 E Brooks Ave16 5 2
3,828 SF w/ 2 Docks imm…
4535 Statz St2 4 (5)
Bldg 3
3660 N 5th St7 3 0
Bldg D
537 E Brooks Ave17 3 0
A,B,C
6226-6234 E Tropical Pky5 0 0
Bldg 1
3640 N 5th St8 0 (3)
4114 N Pecos Rd13 0 (10)
Bldg 4
3670 N 5th St11 0 (15)
3950-3970 Las Vegas Blvd
Average
0 (25)
(2)9
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Peer Property Detail With Availability3950-3970 Las Vegas Blvd
730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - Distance to Subject Property: 4.7 Miles
1
COMPARISON
Vacancy %: 8.5% 100%
Available SF: 4,837 0
Asking Rent: $0.85/SF/Mo -
Months To Lease: 14 mo 7 mo
Time On Market: 7 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 3
Square Feet: 4,837
Range: 1,559 - 1,639
Max Contig: 3,198
% Sublet: 0%
Asking Rent: $0.85/NNN
PROPERTY
Type: Distribution Docks: 13 ext
Year Built/Renov: 2006 Drive Ins: 6 tot./10'w x 14'h
RBA: 57,017 SF Truck Court: -
Tenancy: Multi
Power: 2,000a/277-480v 3p Hea…Ceiling Height: 18'-24'
Land Acres: 7.50 AC
Construction: Reinforced Concrete Taxes: $0.89 (2012)
Parking: 150 free Surface Spaces are available; Ratio of 3.18/1,000 SF
Features: Bus Line
Cranes: -
Rail Served: None
4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - Distance to Subject Property: 2.4 Miles
2
COMPARISON
Vacancy %: 11.2% 100%
Available SF: 4,646 0
Asking Rent: $0.78/SF/Mo -
Months To Lease: 5 mo 7 mo
Time On Market: 1 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 4,646
Range: 4,646
Max Contig: 4,646
% Sublet: 0%
Asking Rent: $0.78/NNN
PROPERTY
Type: Warehouse Docks: 20 ext
Year Built/Renov: 2004 Drive Ins: 10 tot./12'w x 14'h
RBA: 41,500 SF Truck Court: -
Tenancy: Multi
Power: 200a/120-208v 3p 4wCeiling Height: 17'
Land Acres: 3.13 AC
Construction: Reinforced Concrete Taxes: $0.79 (2017)
Parking: 76 Surface Spaces are available; Ratio of 1.83/1,000 SF
Features: Signage
Cranes: -
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504
Page 20
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - Distance to Subject Property: 4.6 Miles
3
COMPARISON
Vacancy %: 19.7% 100%
Available SF: 5,822 0
Asking Rent: $0.73/SF/Mo -
Months To Lease: 6 mo 7 mo
Time On Market: - -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 2
Square Feet: 5,822
Range: 1,541 - 4,281
Max Contig: 4,281
% Sublet: 0%
Asking Rent: $0.73/NNN
PROPERTY
Type: Distribution Docks: 1 ext
Year Built/Renov: 2004 Drive Ins: 13 tot./9'w x 11'h
RBA: 44,680 SF Truck Court: -
Tenancy: Multi
Power: 200a/277-480v 3p 4wCeiling Height: 18'
Land Acres: 7.60 AC
Construction: Reinforced Concrete Taxes: $1.13 (2012)
Parking: 135 free Surface Spaces are available; Ratio of 3.18/1,000 SF
Features: Bus Line, Skylights
Cranes: None
Rail Served: None
4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - Distance to Subject Property: 2.7 Miles
4
COMPARISON
Vacancy %: 8.7% 100%
Available SF: 5,050 0
Asking Rent: $0.68/SF/Mo -
Months To Lease: 23 mo 7 mo
Time On Market: - -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 5,050
Range: 5,050
Max Contig: 5,050
% Sublet: 0%
Asking Rent: $0.68/NNN
PROPERTY
Type: Warehouse Docks: 10 ext
Year Built/Renov: 1997 Drive Ins: 10 tot./10'w x 16'h
RBA: 58,191 SF Truck Court: -
Tenancy: Multi
Power: 200-250a/277-480v 3pCeiling Height: 22'
Land Acres: 3.60 AC
Construction: Reinforced Concrete Taxes: $0.76 (2012)
Parking: 118 free Surface Spaces are available; Ratio of 1.83/1,000 SF
Features: 24 Hour Availability, Bus Line, Signage
Cranes: None
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 21
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
6226-6234 E Tropical Pky - A,B,CLas Vegas, NV 89115 - Distance to Subject Property: 3.3 Miles
5
COMPARISON
Vacancy %: 36.5% 100%
Available SF: 11,460 0
Asking Rent: $0.68/SF/Mo -
Months To Lease: - 7 mo
Time On Market: - -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 11,460
Range: 11,460
Max Contig: 11,460
% Sublet: 0%
Asking Rent: $0.68/MG
PROPERTY
Type: Warehouse Docks: -
Year Built/Renov: 2008 Drive Ins: -
RBA: 31,400 SF Truck Court: -
Tenancy: Multi
Power: -Ceiling Height: 22'-24'
Land Acres: 6.48 AC
Construction: Reinforced Concrete Taxes: $1.29 (2012)
Parking: Ratio of 0.00/1,000 SF
Features: -
Cranes: -
Rail Served: None
720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - Distance to Subject Property: 4.7 Miles
6
COMPARISON
Vacancy %: 3.3% 100%
Available SF: 1,465 0
Asking Rent: $0.85/SF/Mo -
Months To Lease: 7 mo 7 mo
Time On Market: 3 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 1,465
Range: 1,465
Max Contig: 1,465
% Sublet: 0%
Asking Rent: $0.85/NNN
PROPERTY
Type: Warehouse Docks: 1 ext
Year Built/Renov: 2006 Drive Ins: 14 tot./12'w x 16'h
RBA: 44,651 SF Truck Court: -
Tenancy: Multi
Power: 200a/277-480v 3pCeiling Height: 18'
Land Acres: 7.50 AC
Construction: Reinforced Concrete Taxes: $1.68 (2012)
Parking: 135 Surface Spaces are available; Ratio of 3.18/1,000 SF
Features: Bus Line
Cranes: -
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 22
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - Distance to Subject Property: 3.6 Miles
7
COMPARISON
Vacancy %: 0% 100%
Available SF: 4,382 0
Asking Rent: $0.62/SF/Mo -
Months To Lease: 10 mo 7 mo
Time On Market: 5 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 2
Square Feet: 4,382
Range: 2,191
Max Contig: 4,382
% Sublet: 0%
Asking Rent: $0.62/NNN
PROPERTY
Type: Warehouse Docks: 5 ext
Year Built/Renov: 2008 Drive Ins: 8 tot./9'w x 14'h
RBA: 19,858 SF Truck Court: -
Tenancy: Multi
Power: 120-208v 3pCeiling Height: 19'-20'
Land Acres: 1.45 AC
Construction: Reinforced Concrete Taxes: $3.30 (2012)
Parking: 25 free Surface Spaces are available; Ratio of 1.26/1,000 SF
Features: -
Cranes: -
Rail Served: -
3640 N 5th St - Bldg 1North Las Vegas, NV 89032 - Distance to Subject Property: 3.6 Miles
8
COMPARISON
Vacancy %: 15.1% 100%
Available SF: 2,907 0
Asking Rent: $0.62/SF/Mo -
Months To Lease: 3 mo 7 mo
Time On Market: 6 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 2,907
Range: 2,907
Max Contig: 2,907
% Sublet: 0%
Asking Rent: $0.62/NNN
PROPERTY
Type: Warehouse Docks: 2 ext
Year Built/Renov: 2008 Drive Ins: 6 tot./9'w x 14'h
RBA: 19,248 SF Truck Court: -
Tenancy: Multi
Power: 120-208v 3p HeavyCeiling Height: 19'-20'
Land Acres: 1.45 AC
Construction: Reinforced Concrete Taxes: $3.41 (2012)
Parking: 42 free Surface Spaces are available; Ratio of 2.18/1,000 SF
Features: Signage
Cranes: -
Rail Served: -
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 23
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - Distance to Subject Property: 2.7 Miles
9
COMPARISON
Vacancy %: 9.8% 100%
Available SF: 6,440 0
Asking Rent: $0.58/SF/Mo -
Months To Lease: 10 mo 7 mo
Time On Market: - -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 6,440
Range: 6,440
Max Contig: 6,440
% Sublet: 0%
Asking Rent: $0.58/NNN
PROPERTY
Type: Distribution Docks: 20 ext
Year Built/Renov: 1997 Drive Ins: 8 tot./9'w x 14'h
RBA: 66,000 SF Truck Court: -
Tenancy: Multi
Power: 250a/277-480v 3pCeiling Height: 22'
Land Acres: 3.60 AC
Construction: Reinforced Concrete Taxes: $0.67 (2012)
Parking: 92 free Surface Spaces are available; Ratio of 1.15/1,000 SF
Features: 24 Hour Availability, Bus Line, Signage
Cranes: None
Rail Served: None
3680 N 5th St - Bldg 6North Las Vegas, NV 89032 - Distance to Subject Property: 3.7 Miles
10
COMPARISON
Vacancy %: 61.7% 100%
Available SF: 7,050 0
Asking Rent: $0.55/SF/Mo -
Months To Lease: 17 mo 7 mo
Time On Market: 20 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 7,050
Range: 7,050
Max Contig: 7,050
% Sublet: 0%
Asking Rent: $0.55/NNN
PROPERTY
Type: Warehouse Docks: None
Year Built/Renov: 2008 Drive Ins: 4 tot./9'w x 14'h
RBA: 18,858 SF Truck Court: -
Tenancy: Multi
Power: 120-208v 3pCeiling Height: 19'-20'
Land Acres: 1.45 AC
Construction: Reinforced Concrete Taxes: $3.48 (2012)
Parking: 36 free Surface Spaces are available; Ratio of 1.91/1,000 SF
Features: -
Cranes: -
Rail Served: -
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 24
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
3670 N 5th St - Bldg 4North Las Vegas, NV 89032 - Distance to Subject Property: 3.6 Miles
11
COMPARISON
Vacancy %: 79.8% 100%
Available SF: 15,364 0
Asking Rent: $0.55/SF/Mo -
Months To Lease: 9 mo 7 mo
Time On Market: 5 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 2
Square Feet: 15,364
Range: 3,736 - 11,628
Max Contig: 15,364
% Sublet: 0%
Asking Rent: $0.55/NNN
PROPERTY
Type: Warehouse Docks: None
Year Built/Renov: 2008 Drive Ins: 6 tot./12'w x 14'h
RBA: 19,248 SF Truck Court: -
Tenancy: Multi
Power: 200a/120-208v 3pCeiling Height: 19'-20'
Land Acres: 1.45 AC
Construction: Reinforced Concrete Taxes: $3.41 (2012)
Parking: 25 free Surface Spaces are available; Ratio of 1.30/1,000 SF
Features: -
Cranes: -
Rail Served: -
4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - Distance to Subject Property: 1.6 Miles
12
COMPARISON
Vacancy %: 29.0% 100%
Available SF: 17,610 0
Asking Rent: $0.54/SF/Mo -
Months To Lease: 10 mo 7 mo
Time On Market: 2 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 17,610
Range: 17,610
Max Contig: 17,610
% Sublet: 0%
Asking Rent: $0.54/NNN
PROPERTY
Type: Warehouse Docks: 8 ext
Year Built/Renov: 1997 Drive Ins: 8 tot./9'w x 10'h
RBA: 60,800 SF Truck Court: -
Tenancy: Multi
Power: 120-208a/200-208v 3pCeiling Height: 20'
Land Acres: 11.09 AC
Construction: Reinforced Concrete Taxes: $1.63 (2012)
Parking: 134 free Surface Spaces are available; Ratio of 2.28/1,000 SF
Features: Fenced Lot, Skylights
Cranes: None
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 25
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
4114 N Pecos RdLas Vegas, NV 89115 - Distance to Subject Property: 1.7 Miles
13
COMPARISON
Vacancy %: 23.1% 100%
Available SF: 10,099 0
Asking Rent: $0.50/SF/Mo -
Months To Lease: - 7 mo
Time On Market: 1 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 10,099
Range: 10,099
Max Contig: 10,099
% Sublet: 0%
Asking Rent: $0.50/NNN
PROPERTY
Type: Warehouse Docks: 13 ext
Year Built/Renov: 1999 Drive Ins: 7 tot./10'w x 14'h
RBA: 43,692 SF Truck Court: -
Tenancy: Multi
Power: 1,200a/277-480v 3p Hea…Ceiling Height: 20'
Land Acres: 2.40 AC
Construction: Reinforced Concrete Taxes: $1.56 (2012)
Parking: 77 free Surface Spaces are available; Ratio of 1.37/1,000 SF
Features: 24 Hour Availability, Air Conditioning, Bus Line, Signage, Storage Sp…
Cranes: None
Rail Served: None
3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - Distance to Subject Property: 1.6 Miles
14
COMPARISON
Vacancy %: 12.6% 100%
Available SF: 5,707 0
Asking Rent: $0.49/SF/Mo -
Months To Lease: 16 mo 7 mo
Time On Market: 7 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 5,707
Range: 5,707
Max Contig: 5,707
% Sublet: 0%
Asking Rent: $0.49/NNN
PROPERTY
Type: Warehouse Docks: None
Year Built/Renov: 2008 Drive Ins: 16 tot./12'w x 14'h
RBA: 45,200 SF Truck Court: -
Tenancy: Multi
Power: 200a/480v 3pCeiling Height: 22'
Land Acres: 4.32 AC
Construction: Reinforced Concrete Taxes: $0.62 (2012)
Parking: 76 free Surface Spaces are available; Ratio of 1.68/1,000 SF
Features: Air Conditioning, Cooler, Mezzanine, Signage, Skylights
Cranes: -
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 26
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Distance to Subject Property: 4.1 Miles
15
COMPARISON
Vacancy %: 13.2% 100%
Available SF: 7,592 0
Asking Rent: $0.46/SF/Mo -
Months To Lease: 5 mo 7 mo
Time On Market: 7 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 7,592
Range: 7,592
Max Contig: 7,592
% Sublet: 0%
Asking Rent: $0.46/NNN
PROPERTY
Type: Warehouse Docks: 3 ext
Year Built/Renov: 1998 Drive Ins: 9 tot./10'w x 12'h
RBA: 57,699 SF Truck Court: -
Tenancy: Multi
Power: 277-408v 3p 4wCeiling Height: 12'-28'
Land Acres: 3.79 AC
Construction: Reinforced Concrete Taxes: $0.23 (2015)
Parking: 122 free Surface Spaces are available; Ratio of 2.11/1,000 SF
Features: Air Conditioning, Property Manager on Site, Signage, Skylights
Cranes: None
Rail Served: None
595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - Distance to Subject Property: 3.8 Miles
16
COMPARISON
Vacancy %: 0% 100%
Available SF: 1,645 0
Asking Rent: $0.06/SF/Mo -
Months To Lease: 5 mo 7 mo
Time On Market: 1 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 1,645
Range: 1,645
Max Contig: 1,645
% Sublet: 0%
Asking Rent: $0.06/NNN
PROPERTY
Type: Warehouse Docks: 1 ext
Year Built/Renov: 2001 Drive Ins: 13 tot./10'w x 13'h
RBA: 20,000 SF Truck Court: -
Tenancy: Multi
Power: 3pCeiling Height: 20'
Land Acres: 10.61 AC
Construction: Reinforced Concrete Taxes: $3.32 (2012)
Parking: 86 free Surface Spaces are available; Ratio of 4.25/1,000 SF
Features: Bus Line
Cranes: None
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 27
Peer Property Detail With Availability3950-3970 Las Vegas Blvd
537 E Brooks Ave - Bldg DNorth Las Vegas, NV 89030 - Distance to Subject Property: 3.9 Miles
17
COMPARISON
Vacancy %: 11.0% 100%
Available SF: 3,300 0
Asking Rent: $0.06/SF/Mo -
Months To Lease: 3 mo 7 mo
Time On Market: 1 mo -
THIS PROPERTY SUBJECT
AVAILABILITY
Spaces: 1
Square Feet: 3,300
Range: 3,300
Max Contig: 3,300
% Sublet: 0%
Asking Rent: $0.06/NNN
PROPERTY
Type: Distribution Docks: 7 ext
Year Built/Renov: 2001 Drive Ins: 11 tot./10'w x 13'h
RBA: 30,000 SF Truck Court: -
Tenancy: Multi
Power: 200a/120-208v 3p 4wCeiling Height: 20'
Land Acres: 10.61 AC
Construction: Reinforced Concrete Taxes: $2.21 (2012)
Parking: 100 free Surface Spaces are available; Ratio of 3.33/1,000 SF
Features: Bus Line, Fenced Lot
Cranes: None
Rail Served: None
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 28
Peer Property Detail Without Availability
No Peers Found
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Page 29
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Leasing Analytics
33,600 SF Industrial Warehouse
LAS VEGAS VACANCY OVERVIEW
Net absorption has maintained a healthy pace the lastfew years holding vacancies relatively steady, even witha sizable increase in speculative construction. The morethan seven million SF delivered in 2017 and over twoand half million SF under construction are likely to putupward pressure on vacancies, but continued healthydemand should keep vacancies from rising too sharply.
Logistics makes up over 70% of the industrial inventoryin Las Vegas and has typically served the local market,which limited tenant demand for large-scale industrialdevelopment. However, city officials are working toreinvent the area as a regional logistics hub and attractmore national tenants to fill the major speculativeprojects underway.
A number of large tenants have taken occupancy hereover the past year. In June 2017, Fanatics, an onlineretailer of licensed sportswear, moved into 400,000 SF inthe North Las Vegas Submarket. Dr. Pepper Snapplemoved into the entirety of the 100,000 SF Building 13 atthe Prologis Corporate Center in November 2017.Located in Prologis Park North, the facility features a 32-foot clear height and 21 dock doors. Third-party logisticsfirm NEXgistics leased more than 83,000 SF at theneighboring Building 12, which has similar characteristicsto Building 13. Also in late 2017, Amazon and TheHonest Co. took delivery and moved into their newdistribution buildings in the North Las Vegas Submarket.
VACANCY RATE
Vacancy Analytics3950-3970 Las Vegas Blvd
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Page 31
Vacancy Analytics3950-3970 Las Vegas Blvd
VACANCY RATE
Vacancy Trend (YOY) VacancyTrend (YOY) Trend (YOY)VacancyTrend (YOY)Vacancy
3950-3970 Las Vegas Blvd Peers North Las Vegas Las Vegas
-0.6%12.2%-0.1%10.9%-9.4%15.5%0%0%2012
-1.9%10.3%-2.5%8.4%-4.3%11.2%0%0%2013
-2.2%8.1%-1.2%7.2%4.5%15.7%0%0%2014
-2.2%5.9%-3%4.1%-7.3%8.4%0%0%2015
0.1%6.0%1.5%5.7%2.4%10.8%34.2%34.2%2016
-0.4%5.6%0.7%6.4%-3.5%7.4%-34.2%0%2017
-1.1%4.6%-0.3%6.1%4.3%17.2%56.8%100%YTD
-1.4%4.2%-0.7%5.7%2018
-0.1%4.1%-0.2%5.5%2019
0.3%4.4%0.4%5.9%2020 Forecast >
0.7%5.1%0.8%6.7%2021
0.6%5.7%0.5%7.1%2022
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Page 32
Vacancy Analytics3950-3970 Las Vegas Blvd
AVAILABILITY RATE
AVAILABILITY RATE
Availability Trend (YOY) AvailabilityTrend (YOY) Trend (YOY)AvailabilityTrend (YOY)Availability
3950-3970 Las Vegas Blvd Peers North Las Vegas Las Vegas
-0.8%14.9%-2.5%13.1%-9.8%19.2%0%0%2012
-3.3%11.6%-3.2%9.9%-7.8%11.4%0%0%2013
-3%8.6%-1.9%7.9%0.4%11.8%0%0%2014
-0.2%8.4%-1.5%6.4%-1.8%10.0%0%0%2015
-0.1%8.2%3%9.4%-0.5%9.5%34.2%34.2%2016
-1.8%6.4%-3%6.4%0.7%10.1%-34.2%0%2017
-0.9%7.5%0.3%11.1%4.9%17.0%56.8%100%2018 YTD
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Page 33
Vacancy Analytics3950-3970 Las Vegas Blvd
MEDIAN MONTHS ON MARKET
MEDIAN MONTHS ON MARKET
Peers North Las Vegas Ind Las Vegas
2008 5.2 4.6 4.6
2009 6.8 6.6 6.5
2010 8.6 10.5 10.8
2011 9.7 15.3 14.1
2012 10.4 18.4 16.7
2013 11.4 14.7 18.4
2014 11.1 13.8 16.2
2015 6.1 10.2 13.3
2016 5.3 6.8 8.7
2017 5.3 4.9 6.3
2018 2.9 4.5 4.2
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Page 34
Vacancy Analytics3950-3970 Las Vegas Blvd
RENEWAL RATES
RENEWAL RATES
North Las Vegas Ind & Adjacent Las Vegas
2008 60.9% 49.2%
2009 56.0% 50.0%
2010 45.9% 56.4%
2011 56.5% 63.2%
2012 66.2% 64.4%
2013 73.5% 63.4%
2014 77.9% 66.5%
2015 70.1% 68.5%
2016 64.7% 63.3%
2017 61.8% 55.2%
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Page 35
Rent Analytics3950-3970 Las Vegas Blvd
LAS VEGAS RENT TRENDS
Rent growth in Las Vegas continues to be strong ataround 6.0%, picking up after slowing slightly in 2017,though still trailing the gains of over 8% in 2015 and2016. Logistics continues to see robust rent gains evenwith the influx of new development.
Las Vegas experienced a later recovery than most
industrial markets, and rents only started to rise again in2013. The previous downturn inflicted dramatic rentlosses on the metro, pushing them down more than 30%from their previous peak. With the influx of constructionand deliveries, future rent growth will likely be temperedby supply pressures.
ASKING RENT PER SQUARE FOOT
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Page 36
Rent Analytics3950-3970 Las Vegas Blvd
ASKING RENT PER SQUARE FOOT
Rent Trend (YOY) RentTrend (YOY) Trend (YOY)RentTrend (YOY)Rent
3950-3970 Las Vegas Blvd (Direct) Peers (Direct) North Las Vegas (Same Store) Las Vegas (Same Store)
-3.7%$0.50-4.2%$0.39-24.5%$0.36--2012
1.1%$0.501%$0.391%$0.37--2013
5.6%$0.536.5%$0.420.5%$0.37--2014
7.9%$0.579.2%$0.4630.6%$0.48-$0.402015
8.3%$0.629.1%$0.504.1%$0.5020%$0.482016
6.8%$0.666.9%$0.535.8%$0.530%$0.482017
4%$0.693.8%$0.5515.6%$0.57--YTD
6.1%$0.705.9%$0.562018
5.5%$0.745.5%$0.602019
2.1%$0.762%$0.612020 Forecast >
0.8%$0.770.8%$0.612021
1.6%$0.781.6%$0.622022
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Page 37
Absorption Analytics3950-3970 Las Vegas Blvd
NET ABSORPTION IN PEERS IN SQUARE FEET
NET ABSORPTION IN NORTH LAS VEGAS IND SUBMARKET IN SQUARE FEET
NET ABSORPTION IN LAS VEGAS IN SQUARE FEET
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Page 38
Leasing Analytics3950-3970 Las Vegas Blvd
LEASING ACTIVITY IN PEERS IN SQUARE FEET
LEASING ACTIVITY IN NORTH LAS VEGAS SUBMARKET IN SQUARE FEET
LEASING ACTIVITY IN LAS VEGAS IN SQUARE FEET
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Leasing Analytics3950-3970 Las Vegas Blvd
SUBLEASE SPACE AVAILABLE IN LAS VEGAS IN SQUARE FEET
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 40
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Lease Comps
33,600 SF Industrial Warehouse
Lease Comps Summary3950-3970 Las Vegas Blvd
Deals
80Asking Rent Per SF
$0.53Starting Rent Per SF
$0.54Avg. Months On Market
10TOP 50 LEASE COMPARABLES
SUMMARY STATISTICS
Rent Deals Low Average Median High
Asking Rent Per SF
Starting Rent Per SF
Effective Rent Per SF
Asking Rent Discount
TI Allowance
Months Free Rent
72
14
7
9
-
1
$0.40
$0.42
$0.45
0.0%
-
0
$0.53
$0.54
$0.54
1.1%
-
0
$0.58
$0.60
$0.52
0.0%
-
0
5.5%
-
0
$0.85
$0.75
$0.70
Lease Attributes Deals Low Average Median High
Months on Market
Deal Size
Lease Deal in Years
Floor Number
70
80
31
80
1
873
1.0
1
10
4,515
2.6
1
5
3,754
3.0
1 1
63
24,000
9.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Page 42
Lease Comps Summary3950-3970 Las Vegas Blvd
Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type
Lease
Type
Rents
-1 Harsch Cheyenne Comm…2,100 1st 9/7/2018 $0.70/nnn Asking
570 W Cheyenne AveNew
-2 Bldg A3,557 1st 9/7/2018 $0.65/nnn Asking
720 W Cheyenne AveNew
-3 Bldg 64,584 1st 8/22/2018 $0.62/nnn Asking
3680 N 5th StNew
-4 Bldg B6,600 1st 6/25/2018 $0.58/nnn Asking
4336 Losee RdNew
-2 Bldg A1,990 1st 6/15/2018 $0.70/nnn Asking
720 W Cheyenne AveNew
-1 Harsch Cheyenne Comm…873 1st 6/13/2018 $0.85/nnn Asking
570 W Cheyenne AveNew
-2 Bldg A1,465 1st 6/1/2018 $0.75/nnn Asking
720 W Cheyenne AveNew
-5 3,828 SF w/ 2 Docks imm…3,828 1st 5/25/2018 $0.70/nnn Effective
4535 Statz StNew
-6 Bldg A5,985 1st 5/21/2018 - -
4310 Losee RdNew
-7 Bldg 33,460 1st 3/30/2018 $0.62/nnn Asking
3660 N 5th StNew
-8 Bldg C1,610 1st 3/16/2018 $0.69/nnn Asking
595 E Brooks AveNew
-3 Bldg 64,584 1st 3/8/2018 $0.55/nnn Asking
3680 N 5th StNew
-9 Bldg K7,592 1st 2/15/2018 $0.46/nnn Asking
6845 Speedway BlvdNew
-2 Bldg A873 1st 2/8/2018 $0.85/nnn Asking
720 W Cheyenne AveNew
-8 Bldg C1,610 1st 1/31/2018 $0.69/nnn Asking
595 E Brooks AveNew
-2 Bldg A2,100 1st 1/19/2018 $0.65/nnn Asking
720 W Cheyenne AveNew
-1 Harsch Cheyenne Comm…2,121 1st 1/9/2018 $0.65/nnn Asking
570 W Cheyenne AveNew
-4 Bldg B6,600 1st 1/4/2018 $0.58/nnn Asking
4336 Losee RdNew
-10 Walnut Business Park5,718 1st 12/31/2017 $0.49/nnn Asking
3020 N Walnut RdNew
-11 Bldg B1,980 1st 11/17/2017 $0.65/nnn Asking
730 W Cheyenne AveNew
-10 Walnut Business Park12,079 1st 11/3/2017 $0.49/nnn Asking
3020 N Walnut RdNew
-Bldg B
1,559 1st 10/23/2017 $0.75/nnn AskingNew
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 43
Lease Comps Summary3950-3970 Las Vegas Blvd
Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type
Lease
Type
Rents
-11 Bldg B1,559 1st 10/23/2017 $0.75/nnn Asking
730 W Cheyenne AveNew
-11 Bldg B1,559 1st 10/23/2017 $0.75/nnn Asking
730 W Cheyenne AveNew
-6 Bldg A5,050 1st 10/9/2017 $0.68/nnn Asking
4310 Losee RdNew
-4 Bldg B13,350 1st 10/9/2017 $0.58/nnn Asking
4336 Losee RdNew
-1 Harsch Cheyenne Comm…7,402 1st 10/1/2017 $0.56 Starting
570 W Cheyenne AveRenewal
-8 Bldg C1,610 1st 9/27/2017 $0.70/nnn Asking
595 E Brooks AveNew
-4 Bldg B6,336 1st 8/18/2017 $0.58/nnn Asking
4336 Losee RdNew
-12 GBS Two24,000 1st 7/7/2017 $0.42/nnn Asking
4724 Mitchell StNew
-12 GBS Two6,400 1st 7/7/2017 $0.42/nnn Asking
4724 Mitchell StNew
-13 Bldg D3,300 1st 6/20/2017 $0.63/nnn Effective
537 E Brooks AveNew
-7 Bldg 34,382 1st 5/22/2017 $0.50/nnn Asking
3660 N 5th StNew
-1 Harsch Cheyenne Comm…873 1st 5/22/2017 $0.75/nnn Asking
570 W Cheyenne AveNew
-14 3950-3970 Las Vegas Blvd2,500 1st 5/18/2017 $0.48/nnn AskingNew
-5 3,828 SF w/ 2 Docks imm…3,828 1st 5/15/2017 $0.61/nnn Effective
4535 Statz StRenewal
-11 Bldg B5,775 1st 5/2/2017 $0.60/nnn Starting
730 W Cheyenne AveNew
-10 Walnut Business Park5,687 1st 4/24/2017 $0.45/mg Effective
3020 N Walnut RdNew
-10 Walnut Business Park5,685 1st 4/17/2017 $0.48/mg Effective
3020 N Walnut RdNew
-11 Bldg B1,639 1st 4/15/2017 $0.75/nnn Starting
730 W Cheyenne AveNew
-11 Bldg B1,639 1st 4/15/2017 $0.75/nnn Starting
730 W Cheyenne AveNew
-9 Bldg K7,592 1st 3/2/2017 $0.42/nnn Starting
6845 Speedway BlvdNew
-8 Bldg C1,610 1st 1/2/2017 $0.65/nnn Starting
595 E Brooks AveNew
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 44
Lease Comps Summary3950-3970 Las Vegas Blvd
Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type
Lease
Type
Rents
-1 Harsch Cheyenne Comm…2,100 1st 1/2/2017 $0.65/nnn Starting
570 W Cheyenne AveNew
-7 Bldg 34,382 1st 12/19/2016 $0.50/nnn Asking
3660 N 5th StNew
-7 Bldg 33,312 1st 12/19/2016 $0.55/nnn Asking
3660 N 5th StNew
-10 Walnut Business Park5,707 1st 12/9/2016 $0.50/nnn Asking
3020 N Walnut RdNew
-10 Walnut Business Park5,685 1st 11/15/2016 $0.50/nnn Asking
3020 N Walnut RdNew
-10 Walnut Business Park5,750 1st 10/26/2016 $0.45/nnn Asking
3020 N Walnut RdNew
-5 3,828 SF w/ 2 Docks imm…4,646 1st 10/14/2016 $0.52/nnn Effective
4535 Statz StNew
-11 Bldg B4,684 1st 10/13/2016 $0.65/nnn Asking
730 W Cheyenne AveNew
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Page 45
Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.70/NNN
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 2,100 SF
Sign Date: Sep 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: D-170
LEASE TERM
Start Date: Oct 2018
Expiration Date: Oct 2027
Lease Term: 9 Years
TIME VACANT
Date Vacated: Aug 2018
Date Occupied: Oct 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Aug 2018
Date Off Market: Sep 2018
Months on Market: 1 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 19.7%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2018 Q3 YOY
1.7%
-2.0%
5.8%Current Building 19.7%
Submarket 2-4 Star
Market Overall 4.6%
6.5%
Same Store Asking Rent/SF 2018 Q3 YOY
5.9%
6.0%
5.2%Current Building $0.70
Submarket 2-4 Star
Market Overall $0.69
$0.57
Submarket Leasing Activity 2018 Q3 YOY
0.1
47.5%12 Mo. Leased SF 5,090,456
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Lease Comps Details3950-3970 Las Vegas Blvd
2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
PROPERTY EXPENSES
Taxes: $1.68/SF (2012)
Operating Exp.: $0.84/SF (2012)
Total Exp.: $2.52/SF (2012)
LEASE
SF Leased: 3,557 SF
Sign Date: Sep 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-130
LEASE TERM
Start Date: Oct 2018
Expiration Date: Oct 2027
Lease Term: 9 Years
TIME VACANT
Date Vacated: Oct 2018
Date Occupied: Oct 2018
Months Vacant: 6 Days
TIME ON MARKET
Date On Market: Jul 2018
Date Off Market: Sep 2018
Months on Market: 3 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,651 SF
Stories: 1
Floor Size: 44,651 SF
Ceiling Height: 18'
Vacancy at Lease: 3.3%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 Surface Spaces…
MARKET AT LEASE
Vacancy Rates 2018 Q3 YOY
1.7%
-2.0%
3.3%Current Building 3.3%
Submarket 2-4 Star
Market Overall 4.6%
6.5%
Same Store Asking Rent/SF 2018 Q3 YOY
5.9%
6.0%
0.0%Current Building $0.65
Submarket 2-4 Star
Market Overall $0.69
$0.57
Submarket Leasing Activity 2018 Q3 YOY
0.1
47.5%12 Mo. Leased SF 5,090,456
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Lease Comps Details3950-3970 Las Vegas Blvd
3 3680 N 5th St - Bldg 6North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.62/NNN
PROPERTY EXPENSES
Taxes: $3.48/SF (2012)
Operating Exp.: $1.20/SF (2012)
Total Exp.: $4.68/SF (2012)
LEASE
SF Leased: 4,584 SF
Sign Date: Aug 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 100
LEASE TERM
Start Date: Sep 2018
Expiration Date: Sep 2022
Lease Term: 4 Years
TIME VACANT
Date Vacated: Jan 2017
Date Occupied: Sep 2018
Months Vacant: 20 Months
TIME ON MARKET
Date On Market: Jan 2017
Date Off Market: Aug 2018
Months on Market: 20 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 18,858 SF
Stories: 1
Floor Size: 18,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 61.7%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 36 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q3 YOY
2.0%
-2.0%
38.3%Current Building 61.7%
Submarket 1-3 Star
Market Overall 4.6%
7.2%
Same Store Asking Rent/SF 2018 Q3 YOY
6.0%
6.0%
3.7%Current Building $0.58
Submarket 1-3 Star
Market Overall $0.69
$0.62
Submarket Leasing Activity 2018 Q3 YOY
0.1
47.5%12 Mo. Leased SF 5,090,456
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Lease Comps Details3950-3970 Las Vegas Blvd
4 4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.58/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
Space Condition: Excellent
PROPERTY EXPENSES
Taxes: $0.67/SF (2012)
Operating Exp.: $1.80/SF (2011-Est);…
LEASE
SF Leased: 6,600 SF
Sign Date: Jun 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B-10
LEASE TERM
Start Date: Aug 2018
TIME VACANT
Date Vacated: Aug 2018
Date Occupied: Aug 2018
Months Vacant: 1 Day
TIME ON MARKET
Date On Market: May 2018
Date Off Market: Jun 2018
Months on Market: 2 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Suzette LaGrange CCIM (702) 836-3799
Kara M. Walker, CCIM (702) 836-3705
PROPERTY
Rentable Area: 66,000 SF
Stories: 1
Floor Size: 66,000 SF
Ceiling Height: 22'
Vacancy at Lease: 0.0%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 92 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
20.2%Current Building 0.0%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
1.7%Current Building $0.58
Submarket 2-4 Star
Market Overall $0.69
$0.56
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Lease Comps Details3950-3970 Las Vegas Blvd
2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Oasis Moving & Storage
Industry: Business Services
RENTS
Asking Rent: $0.70/NNN
PROPERTY EXPENSES
Taxes: $1.68/SF (2012)
Operating Exp.: $0.84/SF (2012)
Total Exp.: $2.52/SF (2012)
LEASE
SF Leased: 1,990 SF
Sign Date: Jun 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-10
LEASE TERM
Start Date: Jun 2018
TIME VACANT
Date Vacated: May 2018
Date Occupied: Jun 2018
Months Vacant: 1 Month
TIME ON MARKET
Date On Market: Jun 2018
Date Off Market: Jun 2018
Months on Market: 1 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 44,651 SF
Stories: 1
Floor Size: 44,651 SF
Ceiling Height: 18'
Vacancy at Lease: 3.3%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 Surface Spaces…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
8.6%Current Building 3.3%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
11.0%Current Building $0.72
Submarket 2-4 Star
Market Overall $0.69
$0.56
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
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Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.85/NNN
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 873 SF
Sign Date: Jun 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: D40
LEASE TERM
Start Date: Jun 2018
TIME VACANT
Date Vacated: Apr 2018
Date Occupied: Jun 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Feb 2018
Date Off Market: Jun 2018
Months on Market: 4 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 0.0%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
0.0%Current Building 0.0%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
11.6%Current Building $0.74
Submarket 2-4 Star
Market Overall $0.69
$0.56
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 51
Lease Comps Details3950-3970 Las Vegas Blvd
2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Elite Collection Services
RENTS
Asking Rent: $0.75/NNN
PROPERTY EXPENSES
Taxes: $1.68/SF (2012)
Operating Exp.: $0.84/SF (2012)
Total Exp.: $2.52/SF (2012)
LEASE
SF Leased: 1,465 SF
Sign Date: Jun 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-30
LEASE TERM
Start Date: Jun 2018
TIME VACANT
Date Vacated: Mar 2018
Date Occupied: Jun 2018
Months Vacant: 3 Months
TIME ON MARKET
Date On Market: Nov 2017
Date Off Market: Jun 2018
Months on Market: 7 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 44,651 SF
Stories: 1
Floor Size: 44,651 SF
Ceiling Height: 18'
Vacancy at Lease: 3.3%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 Surface Spaces…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
8.6%Current Building 3.3%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
11.0%Current Building $0.72
Submarket 2-4 Star
Market Overall $0.69
$0.56
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 52
Lease Comps Details3950-3970 Las Vegas Blvd
5 4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.70/NNN
Starting Rent: $0.70/NNN
Effective Rent: $0.70/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
Mo. Free Rents: 0 Months
PROPERTY EXPENSES
Taxes: $0.79/SF (2017)
Operating Exp.: $1.56/SF (2010-Est);…
LEASE
SF Leased: 3,828 SF
Sign Date: May 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 4535 Statz St Ste E
LEASE TERM
Start Date: Jun 2018
Expiration Date: May 2021
Lease Term: 3 Years
TIME VACANT
Date Vacated: May 2018
Date Occupied: Jun 2018
Months Vacant: 1 Month
TIME ON MARKET
Date On Market: Feb 2018
Date Off Market: Jun 2018
Months on Market: 4 Months
LEASING REP
RealComm Advisors
444 E Warm Springs Rd, Suite 120
Las Vegas, NV 89119
Greg Pancirov (702) 470-0780
PROPERTY
Rentable Area: 41,500 SF
Stories: 1
Floor Size: 41,500 SF
Ceiling Height: 17'
Vacancy at Lease: 0.0%
Land Acres: 3.13
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: A
Construction: Reinforced Concrete
Parking: 76 Surface Spaces a…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
0.0%Current Building 0.0%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
27.3%Current Building $0.70
Submarket 2-4 Star
Market Overall $0.69
$0.56
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 53
Lease Comps Details3950-3970 Las Vegas Blvd
6 4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Potomac River Holdings, LLC
PROPERTY EXPENSES
Taxes: $0.76/SF (2012)
Operating Exp.: $1.80/SF (2010-Est)
LEASE
SF Leased: 5,985 SF
Sign Date: May 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-1
LEASE TERM
Start Date: Jul 2018
Expiration Date: Jun 2020
Lease Term: 2 Years
TIME VACANT
Date Occupied: Jul 2018
TENANT REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Kara M. Walker, CCIM (702) 836-3705
PROPERTY
Rentable Area: 58,191 SF
Stories: 1
Floor Size: 58,191 SF
Ceiling Height: 22'
Vacancy at Lease: 0.0%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: C
Construction: Reinforced Concrete
Parking: 118 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2018 Q2 YOY
1.9%
1.5%
8.7%Current Building 0.0%
Submarket 2-4 Star
Market Overall 4.8%
6.5%
Same Store Asking Rent/SF 2018 Q2 YOY
7.0%
7.0%
Current Building $0.06
Submarket 2-4 Star
Market Overall $0.69
$0.56
-
Submarket Leasing Activity 2018 Q2 YOY
0.8
110.1%12 Mo. Leased SF 5,496,171
Months On Market 4.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 54
Lease Comps Details3950-3970 Las Vegas Blvd
7 3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Second Opinion Plumbing, LLC
RENTS
Asking Rent: $0.62/NNN
PROPERTY EXPENSES
Taxes: $3.30/SF (2012)
Operating Exp.: $0.84/SF (2011)
LEASE
SF Leased: 3,460 SF
Sign Date: Mar 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 100
LEASE TERM
Start Date: Apr 2018
TIME VACANT
Date Vacated: Feb 2018
Date Occupied: Apr 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Feb 2018
Date Off Market: Apr 2018
Months on Market: 2 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 19,858 SF
Stories: 1
Floor Size: 19,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 17.4%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 25 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
2.3%
0.7%
17.4%Current Building 17.4%
Submarket 1-3 Star
Market Overall 5.2%
6.7%
Same Store Asking Rent/SF 2018 Q1 YOY
7.4%
7.3%
24.0%Current Building $0.62
Submarket 1-3 Star
Market Overall $0.68
$0.60
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 55
Lease Comps Details3950-3970 Las Vegas Blvd
8 595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.69/NNN
PROPERTY EXPENSES
Taxes: $3.32/SF (2012)
Operating Exp.: $1.56/SF (2011)
LEASE
SF Leased: 1,610 SF
Sign Date: Mar 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 307
LEASE TERM
Start Date: Apr 2018
TIME VACANT
Date Vacated: Feb 2018
Date Occupied: Apr 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Nov 2017
Date Off Market: Mar 2018
Months on Market: 5 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 20,000 SF
Stories: 1
Floor Size: 20,000 SF
Ceiling Height: 20'
Vacancy at Lease: 8.1%
Land Acres: 10.61
Property Type: Industrial
Status: Built 2001
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 86 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
2.3%
0.7%
8.1%Current Building 8.1%
Submarket 1-3 Star
Market Overall 5.2%
6.7%
Same Store Asking Rent/SF 2018 Q1 YOY
7.4%
7.3%
6.2%Current Building $0.69
Submarket 1-3 Star
Market Overall $0.68
$0.60
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 56
Lease Comps Details3950-3970 Las Vegas Blvd
3 3680 N 5th St - Bldg 6North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Syer Metal Works, LLC
RENTS
Asking Rent: $0.55/NNN
PROPERTY EXPENSES
Taxes: $3.48/SF (2012)
Operating Exp.: $1.20/SF (2012)
Total Exp.: $4.68/SF (2012)
LEASE
SF Leased: 4,584 SF
Sign Date: Mar 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 120/130
LEASE TERM
Start Date: Mar 2018
Expiration Date: Mar 2019
Lease Term: 1 Year
TIME VACANT
Date Vacated: Jan 2017
Date Occupied: Mar 2018
Months Vacant: 14 Months
TIME ON MARKET
Date On Market: Jan 2017
Date Off Market: Mar 2018
Months on Market: 15 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 18,858 SF
Stories: 1
Floor Size: 18,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 100%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 36 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
2.3%
0.7%
0.0%Current Building 100%
Submarket 1-3 Star
Market Overall 5.2%
6.7%
Same Store Asking Rent/SF 2018 Q1 YOY
7.4%
7.3%
5.5%Current Building $0.57
Submarket 1-3 Star
Market Overall $0.68
$0.60
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 57
Lease Comps Details3950-3970 Las Vegas Blvd
9 6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Speedway Ind Submarket
TENANT
Tenant Name: Alexander Pizzorni
RENTS
Asking Rent: $0.46/NNN
PROPERTY EXPENSES
Taxes: $0.23/SF (2015)
Operating Exp.: $0.96/SF (2009)
LEASE
SF Leased: 7,592 SF
Sign Date: Feb 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: K-107
LEASE TERM
Start Date: Mar 2018
TIME VACANT
Date Vacated: Sep 2017
Date Occupied: Mar 2018
Months Vacant: 6 Months
TIME ON MARKET
Date On Market: Sep 2017
Date Off Market: Feb 2018
Months on Market: 6 Months
LEASING REP
Harsch Investment Properties
3111 S Valley View Blvd, Suite K-101
Las Vegas, NV 89102-8317
Amanda McCauley (702) 362-1400
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 57,699 SF
Stories: 1
Floor Size: 57,699 SF
Ceiling Height: 12'-28'
Vacancy at Lease: 13.2%
Land Acres: 3.79
Property Type: Industrial
Status: Built 1998
Tenancy: Multi
Class: C
Construction: Reinforced Concrete
Parking: 122 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
0.5%
0.7%
0.0%Current Building 13.2%
Submarket 2-4 Star
Market Overall 5.2%
8.0%
Same Store Asking Rent/SF 2018 Q1 YOY
9.5%
7.3%
9.5%Current Building $0.46
Submarket 2-4 Star
Market Overall $0.68
$0.50
Submarket Leasing Activity 2018 Q1 YOY
2.3
112.7%12 Mo. Leased SF 469,736
Months On Market 4.6
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 58
Lease Comps Details3950-3970 Las Vegas Blvd
2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Passport to Independence
Industry: Medical
NAICS: Psychiatric and Substance Abuse Hospitals - 622210
RENTS
Asking Rent: $0.85/NNN
PROPERTY EXPENSES
Taxes: $1.68/SF (2012)
Operating Exp.: $0.84/SF (2012)
Total Exp.: $2.52/SF (2012)
LEASE
SF Leased: 873 SF
Sign Date: Feb 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-180
LEASE TERM
Start Date: Feb 2018
TIME VACANT
Date Vacated: Dec 2017
Date Occupied: Feb 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Nov 2017
Date Off Market: Feb 2018
Months on Market: 4 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 44,651 SF
Stories: 1
Floor Size: 44,651 SF
Ceiling Height: 18'
Vacancy at Lease: 3.3%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 Surface Spaces…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
1.9%
0.7%
2.7%Current Building 3.3%
Submarket 2-4 Star
Market Overall 5.2%
6.1%
Same Store Asking Rent/SF 2018 Q1 YOY
7.3%
7.3%
11.1%Current Building $0.72
Submarket 2-4 Star
Market Overall $0.68
$0.56
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 59
Lease Comps Details3950-3970 Las Vegas Blvd
8 595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Techcool
RENTS
Asking Rent: $0.69/NNN
PROPERTY EXPENSES
Taxes: $3.32/SF (2012)
Operating Exp.: $1.56/SF (2011)
LEASE
SF Leased: 1,610 SF
Sign Date: Jan 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 312
LEASE TERM
Start Date: Mar 2018
Expiration Date: Mar 2019
Lease Term: 1 Year
TIME VACANT
Date Vacated: Mar 2018
Date Occupied: Mar 2018
Months Vacant: 1 Day
TIME ON MARKET
Date On Market: May 2017
Date Off Market: Feb 2018
Months on Market: 9 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 20,000 SF
Stories: 1
Floor Size: 20,000 SF
Ceiling Height: 20'
Vacancy at Lease: 8.1%
Land Acres: 10.61
Property Type: Industrial
Status: Built 2001
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 86 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
2.3%
0.7%
8.1%Current Building 8.1%
Submarket 1-3 Star
Market Overall 5.2%
6.7%
Same Store Asking Rent/SF 2018 Q1 YOY
7.4%
7.3%
6.2%Current Building $0.69
Submarket 1-3 Star
Market Overall $0.68
$0.60
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 60
Lease Comps Details3950-3970 Las Vegas Blvd
2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
PROPERTY EXPENSES
Taxes: $1.68/SF (2012)
Operating Exp.: $0.84/SF (2012)
Total Exp.: $2.52/SF (2012)
LEASE
SF Leased: 2,100 SF
Sign Date: Jan 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: A-80
LEASE TERM
Start Date: Mar 2018
TIME VACANT
Date Vacated: Mar 2018
Date Occupied: Mar 2018
Months Vacant: 1 Day
TIME ON MARKET
Date On Market: Nov 2017
Date Off Market: Jan 2018
Months on Market: 3 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,651 SF
Stories: 1
Floor Size: 44,651 SF
Ceiling Height: 18'
Vacancy at Lease: 3.3%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 Surface Spaces…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
1.9%
0.7%
2.7%Current Building 3.3%
Submarket 2-4 Star
Market Overall 5.2%
6.1%
Same Store Asking Rent/SF 2018 Q1 YOY
7.3%
7.3%
11.1%Current Building $0.72
Submarket 2-4 Star
Market Overall $0.68
$0.56
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 61
Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 2,121 SF
Sign Date: Jan 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: D-90
LEASE TERM
Start Date: Feb 2018
Lease Term: 1 Year
TIME VACANT
Date Vacated: Dec 2017
Date Occupied: Feb 2018
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Aug 2017
Date Off Market: Jan 2018
Months on Market: 5 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 0.0%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
1.9%
0.7%
2.0%Current Building 0.0%
Submarket 2-4 Star
Market Overall 5.2%
6.1%
Same Store Asking Rent/SF 2018 Q1 YOY
7.3%
7.3%
4.3%Current Building $0.71
Submarket 2-4 Star
Market Overall $0.68
$0.56
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 62
Lease Comps Details3950-3970 Las Vegas Blvd
4 4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.58/NNN
PROPERTY EXPENSES
Taxes: $0.67/SF (2012)
Operating Exp.: $1.80/SF (2011-Est);…
LEASE
SF Leased: 6,600 SF
Sign Date: Jan 2018
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B-5
LEASE TERM
Start Date: Feb 2018
TIME VACANT
Date Vacated: Nov 2017
Date Occupied: Feb 2018
Months Vacant: 3 Months
TIME ON MARKET
Date On Market: Oct 2017
Date Off Market: Jan 2018
Months on Market: 3 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Suzette LaGrange CCIM (702) 836-3799
Kara M. Walker, CCIM (702) 836-3705
PROPERTY
Rentable Area: 66,000 SF
Stories: 1
Floor Size: 66,000 SF
Ceiling Height: 22'
Vacancy at Lease: 9.8%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 92 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2018 Q1 YOY
1.9%
0.7%
9.8%Current Building 9.8%
Submarket 2-4 Star
Market Overall 5.2%
6.1%
Same Store Asking Rent/SF 2018 Q1 YOY
7.3%
7.3%
Current Building $0.58
Submarket 2-4 Star
Market Overall $0.68
$0.56
-
Submarket Leasing Activity 2018 Q1 YOY
0.2
126.8%12 Mo. Leased SF 4,954,425
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 63
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.49/NNN
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,718 SF
Sign Date: Dec 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 110
LEASE TERM
Start Date: Mar 2018
TIME VACANT
Date Vacated: Sep 2017
Date Occupied: Mar 2018
Months Vacant: 6 Months
TIME ON MARKET
Date On Market: Jul 2017
Date Off Market: Feb 2018
Months on Market: 6 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Jerry Doty (702) 836-3735
Chris Lane (702) 836-3728
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 12.7%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
12.6%Current Building 12.7%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
0.5%Current Building $0.49
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 64
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 1,980 SF
Sign Date: Nov 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B20
LEASE TERM
Start Date: Dec 2017
TIME VACANT
Date Vacated: Feb 2017
Date Occupied: Dec 2017
Months Vacant: 10 Months
TIME ON MARKET
Date On Market: Feb 2017
Date Off Market: Nov 2017
Months on Market: 10 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 2.9%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
5.6%Current Building 2.9%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
3.7%Current Building $0.73
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 65
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.49/NNN
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 12,079 SF
Sign Date: Nov 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 130 - 140
LEASE TERM
Start Date: Feb 2018
TIME VACANT
Date Vacated: Feb 2018
Date Occupied: Feb 2018
Months Vacant: 1 Day
TIME ON MARKET
Date On Market: Aug 2017
Date Off Market: Jan 2018
Months on Market: 3 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Jerry Doty (702) 836-3735
Chris Lane (702) 836-3728
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 12.7%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
12.6%Current Building 12.7%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
0.5%Current Building $0.49
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 66
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.75/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 1,559 SF
Sign Date: Oct 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B150
LEASE TERM
Start Date: Nov 2017
TIME VACANT
Date Vacated: Jan 2016
Date Occupied: Nov 2017
Months Vacant: 22 Months
TIME ON MARKET
Date On Market: Jan 2016
Date Off Market: Oct 2017
Months on Market: 21 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 2.9%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
5.6%Current Building 2.9%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
3.7%Current Building $0.73
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 67
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.75/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 1,559 SF
Sign Date: Oct 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B150
LEASE TERM
Start Date: Nov 2017
TIME VACANT
Date Vacated: Jan 2016
Date Occupied: Nov 2017
Months Vacant: 22 Months
TIME ON MARKET
Date On Market: Jan 2016
Date Off Market: Oct 2017
Months on Market: 21 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 2.9%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
5.6%Current Building 2.9%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
3.7%Current Building $0.73
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 68
Lease Comps Details3950-3970 Las Vegas Blvd
6 4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.68/NNN
PROPERTY EXPENSES
Taxes: $0.76/SF (2012)
Operating Exp.: $1.80/SF (2010-Est)
LEASE
SF Leased: 5,050 SF
Sign Date: Oct 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 4310-2
LEASE TERM
Start Date: Nov 2017
TIME VACANT
Date Vacated: Jun 2012
Date Occupied: Nov 2017
Months Vacant: 64 Months
TIME ON MARKET
Date On Market: Jun 2012
Date Off Market: Oct 2017
Months on Market: 64 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Suzette LaGrange CCIM (702) 836-3799
PROPERTY
Rentable Area: 58,191 SF
Stories: 1
Floor Size: 58,191 SF
Ceiling Height: 22'
Vacancy at Lease: 0.0%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: C
Construction: Reinforced Concrete
Parking: 118 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
2.0%Current Building 0.0%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
88.4%Current Building $0.06
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 69
Lease Comps Details3950-3970 Las Vegas Blvd
4 4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.58/NNN
PROPERTY EXPENSES
Taxes: $0.67/SF (2012)
Operating Exp.: $1.80/SF (2011-Est);…
LEASE
SF Leased: 13,350 SF
Sign Date: Oct 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 4336-B1-2
LEASE TERM
Start Date: Nov 2017
TIME VACANT
Date Vacated: Jun 2017
Date Occupied: Nov 2017
Months Vacant: 5 Months
TIME ON MARKET
Date On Market: Apr 2014
Date Off Market: Oct 2017
Months on Market: 42 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Suzette LaGrange CCIM (702) 836-3799
PROPERTY
Rentable Area: 66,000 SF
Stories: 1
Floor Size: 66,000 SF
Ceiling Height: 22'
Vacancy at Lease: 19.8%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 92 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
19.8%Current Building 19.8%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
Current Building $0.58
Submarket 2-4 Star
Market Overall $0.66
$0.55
-
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 70
Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Layout Co
Industry: Retailers/Wholesalers
NAICS: Hobby, Toy, and Game Stores - 451120
RENTS
Starting Rent: $0.56
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 7,402 SF
Sign Date: Oct 2017
Space Use: Industrial
Floor: 1st Floor
Suite: 120, 130
LEASE TERM
Start Date: Oct 2017
TIME VACANT
Date Occupied: Oct 2017
LEASING REP
Gatski Commercial
4755-4795 Dean Martin Dr, Suite # 4795
Las Vegas, NV 89103
Gabriel Telles (702) 221-8226
Ali Roesener (702) 221-8226
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 4.7%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q4 YOY
0.7%
0.4%
1.9%Current Building 4.7%
Submarket 2-4 Star
Market Overall 5.6%
3.7%
Same Store Asking Rent/SF 2017 Q4 YOY
6.9%
6.8%
2.8%Current Building $0.66
Submarket 2-4 Star
Market Overall $0.66
$0.55
Submarket Leasing Activity 2017 Q4 YOY
3.2
15.3%12 Mo. Leased SF 3,190,134
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 71
Lease Comps Details3950-3970 Las Vegas Blvd
8 595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.70/NNN
PROPERTY EXPENSES
Taxes: $3.32/SF (2012)
Operating Exp.: $1.56/SF (2011)
LEASE
SF Leased: 1,610 SF
Sign Date: Sep 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 304
LEASE TERM
Start Date: Oct 2017
Lease Term: 1 Year
TIME VACANT
Date Vacated: Oct 2017
Date Occupied: Oct 2017
Months Vacant: 1 Day
TIME ON MARKET
Date On Market: Aug 2017
Date Off Market: Sep 2017
Months on Market: 2 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 20,000 SF
Stories: 1
Floor Size: 20,000 SF
Ceiling Height: 20'
Vacancy at Lease: 8.1%
Land Acres: 10.61
Property Type: Industrial
Status: Built 2001
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 86 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q3 YOY
0.9%
0.4%
0.0%Current Building 8.1%
Submarket 1-3 Star
Market Overall 6.6%
5.4%
Same Store Asking Rent/SF 2017 Q3 YOY
7.5%
7.2%
1.8%Current Building $0.66
Submarket 1-3 Star
Market Overall $0.65
$0.59
Submarket Leasing Activity 2017 Q3 YOY
2.5
6.0%12 Mo. Leased SF 3,452,270
Months On Market 4.3
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 72
Lease Comps Details3950-3970 Las Vegas Blvd
4 4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Expansion of next door tenant
RENTS
Asking Rent: $0.58/NNN
PROPERTY EXPENSES
Taxes: $0.67/SF (2012)
Operating Exp.: $1.80/SF (2011-Est);…
LEASE
SF Leased: 6,336 SF
Sign Date: Aug 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B-6
LEASE TERM
Start Date: Oct 2017
TIME VACANT
Date Vacated: Nov 2017
Date Occupied: Oct 2017
TIME ON MARKET
Date On Market: Oct 2017
Date Off Market: Oct 2017
Months on Market: 0 Mos
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Suzette LaGrange CCIM (702) 836-3799
PROPERTY
Rentable Area: 66,000 SF
Stories: 1
Floor Size: 66,000 SF
Ceiling Height: 22'
Vacancy at Lease: 20.2%
Land Acres: 3.60
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 92 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q3 YOY
0.4%
0.4%
20.2%Current Building 20.2%
Submarket 2-4 Star
Market Overall 6.6%
4.8%
Same Store Asking Rent/SF 2017 Q3 YOY
7.2%
7.2%
Current Building $0.58
Submarket 2-4 Star
Market Overall $0.65
$0.54
-
Submarket Leasing Activity 2017 Q3 YOY
2.5
6.0%12 Mo. Leased SF 3,452,270
Months On Market 4.3
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 73
Lease Comps Details3950-3970 Las Vegas Blvd
12 4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.42/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $1.63/SF (2012)
Operating Exp.: $1.20/SF (2012)
Total Exp.: $2.83/SF (2012)
LEASE
SF Leased: 24,000 SF
Sign Date: Jul 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: C-E
LEASE TERM
Start Date: Oct 2017
TIME VACANT
Date Vacated: Jul 2016
Date Occupied: Oct 2017
Months Vacant: 15 Months
TIME ON MARKET
Date On Market: Apr 2016
Date Off Market: Jul 2017
Months on Market: 15 Months
LEASING REP
CBRE
3993 Howard Hughes Pky, Suite 700
Las Vegas, NV 89169-0961
Kevin Higgins (702) 369-4944
Garrett Toft (702) 369-4868
Zac Zaher (702) 369-4877
Sean Zaher (702) 369-4863
Jake Higgins (702) 369-4844
PROPERTY
Rentable Area: 60,800 SF
Stories: 1
Floor Size: 60,800 SF
Ceiling Height: 20'
Vacancy at Lease: 39.5%
Land Acres: 11.09
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 134 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q3 YOY
0.4%
0.4%
10.5%Current Building 39.5%
Submarket 2-4 Star
Market Overall 6.6%
4.8%
Same Store Asking Rent/SF 2017 Q3 YOY
7.2%
7.2%
0.0%Current Building $0.42
Submarket 2-4 Star
Market Overall $0.65
$0.54
Submarket Leasing Activity 2017 Q3 YOY
2.5
6.0%12 Mo. Leased SF 3,452,270
Months On Market 4.3
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 74
Lease Comps Details3950-3970 Las Vegas Blvd
12 4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.42/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $1.63/SF (2012)
Operating Exp.: $1.20/SF (2012)
Total Exp.: $2.83/SF (2012)
LEASE
SF Leased: 6,400 SF
Sign Date: Jul 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: G
LEASE TERM
Start Date: Sep 2017
TIME VACANT
Date Vacated: May 2016
Date Occupied: Sep 2017
Months Vacant: 16 Months
TIME ON MARKET
Date On Market: Apr 2016
Date Off Market: Jul 2017
Months on Market: 15 Months
LEASING REP
CBRE
3993 Howard Hughes Pky, Suite 700
Las Vegas, NV 89169-0961
Kevin Higgins (702) 369-4944
Garrett Toft (702) 369-4868
Zac Zaher (702) 369-4877
Sean Zaher (702) 369-4863
Jake Higgins (702) 369-4844
PROPERTY
Rentable Area: 60,800 SF
Stories: 1
Floor Size: 60,800 SF
Ceiling Height: 20'
Vacancy at Lease: 39.5%
Land Acres: 11.09
Property Type: Industrial
Status: Built 1997
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 134 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q3 YOY
0.4%
0.4%
10.5%Current Building 39.5%
Submarket 2-4 Star
Market Overall 6.6%
4.8%
Same Store Asking Rent/SF 2017 Q3 YOY
7.2%
7.2%
0.0%Current Building $0.42
Submarket 2-4 Star
Market Overall $0.65
$0.54
Submarket Leasing Activity 2017 Q3 YOY
2.5
6.0%12 Mo. Leased SF 3,452,270
Months On Market 4.3
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 75
Lease Comps Details3950-3970 Las Vegas Blvd
13 537 E Brooks Ave - Bldg DNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Poolserv LLC
RENTS
Asking Rent: $0.65/NNN
Starting Rent: $0.63/NNN
Effective Rent: $0.63/NNN
Escalations: $0.03 Annual
CONCESSIONS AND BUILDOUT
Asking Discount: 3.08%
PROPERTY EXPENSES
Taxes: $2.21/SF (2012)
Operating Exp.: $1.56/SF (2011)
LEASE
SF Leased: 3,300 SF
Sign Date: Jun 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
LEASE TERM
Start Date: Jul 2017
Expiration Date: Jul 2020
Lease Term: 3 Years 1 Month
TIME VACANT
Date Vacated: May 2017
Date Occupied: Jul 2017
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: May 2017
Date Off Market: Jul 2017
Months on Market: 1 Months
TENANT REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
Michael T. Brazill (702) 968-7306
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 30,000 SF
Stories: 1
Floor Size: 30,000 SF
Ceiling Height: 20'
Vacancy at Lease: 11.0%
Land Acres: 10.61
Property Type: Industrial
Status: Built 2001
Tenancy: Multi
Class: C
Construction: Reinforced Concrete
Parking: 100 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
10.2%Current Building 11.0%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
11.5%Current Building $0.65
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 76
Lease Comps Details3950-3970 Las Vegas Blvd
7 3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.50/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $3.30/SF (2012)
Operating Exp.: $0.84/SF (2011)
LEASE
SF Leased: 4,382 SF
Sign Date: May 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 110/120
LEASE TERM
Start Date: Jun 2017
TIME VACANT
Date Occupied: Jun 2017
TIME ON MARKET
Date On Market: Jan 2016
Date Off Market: May 2017
Months on Market: 17 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 19,858 SF
Stories: 1
Floor Size: 19,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 0.0%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 25 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.5%
0.1%
49.8%Current Building 0.0%
Submarket 1-3 Star
Market Overall 6.3%
4.6%
Same Store Asking Rent/SF 2017 Q2 YOY
7.3%
7.0%
6.7%Current Building $0.50
Submarket 1-3 Star
Market Overall $0.64
$0.57
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 77
Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Rose Parra
RENTS
Asking Rent: $0.75/NNN
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 873 SF
Sign Date: May 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: D180
LEASE TERM
Start Date: May 2017
TIME VACANT
Date Vacated: May 2016
Date Occupied: May 2017
Months Vacant: 12 Months
TIME ON MARKET
Date On Market: May 2016
Date Off Market: May 2017
Months on Market: 13 Months
TENANT REP
Mountain West Commercial
241 W Charleston Blvd
Las Vegas, NV 89102
Jakke Farley (702) 340-0907
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 0.0%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
13.4%Current Building 0.0%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
3.7%Current Building $0.67
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 78
Lease Comps Details3950-3970 Las Vegas Blvd
14 3950-3970 Las Vegas BlvdLas Vegas, NV 89115 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.48/NNN
PROPERTY EXPENSES
Taxes: $0.54/SF (2012)
LEASE
SF Leased: 2,500 SF
Sign Date: May 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
LEASE TERM
Start Date: Jun 2017
TIME VACANT
Date Vacated: Sep 2016
Date Occupied: Jun 2017
Months Vacant: 9 Months
TIME ON MARKET
Date On Market: Oct 2016
Date Off Market: May 2017
Months on Market: 7 Months
LEASING REP
Roger Pitts
13405 Telegraph Rd, Suite 120
Whittier, CA 90605-3435
Roger Pitts (702) 557-5141
PROPERTY
Rentable Area: 33,600 SF
Stories: 2
Floor Size: 8,800 SF
Ceiling Height: 20'
Vacancy at Lease: 26.8%
Land Acres: 2.08
Property Type: Industrial
Status: Built 2000
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 45 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.5%
0.1%
26.8%Current Building 26.8%
Submarket 1-3 Star
Market Overall 6.3%
4.6%
Same Store Asking Rent/SF 2017 Q2 YOY
7.3%
7.0%
Current Building $0.48
Submarket 1-3 Star
Market Overall $0.64
$0.57
-
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 79
Lease Comps Details3950-3970 Las Vegas Blvd
5 4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - North Las Vegas Ind Submarket
TENANT
Tenant Name: BG Southern Nevada LLC
RENTS
Starting Rent: $0.59/NNN
Effective Rent: $0.61/NNN
Escalations: 3% Annual
PROPERTY EXPENSES
Taxes: $0.79/SF (2017)
Operating Exp.: $1.56/SF (2010-Est);…
LEASE
SF Leased: 3,828 SF
Sign Date: May 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
LEASE TERM
Start Date: Jun 2017
Expiration Date: May 2020
Lease Term: 3 Years
TIME VACANT
Date Occupied: Jun 2017
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Michael G. DeLew (702) 470-0780
Greg Pancirov (702) 470-0780
PROPERTY
Rentable Area: 41,500 SF
Stories: 1
Floor Size: 41,500 SF
Ceiling Height: 17'
Vacancy at Lease: 0.0%
Land Acres: 3.13
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: A
Construction: Reinforced Concrete
Parking: 76 Surface Spaces a…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
8.9%Current Building 0.0%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
0.0%Current Building $0.55
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 80
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.60/NNN
Starting Rent: $0.60/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 5,775 SF
Sign Date: May 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B90
LEASE TERM
Start Date: Jul 2017
Lease Term: 1 Year
TIME VACANT
Date Vacated: Mar 2017
Date Occupied: Jul 2017
Months Vacant: 4 Months
TIME ON MARKET
Date On Market: Feb 2017
Date Off Market: Jul 2017
Months on Market: 3 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 19.2%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
7.9%Current Building 19.2%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
27.0%Current Building $0.55
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 81
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Nemra
RENTS
Starting Rent: $0.45/MG
Effective Rent: $0.45/MG
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,687 SF
Sign Date: Apr 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
LEASE TERM
Start Date: May 2017
Expiration Date: Apr 2022
Lease Term: 5 Years
TIME VACANT
Date Occupied: May 2017
LEASING REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
Cathy Jones (702) 968-7320
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 0.0%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
25.8%Current Building 0.0%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
11.8%Current Building $0.48
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 82
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
TENANT
Tenant Name: MJGYCO
RENTS
Starting Rent: $0.45/MG
Effective Rent: $0.48/MG
Escalations: 3% Annual
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,685 SF
Sign Date: Apr 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
LEASE TERM
Start Date: Jun 2017
Expiration Date: Jun 2020
Lease Term: 3 Years
TIME VACANT
Date Occupied: Jun 2017
LEASING REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
Renae E. Russo, LEED GA (702) 968-7319
Cathy Jones (702) 968-7320
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 0.0%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
25.8%Current Building 0.0%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
11.8%Current Building $0.48
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 83
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.75/NNN
Starting Rent: $0.75/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 1,639 SF
Sign Date: Apr 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B40
LEASE TERM
Start Date: May 2017
TIME VACANT
Date Vacated: Oct 2015
Date Occupied: May 2017
Months Vacant: 19 Months
TIME ON MARKET
Date On Market: Oct 2015
Date Off Market: Apr 2017
Months on Market: 19 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 19.2%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
7.9%Current Building 19.2%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
27.0%Current Building $0.55
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 84
Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.75/NNN
Starting Rent: $0.75/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 1,639 SF
Sign Date: Apr 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B140
LEASE TERM
Start Date: May 2017
TIME VACANT
Date Vacated: Jan 2016
Date Occupied: May 2017
Months Vacant: 16 Months
TIME ON MARKET
Date On Market: Jan 2016
Date Off Market: Apr 2017
Months on Market: 15 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 19.2%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q2 YOY
0.0%
0.1%
7.9%Current Building 19.2%
Submarket 2-4 Star
Market Overall 6.3%
4.5%
Same Store Asking Rent/SF 2017 Q2 YOY
7.1%
7.0%
27.0%Current Building $0.55
Submarket 2-4 Star
Market Overall $0.64
$0.53
Submarket Leasing Activity 2017 Q2 YOY
0.1
40.7%12 Mo. Leased SF 3,433,606
Months On Market 5.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 85
Lease Comps Details3950-3970 Las Vegas Blvd
9 6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Speedway Ind Submarket
TENANT
Tenant Name: Tilbury Enterprises
RENTS
Asking Rent: $0.42/NNN
Starting Rent: $0.42/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
PROPERTY EXPENSES
Taxes: $0.23/SF (2015)
Operating Exp.: $0.96/SF (2009)
LEASE
SF Leased: 7,592 SF
Sign Date: Mar 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 101
LEASE TERM
Start Date: May 2017
Expiration Date: May 2018
Lease Term: 1 Year
TIME VACANT
Date Vacated: Nov 2016
Date Occupied: May 2017
Months Vacant: 6 Months
TIME ON MARKET
Date On Market: Nov 2016
Date Off Market: May 2017
Months on Market: 4 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
Xavier Wasiak, SIOR (702) 304-2631
PROPERTY
Rentable Area: 57,699 SF
Stories: 1
Floor Size: 57,699 SF
Ceiling Height: 12'-28'
Vacancy at Lease: 13.2%
Land Acres: 3.79
Property Type: Industrial
Status: Built 1998
Tenancy: Multi
Class: C
Construction: Reinforced Concrete
Parking: 122 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q1 YOY
1.2%
0.0%
0.0%Current Building 13.2%
Submarket 2-4 Star
Market Overall 5.9%
8.4%
Same Store Asking Rent/SF 2017 Q1 YOY
7.9%
7.4%
5.0%Current Building $0.42
Submarket 2-4 Star
Market Overall $0.63
$0.46
Submarket Leasing Activity 2017 Q1 YOY
0.9
157.5%12 Mo. Leased SF 430,907
Months On Market 7.0
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 86
Lease Comps Details3950-3970 Las Vegas Blvd
8 595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
Starting Rent: $0.65/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
PROPERTY EXPENSES
Taxes: $3.32/SF (2012)
Operating Exp.: $1.56/SF (2011)
LEASE
SF Leased: 1,610 SF
Sign Date: Jan 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: C-306
LEASE TERM
Start Date: Feb 2017
TIME VACANT
Date Vacated: Aug 2016
Date Occupied: Feb 2017
Months Vacant: 6 Months
TIME ON MARKET
Date On Market: Aug 2016
Date Off Market: Jan 2017
Months on Market: 5 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Jason Simon (702) 522-5001
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 20,000 SF
Stories: 1
Floor Size: 20,000 SF
Ceiling Height: 20'
Vacancy at Lease: 0.0%
Land Acres: 10.61
Property Type: Industrial
Status: Built 2001
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 86 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2017 Q1 YOY
0.4%
0.0%
16.1%Current Building 0.0%
Submarket 1-3 Star
Market Overall 5.9%
4.4%
Same Store Asking Rent/SF 2017 Q1 YOY
7.8%
7.4%
18.2%Current Building $0.65
Submarket 1-3 Star
Market Overall $0.63
$0.56
Submarket Leasing Activity 2017 Q1 YOY
2.1
125.2%12 Mo. Leased SF 3,768,600
Months On Market 5.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 87
Lease Comps Details3950-3970 Las Vegas Blvd
1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
Starting Rent: $0.65/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 0.00%
PROPERTY EXPENSES
Taxes: $1.13/SF (2012)
Operating Exp.: $2.04/SF (2011)
LEASE
SF Leased: 2,100 SF
Sign Date: Jan 2017
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: D170
LEASE TERM
Start Date: Feb 2017
TIME VACANT
Date Vacated: Nov 2016
Date Occupied: Feb 2017
Months Vacant: 3 Months
TIME ON MARKET
Date On Market: Nov 2016
Date Off Market: Jan 2017
Months on Market: 2 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Jason Simon (702) 522-5001
Rob Lujan (702) 522-5002
PROPERTY
Rentable Area: 44,680 SF
Stories: 1
Floor Size: 44,680 SF
Ceiling Height: 18'
Vacancy at Lease: 2.0%
Land Acres: 7.60
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 135 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2017 Q1 YOY
0.3%
0.0%
14.2%Current Building 2.0%
Submarket 2-4 Star
Market Overall 5.9%
4.2%
Same Store Asking Rent/SF 2017 Q1 YOY
7.8%
7.4%
1.1%Current Building $0.68
Submarket 2-4 Star
Market Overall $0.63
$0.52
Submarket Leasing Activity 2017 Q1 YOY
2.1
125.2%12 Mo. Leased SF 3,768,600
Months On Market 5.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 88
Lease Comps Details3950-3970 Las Vegas Blvd
7 3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.50/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $3.30/SF (2012)
Operating Exp.: $0.84/SF (2011)
LEASE
SF Leased: 4,382 SF
Sign Date: Dec 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 150/160
LEASE TERM
Start Date: Jan 2017
TIME VACANT
Date Vacated: Jan 2016
Date Occupied: Jan 2017
Months Vacant: 12 Months
TIME ON MARKET
Date On Market: Jan 2016
Date Off Market: Dec 2016
Months on Market: 12 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 19,858 SF
Stories: 1
Floor Size: 19,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 38.7%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 25 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.4%
0.1%
27.7%Current Building 38.7%
Submarket 1-3 Star
Market Overall 6.0%
4.3%
Same Store Asking Rent/SF 2016 Q4 YOY
8.8%
8.3%
14.2%Current Building $0.51
Submarket 1-3 Star
Market Overall $0.62
$0.55
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 89
Lease Comps Details3950-3970 Las Vegas Blvd
7 3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.55/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $3.30/SF (2012)
Operating Exp.: $0.84/SF (2011)
LEASE
SF Leased: 3,312 SF
Sign Date: Dec 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 170
LEASE TERM
Start Date: Jan 2017
TIME VACANT
Date Vacated: Jan 2016
Date Occupied: Jan 2017
Months Vacant: 12 Months
TIME ON MARKET
Date On Market: Nov 2015
Date Off Market: Dec 2016
Months on Market: 14 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Xavier Wasiak, SIOR (702) 304-2631
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 19,858 SF
Stories: 1
Floor Size: 19,858 SF
Ceiling Height: 19'-20'
Vacancy at Lease: 38.7%
Land Acres: 1.45
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 25 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.4%
0.1%
27.7%Current Building 38.7%
Submarket 1-3 Star
Market Overall 6.0%
4.3%
Same Store Asking Rent/SF 2016 Q4 YOY
8.8%
8.3%
14.2%Current Building $0.51
Submarket 1-3 Star
Market Overall $0.62
$0.55
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 90
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.50/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,707 SF
Sign Date: Dec 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 180
LEASE TERM
Start Date: Feb 2017
TIME VACANT
Date Vacated: Dec 2012
Date Occupied: Feb 2017
Months Vacant: 50 Months
TIME ON MARKET
Date On Market: Dec 2012
Date Off Market: Dec 2016
Months on Market: 49 Months
LEASING REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
David Livingston
Roy Fritz (702) 968-7322
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 25.2%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.6%
0.1%
13.5%Current Building 25.2%
Submarket 2-4 Star
Market Overall 6.0%
4.4%
Same Store Asking Rent/SF 2016 Q4 YOY
9.0%
8.3%
14.7%Current Building $0.49
Submarket 2-4 Star
Market Overall $0.62
$0.51
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 91
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Sun Woo Jang
RENTS
Asking Rent: $0.50/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,685 SF
Sign Date: Nov 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 140
LEASE TERM
Start Date: Feb 2017
TIME VACANT
Date Occupied: Feb 2017
TIME ON MARKET
Date On Market: Sep 2016
Date Off Market: Dec 2016
Months on Market: 2 Months
LEASING REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
Cathy Jones (702) 968-7320
David Livingston
Roy Fritz (702) 968-7322
Sun Commercial Real Estate
8160 N Hayden Rd, Suite J-208
Scottsdale, AZ 85258-2484
Paul Miachika (602) 814-0661
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 25.2%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.6%
0.1%
13.5%Current Building 25.2%
Submarket 2-4 Star
Market Overall 6.0%
4.4%
Same Store Asking Rent/SF 2016 Q4 YOY
9.0%
8.3%
14.7%Current Building $0.49
Submarket 2-4 Star
Market Overall $0.62
$0.51
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
888211.For more information or to schedule a property tour CALL Casey Whiting
702.250.6504 Page 92
Lease Comps Details3950-3970 Las Vegas Blvd
10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.45/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.62/SF (2012)
LEASE
SF Leased: 5,750 SF
Sign Date: Oct 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 150
LEASE TERM
Start Date: Dec 2016
TIME VACANT
Date Occupied: Dec 2016
TIME ON MARKET
Date On Market: Sep 2016
Date Off Market: Oct 2016
Months on Market: 2 Months
LEASING REP
Sun Commercial Real Estate
6140 Brent Thurman Way, Suite 140
Las Vegas, NV 89148-5016
David Livingston
Roy Fritz (702) 968-7322
PROPERTY
Rentable Area: 45,200 SF
Stories: 1
Floor Size: 45,200 SF
Ceiling Height: 22'
Vacancy at Lease: 25.2%
Land Acres: 4.32
Property Type: Industrial
Status: Built 2008
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 76 free Surface Spa…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.6%
0.1%
13.5%Current Building 25.2%
Submarket 2-4 Star
Market Overall 6.0%
4.4%
Same Store Asking Rent/SF 2016 Q4 YOY
9.0%
8.3%
14.7%Current Building $0.49
Submarket 2-4 Star
Market Overall $0.62
$0.51
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
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Lease Comps Details3950-3970 Las Vegas Blvd
5 4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - North Las Vegas Ind Submarket
TENANT
Tenant Name: Peravan LLC
RENTS
Asking Rent: $0.55/NNN
Starting Rent: $0.52/NNN
Effective Rent: $0.52/NNN
CONCESSIONS AND BUILDOUT
Asking Discount: 5.45%
PROPERTY EXPENSES
Taxes: $0.79/SF (2017)
Operating Exp.: $1.56/SF (2010-Est);…
LEASE
SF Leased: 4,646 SF
Sign Date: Oct 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: 4535-B
LEASE TERM
Start Date: Nov 2016
Expiration Date: Oct 2019
Lease Term: 3 Years
TIME VACANT
Date Vacated: Oct 2016
Date Occupied: Nov 2016
Months Vacant: 1 Month
TIME ON MARKET
Date On Market: Oct 2016
Date Off Market: Oct 2016
Months on Market: 1 Months
LEASING REP
Colliers International
3960 Howard Hughes Pky, Suite 150
Las Vegas, NV 89169
Greg Pancirov (702) 470-0780
PROPERTY
Rentable Area: 41,500 SF
Stories: 1
Floor Size: 41,500 SF
Ceiling Height: 17'
Vacancy at Lease: 0.0%
Land Acres: 3.13
Property Type: Industrial
Status: Built 2004
Tenancy: Multi
Class: A
Construction: Reinforced Concrete
Parking: 76 Surface Spaces a…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.6%
0.1%
8.9%Current Building 0.0%
Submarket 2-4 Star
Market Overall 6.0%
4.4%
Same Store Asking Rent/SF 2016 Q4 YOY
9.0%
8.3%
17.0%Current Building $0.55
Submarket 2-4 Star
Market Overall $0.62
$0.51
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
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Lease Comps Details3950-3970 Las Vegas Blvd
11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
RENTS
Asking Rent: $0.65/NNN
CONCESSIONS AND BUILDOUT
Buildout Status: Full Build-Out
PROPERTY EXPENSES
Taxes: $0.89/SF (2012)
Operating Exp.: $1.32/SF (2011)
LEASE
SF Leased: 4,684 SF
Sign Date: Oct 2016
Space Use: Industrial
Lease Type: Direct
Floor: 1st Floor
Suite: B10/20
LEASE TERM
Start Date: Nov 2016
TIME VACANT
Date Vacated: Sep 2016
Date Occupied: Nov 2016
Months Vacant: 2 Months
TIME ON MARKET
Date On Market: Sep 2016
Date Off Market: Oct 2016
Months on Market: 2 Months
LEASING REP
JLL
1980 Festival Plaza Dr, Suite 250
Las Vegas, NV 89135
Rob Lujan (702) 522-5002
Jason Simon (702) 522-5001
PROPERTY
Rentable Area: 57,017 SF
Stories: 1
Floor Size: 57,017 SF
Ceiling Height: 18'-24'
Vacancy at Lease: 8.5%
Land Acres: 7.50
Property Type: Industrial
Status: Built 2006
Tenancy: Multi
Class: B
Construction: Reinforced Concrete
Parking: 150 free Surface Sp…
MARKET AT LEASE
Vacancy Rates 2016 Q4 YOY
0.6%
0.1%
2.7%Current Building 8.5%
Submarket 2-4 Star
Market Overall 6.0%
4.4%
Same Store Asking Rent/SF 2016 Q4 YOY
9.0%
8.3%
23.2%Current Building $0.70
Submarket 2-4 Star
Market Overall $0.62
$0.51
Submarket Leasing Activity 2016 Q4 YOY
0.5
72.7%12 Mo. Leased SF 3,767,377
Months On Market 8.2
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3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Construction Comps
33,600 SF Industrial Warehouse
All-Time Annual Avg. SF
1,166,312Delivered SF Past 4 Qtrs
2,403,416Delivery SF Next 4 Qtrs
4,648,612Proposed SF Next 4 Qtrs
2,587,761PAST 4 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED
PAST & FUTURE DELIVERIES IN SQUARE FEET
Overall Construction Summary3950-3970 Las Vegas Blvd
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Page 97
ConstructionLas Vegas Industrial
The development tides have shifted in Las Vegas, withover 7 million SF delivered in 2017, 95% of which waslogistics space. This new supply accounted for nearly 6%of the entire Las Vegas logistics inventory—a sizableaddition for one calendar year. This is more than doublethe 3.2 million SF delivered in 2016, and the metro’sannual historical average is approximately 3 million SF.An additional 5,144,649 SF is under construction (thevast majority logistics), a sign that developers may bebullish on the Las Vegas market because of the solidabsorption of the past four years.
Several sizable buildings have started constructionrecently. Currently under way by developer Prologis area 632,000-SF logistics building and 525,000-SFdistribution center for Bed Bath & Beyond, both in theSpeedway Submarket. In the North Las VegasSubmarket, SunCap Property Group broke groundrecently on three warehouse buildings in the SunPointCrossing development. The 290,000-SF, 255,000-SFand 208,000-SF buildings are expected for delivery inearly 2019.
DELIVERIES & DEMOLITIONS
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ConstructionNorth Las Vegas Industrial
DELIVERIES & DEMOLITIONS
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ConstructionNorth Las Vegas Industrial
All-Time Annual Avg. SF
629,448Delivered SF Past 4 Qtrs
2,403,416Delivered SF Next 4 Qtrs
2,473,463Proposed SF Next 4 Qtrs
1,055,031PAST 4 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED
PAST & FUTURE DELIVERIES IN SQUARE FEET
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ConstructionNorth Las Vegas Industrial
RECENT DELIVERIES
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner
Dec-20174640 Nexus Way
Building # 4215,804 1 Jul-2018
VanTrust Real Estate LLC
-1
Dec-20174305 N Lamb Blvd
Lamb Industrial Park122,291 1 Jun-2018
Viawest Group
-2
Sep-20174325 Corporate Center Dr
Matter @ Craig155,790 1 May-2018
Matter Real Estate Group
Christie Lites Chicago3
May-20174265 Corporate Center Dr
Prologis Corporate Cent…131,750 1 Apr-2018
Prologis
Prologis4
Mar-20173910 Alto Ave
DHL Supply Chain338,520 - Mar-2018
Scannell Development Company
Clarion Partners5
Jun-20175430 Donovan Way
5430 Donovan Way - Bld…731,561 1 Feb-2018
VanTrust Real Estate LLC
Global Logistic Properties6
Jul-20174050 Corporate Center Dr
Prologis Corporate Cent…130,515 1 Feb-2018
TWC Construction
Prologis7
May-20162855 E Lone Mountain Rd
Phase II247,126 1 Dec-2017
The Pauls Corporation
-8
Apr-20165840 Donovan Way
Northgate Distribution C…191,026 1 Oct-2017
VanTrust Real Estate LLC
Global Logistic Properties Ltd9
Oct-2016Corporate Center Dr & Civ
Prologis Corporate Cent…100,633 1 Oct-2017
-
-10
Jun-20172855 E Lone Mountain Rd
38,400 1 Oct-2017-
-11
Apr-20173515 N Las Vegas Blvd
LogistiCenter at Las Veg…546,480 1 Sep-2017
United Construction Company
Dermody Properties, Inc.12
Nov-20164550 Nexus Way
Amazon813,120 1 Sep-2017
VanTrust Real Estate LLC
Global Logistic Properties Ltd13
May-20165550 Donovan Way
The Honest Co570,810 - Aug-2017
VanTrust Real Estate LLC
Global Logistic Properties Ltd14
Jun-20164490 Nexus Way
Northgate Distribution C…558,000 1 Jul-2017
VanTrust Real Estate LLC
Global Logistic Properties Ltd15
UNDER CONSTRUCTION
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner
Jul-20185265 N Sloan Ln
Bldg 3632,324 1 Mar-2019
Prologis
Prologis1
May-20185835 E Ann Rd
Bed Bath & Beyond Distr…525,200 - May-2019
Prologis
Prologis2
Jul-20185245 N Sloan Ln
Bldg 4376,264 1 Mar-2019
-
Prologis3
Jul-2018N Las Vegas Blvd. & Lam…
Building 2290,203 1 Jan-2019
-
-4
Jul-2018N Las Vegas Blvd. & Lam…
Building 3254,592 1 Jan-2019
-
-5
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Page 101
ConstructionNorth Las Vegas Industrial
UNDER CONSTRUCTION
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner
Jul-2018N Las Vegas Blvd. & Lam…
Building 1207,739 1 Jan-2019
SunCap Property Group
SunCap Property Group6
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…39,395 1 Oct-2018
LaPour Partners
-7
Jun-20184456 E Craig Rd
Copper Sage Commerce…39,180 1 Dec-2018
TWC Construction
-8
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…32,535 1 Oct-2018
LaPour Partners
-9
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…27,280 1 Oct-2018
-
-10
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…22,240 1 Oct-2018
-
-11
May-20184615 Industry Center Dr
5,557 SF Bldg w/ Enclos…16,034 1 Nov-2018
-
-12
May-20184609 Industry Center Dr
10,477 SF Freestanding…10,477 1 Oct-2018
-
-13
PROPOSED
Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner
Sep-20186200 Range Rd
Interchange Distribution…423,280 1 Sep-2019
-
-1
Sep-2018Donovan Way & Tropical…
196,300 - Jul-2019-
-2
Sep-20182900 Clayton St
162,760 1 Sep-2019-
-3
Sep-20184300 N Lamb Blvd
122,291 1 Mar-2019-
-4
Sep-20182617 N Lamb Blvd
78,400 1 May-2019-
-5
Sep-20185000 Losee Rd
72,000 1 Mar-2019Tiberti Management Company
J. A. Tiberti Constr. Co.6
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UNDER CONSTRUCTION IN SQUARE FEET
PROJECTED DELIVERIES IN SQUARE FEET
5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd
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5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd
DELIVERIES IN SQUARE FEET
STARTS IN SQUARE FEET
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5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd
PERCENT OCCUPIED AT DELIVERY
DELIVERIES AND OCCUPANCY IN SQUARE FEET
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5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd
NEW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR BUILT
NET ABSORPTION IN SQUARE FEET
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5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd
ASKING RENT PER SQUARE FOOT
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Page 107
Properties
17Square Feet
4,648,612Percent of Inventory
11.7%Preleased
46.7%UNDER CONSTRUCTION PROPERTIES
UNDER CONSTRUCTION SUMMARY STATISTICS
Low Average Median High
Building SF 10,477 273,448 213,785 855,000
Ceiling Height 20' 29'4" 32' 36'
Docks 3 32 28 98
Preleasing 0% 46.7% 0% 100%
Estimated Delivery Date October 2018 January 2019 January 2019 August 2019
Months to Delivery 1 4 4 11
Construction Period in Months 5 8 8 13
Star Rating 3.9
Under Construction Summary3950-3970 Las Vegas Blvd
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Under Construction Summary3950-3970 Las Vegas Blvd
COMPLETIONS WITHIN NEXT 3 MONTHS
Property Name/Address Rating Bldg SF Ceiling Ht Start Complete Developer/Owner
Jan-20186335 N Hollywood Blvd
Bldg A390,904 32' Oct-2018
Harsch Investment Properties
-1
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…39,395 24' Oct-2018
LaPour Partners
-2
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…32,535 24' Oct-2018
LaPour Partners
-3
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…27,280 24' Oct-2018
-
-4
Jan-2018E Craig Rd
Craig @ Walnut - Buildin…22,240 24' Oct-2018
-
-5
May-20184609 Industry Center Dr
10,477 SF Freestanding…10,477 20' Oct-2018
-
-6
May-20184615 Industry Center Dr
5,557 SF Bldg w/ Enclos…16,034 20' Nov-2018
-
-7
Jun-20184456 E Craig Rd
Copper Sage Commerce…39,180 28' Dec-2018
TWC Construction
-8
COMPLETIONS 3-6 MONTHS AWAY
Property Name/Address Rating Bldg SF Ceiling Ht Start Complete Developer/Owner
Jul-2018N Las Vegas Blvd. & Lam…
Building 2290,203 32' Jan-2019
-
-9
Jul-2018N Las Vegas Blvd. & Lam…
Building 3254,592 32' Jan-2019
-
-10
Jun-20186405 E Centennial Pky
Centennial Commerce C…213,785 32' Jan-2019
Panatoni Company
-11
Jul-2018N Las Vegas Blvd. & Lam…
Building 1207,739 32' Jan-2019
SunCap Property Group
SunCap Property Group12
Jul-20185265 N Sloan Ln
Bldg 3632,324 36' Mar-2019
Prologis
Prologis13
Jul-20185245 N Sloan Ln
Bldg 4376,264 36' Mar-2019
-
Prologis14
COMPLETIONS MORE THAN 6 MONTHS AWAY
Property Name/Address Rating Bldg SF Ceiling Ht Start Complete Developer/Owner
May-20185835 E Ann Rd
Bed Bath & Beyond Distr…525,200 36' May-2019
Prologis
Prologis15
Jul-20186001 E Tropical Pky
Amazon855,000 32' Aug-2019
-
-16
Jul-2018NEC N Sloan Ln. & E Ann…
Sephora715,460 36' Aug-2019
-
-17
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Under Construction Property Details3950-3970 Las Vegas Blvd
1 6335 N Hollywood Blvd - Bldg ADistance to Subject Property: 3.8 Miles
AVAILABILITY
Percent Leased: 19.1%
Available SF: 316,389
Asking Rent: $0.48
PROPERTY
Type: Class A Industrial
Year Built: 2018
RBA: 390,904 SF
Ceiling Height: 32'
Docks: 62 ext
Power: 7,000a/277-480v 3p Heavy
Cranes: -
Rail Served: -
Parking Spaces: 368: 0.94/1,000 SF
CONSTRUCTION
Start Date: Jan-2018
Completion Date: Oct-2018
Build Time: 9 Months
Time To Delivery: 1 Month
CONTACTS
Developer: Harsch Investment Prop…
Owner: -
2 E Craig Rd @ Walnut Rd - Craig @ Walnut - Building #1Distance to Subject Property: 1.2 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 39,395
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: 2018
RBA: 39,395 SF
Ceiling Height: 24'
Docks: 6 ext
Power: 800a Heavy
Cranes: -
Rail Served: None
Parking Spaces: 56: 1.42/1,000 SF
CONSTRUCTION
Start Date: Jan-2018
Completion Date: Oct-2018
Build Time: 9 Months
Time To Delivery: 1 Month
CONTACTS
Developer: LaPour Partners
Owner: -
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Under Construction Property Details3950-3970 Las Vegas Blvd
3 E Craig Rd @ Walnut - Craig @ Walnut - Building #4Distance to Subject Property: 1.3 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 32,535
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: 2018
RBA: 32,535 SF
Ceiling Height: 24'
Docks: 4 ext
Power: 800a Heavy
Cranes: -
Rail Served: None
Parking Spaces: 39: 1.20/1,000 SF
CONSTRUCTION
Start Date: Jan-2018
Completion Date: Oct-2018
Build Time: 9 Months
Time To Delivery: 1 Month
CONTACTS
Developer: LaPour Partners
Owner: -
4 E Craig Rd @ Walnut - Craig @ Walnut - Building #3Distance to Subject Property: 1.2 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 27,280
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: 2018
RBA: 27,280 SF
Ceiling Height: 24'
Docks: 4 ext
Power: 600a
Cranes: -
Rail Served: None
Parking Spaces: 32: 1.17/1,000 SF
CONSTRUCTION
Start Date: Jan-2018
Completion Date: Oct-2018
Build Time: 9 Months
Time To Delivery: 1 Month
CONTACTS
Developer: -
Owner: -
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Page 111
Under Construction Property Details3950-3970 Las Vegas Blvd
5 E Craig Rd @ Walnut - Craig @ Walnut - Building #2Distance to Subject Property: 1.2 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 22,240
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: 2018
RBA: 22,240 SF
Ceiling Height: 24'
Docks: 4 ext
Power: 600a
Cranes: -
Rail Served: None
Parking Spaces: 28: 1.26/1,000 SF
CONSTRUCTION
Start Date: Jan-2018
Completion Date: Oct-2018
Build Time: 9 Months
Time To Delivery: 1 Month
CONTACTS
Developer: -
Owner: -
6 4609 Industry Center Dr - 10,477 SF Freestanding Bldg w/ Enclosed YardDistance to Subject Property: 1.0 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 10,477
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Oct 2018
RBA: 10,477 SF
Ceiling Height: 20'
Docks: -
Power: 1,200a/120-208v 3p 4w H…
Cranes: -
Rail Served: None
Parking Spaces: 2.77/1,000 SF
CONSTRUCTION
Start Date: May-2018
Completion Date: Oct-2018
Build Time: 5 Months
Time To Delivery: 1 Month
CONTACTS
Developer: -
Owner: -
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Page 112
Under Construction Property Details3950-3970 Las Vegas Blvd
7 4615 Industry Center Dr - 5,557 SF Bldg w/ Enclosed YardDistance to Subject Property: 1.0 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 16,034
Asking Rent: $0.87
PROPERTY
Type: Class A Industrial
Year Built: Delivers Nov 2018
RBA: 16,034 SF
Ceiling Height: 20'
Docks: -
Power: 600a/120-208v 3p 4w
Cranes: -
Rail Served: Yes
Parking Spaces: 0.00/1,000 SF
CONSTRUCTION
Start Date: May-2018
Completion Date: Nov-2018
Build Time: 6 Months
Time To Delivery: 2 Months
CONTACTS
Developer: -
Owner: -
8 4456 E Craig Rd - Copper Sage Commerce Center WestDistance to Subject Property: 0.8 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 39,180
Asking Rent: $0.05
PROPERTY
Type: Class Industrial
Year Built: Delivers Dec 2018
RBA: 39,180 SF
Ceiling Height: 28'
Docks: 8 ext
Power: 800a/277-480v 3p 4w He…
Cranes: -
Rail Served: None
Parking Spaces: 69: 1.76/1,000 SF
CONSTRUCTION
Start Date: Jun-2018
Completion Date: Dec-2018
Build Time: 6 Months
Time To Delivery: 3 Months
CONTACTS
Developer: TWC Construction
Owner: -
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Page 113
Under Construction Property Details3950-3970 Las Vegas Blvd
9 N Las Vegas Blvd. & Lamb Blvd - Building 2Distance to Subject Property: 0.7 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 290,203
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Jan 2019
RBA: 290,203 SF
Ceiling Height: 32'
Docks: 3 ext
Power: -
Cranes: -
Rail Served: None
Parking Spaces: 0.97/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Jan-2019
Build Time: 6 Months
Time To Delivery: 4 Months
CONTACTS
Developer: -
Owner: -
10 N Las Vegas Blvd. & Lamb Blvd - Building 3Distance to Subject Property: 0.6 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 254,592
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Jan 2019
RBA: 254,592 SF
Ceiling Height: 32'
Docks: 57 ext
Power: -
Cranes: -
Rail Served: None
Parking Spaces: 0.50/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Jan-2019
Build Time: 6 Months
Time To Delivery: 4 Months
CONTACTS
Developer: -
Owner: -
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Page 114
Under Construction Property Details3950-3970 Las Vegas Blvd
11 6405 E Centennial Pky - Centennial Commerce CenterDistance to Subject Property: 3.6 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 213,785
Asking Rent: $0.49
PROPERTY
Type: Class A Industrial
Year Built: Delivers Jan 2019
RBA: 213,785 SF
Ceiling Height: 32'
Docks: 28 ext
Power: 2,000a/277-480v 3p 4w H…
Cranes: -
Rail Served: None
Parking Spaces: 172: 0.80/1,000 SF
CONSTRUCTION
Start Date: Jun-2018
Completion Date: Jan-2019
Build Time: 7 Months
Time To Delivery: 4 Months
CONTACTS
Developer: Panatoni Company
Owner: -
12 N Las Vegas Blvd. & Lamb Blvd - Building 1Distance to Subject Property: 0.8 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 207,739
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Jan 2019
RBA: 207,739 SF
Ceiling Height: 32'
Docks: 37 ext
Power: -
Cranes: -
Rail Served: None
Parking Spaces: 192: 0.92/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Jan-2019
Build Time: 6 Months
Time To Delivery: 4 Months
CONTACTS
Developer: SunCap Property Group
Owner: SunCap Property Group
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Page 115
Under Construction Property Details3950-3970 Las Vegas Blvd
13 5265 N Sloan Ln - Bldg 3Distance to Subject Property: 2.1 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 632,324
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Mar 2019
RBA: 632,324 SF
Ceiling Height: 36'
Docks: 98 ext
Power: 5,000a/277-480v 3p Heavy
Cranes: -
Rail Served: -
Parking Spaces: 0.00/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Mar-2019
Build Time: 8 Months
Time To Delivery: 6 Months
CONTACTS
Developer: Prologis
Owner: Prologis
14 5245 N Sloan Ln - Bldg 4Distance to Subject Property: 2.2 Miles
AVAILABILITY
Percent Leased: 0%
Available SF: 376,264
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Mar 2019
RBA: 376,264 SF
Ceiling Height: 36'
Docks: 49 ext
Power: 5,000a/277-480v 3p Heavy
Cranes: -
Rail Served: -
Parking Spaces: -
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Mar-2019
Build Time: 8 Months
Time To Delivery: 6 Months
CONTACTS
Developer: -
Owner: Prologis
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Page 116
Under Construction Property Details3950-3970 Las Vegas Blvd
15 5835 E Ann Rd - Bed Bath & Beyond Distribution CenterDistance to Subject Property: 2.4 Miles
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers May 2019
RBA: 525,200 SF
Ceiling Height: 36'
Docks: 60 ext
Power: 2,500-4,000a Heavy
Cranes: -
Rail Served: -
Parking Spaces: -
CONSTRUCTION
Start Date: May-2018
Completion Date: May-2019
Build Time: 12 Months
Time To Delivery: 8 Months
CONTACTS
Developer: Prologis
Owner: Prologis
Name SF Sign Date Expiration Date
KEY TENANTS
Bed Bath & Beyond 525,200 Jun-2016 -
16 6001 E Tropical Pky - AmazonDistance to Subject Property: 2.8 Miles
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Aug 2019
RBA: 855,000 SF
Ceiling Height: 32'
Docks: -
Power: 277-480v 3p
Cranes: -
Rail Served: -
Parking Spaces: 0.89/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Aug-2019
Build Time: 13 Months
Time To Delivery: 11 Months
CONTACTS
Developer: -
Owner: -
Name SF Sign Date Expiration Date
KEY TENANTS
Amazon 855,000 Jun-2018 Aug-2034
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Page 117
Under Construction Property Details3950-3970 Las Vegas Blvd
17 NEC N Sloan Ln. & E Ann Rd - SephoraDistance to Subject Property: 2.8 Miles
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Class A Industrial
Year Built: Delivers Aug 2019
RBA: 715,460 SF
Ceiling Height: 36'
Docks: -
Power: 277-480v 3p
Cranes: -
Rail Served: -
Parking Spaces: 0.55/1,000 SF
CONSTRUCTION
Start Date: Jul-2018
Completion Date: Aug-2019
Build Time: 13 Months
Time To Delivery: 11 Months
CONTACTS
Developer: -
Owner: -
Name SF Sign Date Expiration Date
KEY TENANTS
Sephora 715,460 Jun-2018 Aug-2031
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Page 118
Properties
15Square Feet
4,891,826Percent Leased
73.5%Asking Rent
$0.42COMPLETED CONSTRUCTION PAST 12 MONTHS
CONSTRUCTION SUMMARY STATISTICS
Low Average Median High
RBA 38,400 326,122 215,804 813,120
Ceiling Height 28' 32'9" 32' 36'
Docks 7 52 39 124
Leases Signed 0 1 1 3
Percent Leased 0% 73.5% 100% 100%
Asking Rent $0.39 $0.42 $0.43 $0.53
Star Rating 4.1
Completed Construction Past 12 Months3950-3970 Las Vegas Blvd
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Page 119
Completed Construction Past 12 Months3950-3970 Las Vegas Blvd
Property Name/Address Rating RBA Ceiling Ht Complete Leased Developer/Owner
Jul-20184640 Nexus Way
Building # 4215,804 32' 0%
VanTrust Real Estate LLC
-1
Jun-20184305 N Lamb Blvd
Lamb Industrial Park122,291 28' 33.4%
Viawest Group
-2
May-20184325 Corporate Center Dr
Matter @ Craig155,790 30' 100%
Matter Real Estate Group
Christie Lites Chicago3
Apr-20184265 Corporate Center Dr
Prologis Corporate Cent…131,750 32' 100%
Prologis
Prologis4
Mar-20183910 Alto Ave
DHL Supply Chain338,520 32' 100%
Scannell Development Company
Clarion Partners5
Feb-20185430 Donovan Way
5430 Donovan Way - Bld…731,561 36' 0%
VanTrust Real Estate LLC
Global Logistic Properties6
Feb-20184050 Corporate Center Dr
Prologis Corporate Cent…130,515 32' 41.0%
TWC Construction
Prologis7
Dec-20172855 E Lone Mountain Rd
Phase II247,126 32' 100%
The Pauls Corporation
-8
Oct-20175840 Donovan Way
Northgate Distribution C…191,026 32' 0%
VanTrust Real Estate LLC
Global Logistic Properties Ltd9
Oct-2017Corporate Center Dr & Civ
Prologis Corporate Cent…100,633 32' 100%
-
-10
Oct-20172855 E Lone Mountain Rd
38,400 - 100%-
-11
Sep-20173515 N Las Vegas Blvd
LogistiCenter at Las Veg…546,480 36' 100%
United Construction Company
Dermody Properties, Inc.12
Sep-20174550 Nexus Way
Amazon813,120 - 100%
VanTrust Real Estate LLC
Global Logistic Properties Ltd13
Aug-20175550 Donovan Way
The Honest Co570,810 36' 100%
VanTrust Real Estate LLC
Global Logistic Properties Ltd14
Jul-20174490 Nexus Way
Northgate Distribution C…558,000 36' 100%
VanTrust Real Estate LLC
Global Logistic Properties Ltd15
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Page 120
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
1 4640 Nexus Way - Building # 4Las Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 0%
Available SF: 215,804
Asking Rent: -
PROPERTY
Type: Industrial Distributi…
Yr Blt/Renov: 2018
Property Size: 215,804 SF
Ceiling Height: 32'
Docks: 48 ext
Power: 277a/480v 3p
Parking Spaces: 0.00/1,000 SF
Distance To Subj… 2.5 Miles
-CONSTRUCTION
Start Date: Dec-2017
Completion Date: Jul-2018
Build Time: 7 Months
Time Since Delivery: 2 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Rent
Space Type
Floor Use
Square Feet
Type SF AvailOccupancySuite Listing CompanyBldg Contig
CBREWithheld215,80450,000 - 215,804NewIndustrialE 1st - Vacant
All Spaces 215,804 215,804 -
-
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Page 121
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
2 4305 N Lamb Blvd - Lamb Industrial ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 33.4%
Available SF: 81,459
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2018
Property Size: 122,291 SF
Ceiling Height: 28'
Docks: 7 ext
Power: 277-480v 3p
Distance To Subj… 0.9 Miles
-CONSTRUCTION
Start Date: Dec-2017
Completion Date: Jun-2018
Build Time: 6 Months
Time Since Delivery: 3 MonthsDEVELOPER
Viawest Group
-
AVAILABLE SPACES
Rent
Space Type
Floor Use
Square Feet
Type SF AvailOccupancySuite Listing CompanyBldg Contig
CBREWithheld10,29210,292NewIndustrialP 1st 200 Vacant
CBREWithheld19,51110,292NewIndustrialP 1st 400 Vacant
CBREWithheld19,5119,219NewIndustrialP 1st 500 Vacant
CBREWithheld51,65615,303NewIndustrialP 1st 700 Vacant
CBREWithheld51,65615,303NewIndustrialP 1st 800 Vacant
CBREWithheld51,65621,050NewIndustrialP 1st 900 Vacant
All Spaces 81,459 51,656 -
-
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Page 122
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
3 4325 Corporate Center Dr - Matter @ CraigNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: $0.53
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2018
Property Size: 155,790 SF
Ceiling Height: 30'
Docks: 32 ext
Power: 3,000a/277-480v 3p…
Parking Spaces: 212: 1.36/1,000 SF
Distance To Subj… 1.9 Miles
OWNER
Christie Lites Chicago
CONSTRUCTION
Start Date: Sep-2017
Completion Date: May-2018
Build Time: 8 Months
Time Since Delivery: 4 Months
DEVELOPER
Matter Real Estate Group
-
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 123
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
4 4265 Corporate Center Dr - Prologis Corporate Center-Bldg 14North Las Vegas, NV 89030 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2018
Property Size: 131,750 SF
Ceiling Height: 32'
Docks: 23 ext
Power: 2,500a Heavy
Distance To Subj… 1.9 Miles
OWNER
Prologis
CONSTRUCTION
Start Date: May-2017
Completion Date: Apr-2018
Build Time: 11 Months
Time Since Delivery: 5 MonthsDEVELOPER
Prologis
-
AVAILABLE SPACES
Currently No Available Spaces
-
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 124
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
5 3910 Alto Ave - DHL Supply ChainLas Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: $0.38
PROPERTY
Type: Industrial Distributi…
Tenancy: Single-Tenant
Yr Blt/Renov: 2018
Property Size: 338,520 SF
Ceiling Height: 32'
Docks: 76 ext
Power: 3,000a/277-480v 3p…
Parking Spaces: 390: 1.15/1,000 SF
Distance To Subj… 1.8 Miles
OWNER
Clarion Partners
CONSTRUCTION
Start Date: Mar-2017
Completion Date: Mar-2018
Build Time: 12 Months
Time Since Delivery: 6 Months
DEVELOPER
Scannell Development Company
AMENITIES
Skylights
AVAILABLE SPACES
Currently No Available Spaces
-
9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -
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Page 125
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
6 5430 Donovan Way - 5430 Donovan Way - Bldg. 9North Las Vegas, NV 89081 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 0%
Available SF: 731,561
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2018
Property Size: 731,561 SF
Ceiling Height: 36'
Docks: 124 ext
Power: 277-480v 3p Heavy
Parking Spaces: 493: 0.67/1,000 SF
Distance To Subj… 2.1 Miles
OWNER
Global Logistic Properties
CONSTRUCTION
Start Date: Jun-2017
Completion Date: Feb-2018
Build Time: 8 Months
Time Since Delivery: 7 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Rent
Space Type
Floor Use
Square Feet
Type SF AvailOccupancySuite Listing CompanyBldg Contig
CBREWithheld731,561250,968 - 731,561NewIndustrialE 1st Bldg. 9 Vacant
All Spaces 731,561 731,561 -
-
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Page 126
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
7 4050 Corporate Center Dr - Prologis Corporate Center-Bldg 9North Las Vegas, NV 89030 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 41.0%
Available SF: 77,030
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2018
Property Size: 130,515 SF
Ceiling Height: 32'
Docks: 30 ext
Power: 2,500a Heavy
Distance To Subj… 2.1 Miles
OWNER
Prologis
CONSTRUCTION
Start Date: Jul-2017
Completion Date: Feb-2018
Build Time: 7 Months
Time Since Delivery: 7 MonthsDEVELOPER
TWC Construction
-
AVAILABLE SPACES
Rent
Space Type
Floor Use
Square Feet
Type SF AvailOccupancySuite Listing CompanyBldg Contig
CBREWithheld77,03042,935NewIndustrialP 1st A-1 Vacant
CBREWithheld77,03034,095NewIndustrialP 1st A Vacant
All Spaces 77,030 77,030 -
NOTES
Prologis Corporate Center is a 4 building industrial project totaling ±523,370 SF. The 2nd phase of the project, which is expected to be completed inQ1 2018, will include a 130,515 SF front loading building and a 131,750 SF front loading building. The LEED Certified buildings will be divisible to30,930 SF and will include dock & ramp to grade loading, 32 min clear height, R-19 roof batt insulation, 6" slab & ESFR sprinkler system.
The project is located less than 1/2 mile to I-15 via Craig Rd. and with over 2,200 LINEAR FEET OF I-15 FRONTAGE, the project providesunsurpassed VISIBILITY, EXPOSURE and ACCESS for future tenants.
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Page 127
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
8 2855 E Lone Mountain Rd - Phase IINorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: $0.45
PROPERTY
Type: Industrial Warehouse
Tenancy: Multi-Tenant
Yr Blt/Renov: 2017
Property Size: 247,126 SF
Ceiling Height: 32'
Docks: 64 ext
Power: 2,500a/277-480v 3p…
Parking Spaces: 279: 1.14/1,000 SF
Distance To Subj… 2.5 Miles
-CONSTRUCTION
Start Date: May-2016
Completion Date: Dec-2017
Build Time: 19 Months
Time Since Delivery: 9 Months
DEVELOPER
The Pauls Corporation
AMENITIES
Skylights
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 128
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
9 5840 Donovan Way - Northgate Distribution Center Bldg 5Las Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 0%
Available SF: 191,026
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Tenancy: Multi-Tenant
Yr Blt/Renov: 2017
Property Size: 191,026 SF
Ceiling Height: 32'
Docks: 39 ext
Power: 277-480v 3p
Rail Served: None
Parking Spaces: 0.00/1,000 SF
Distance To Subj… 2.3 Miles
OWNER
Global Logistic Properties Ltd
CONSTRUCTION
Start Date: Apr-2016
Completion Date: Oct-2017
Build Time: 18 Months
Time Since Delivery: 11 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Rent
Space Type
Floor Use
Square Feet
Type SF AvailOccupancySuite Listing CompanyBldg Contig
CBREWithheld191,02695,000 - 191,026NewIndustrialE 1st - Vacant
All Spaces 191,026 191,026 -
NOTES
Northgate Distribution Center Buildings has entire buildings available from ±87,007 or ±731,561 SF with divisibility to ±53,352 SF. The buildings areeither cross dock or rear loading configured. Office space is BTS. The warehouse features 32' - 36' minimum clear height, ESFR sprinkler system,and 2% skylights. Abundant trailer parking is available along with monument signage. Build to suit options are available for future phases.
Northgate Distribution Center has immediate access to I-15 via Lamb Blvd. Interchange with building signage with I-15 frontage. The project is locatedin the City of North Las Vegas jurisdiction.
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Page 129
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
10 Corporate Center Dr & Civic Center Dr - Prologis Corporate Center-Bldg 13North Las Vegas, NV 89030 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2017
Property Size: 100,633 SF
Ceiling Height: 32'
Docks: 21 ext
Power: 1,600-4,000a Heavy
Distance To Subj… 2.1 Miles
-CONSTRUCTION
Start Date: Oct-2016
Completion Date: Oct-2017
Build Time: 12 Months
Time Since Delivery: 11 Months
-
AMENITIES
Skylights
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 130
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
11 2855 E Lone Mountain RdNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Yr Blt/Renov: 2017
Property Size: 38,400 SF
Distance To Subj… 2.6 Miles
-CONSTRUCTION
Start Date: Jun-2017
Completion Date: Oct-2017
Build Time: 4 Months
Time Since Delivery: 11 Months
-
-
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 131
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
12 3515 N Las Vegas Blvd - LogistiCenter at Las Vegas BoulevardLas Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: $0.41
PROPERTY
Type: Industrial Distributi…
Tenancy: Multi-Tenant
Yr Blt/Renov: 2017
Property Size: 546,480 SF
Ceiling Height: 36'
Docks: 103 ext
Power: 4,000a/277-480v 3p…
Parking Spaces: 343: 0.60/1,000 SF
Distance To Subj… 1.3 Miles
OWNER
Dermody Properties, Inc.
CONSTRUCTION
Start Date: Apr-2017
Completion Date: Sep-2017
Build Time: 5 Months
Time Since Delivery: 12 Months
DEVELOPER
United Construction Company
AMENITIES
T5 Lighting
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 132
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
13 4550 Nexus Way - AmazonNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Distributi…
Tenancy: Single-Tenant
Yr Blt/Renov: 2017
Property Size: 813,120 SF
Distance To Subj… 2.5 Miles
OWNER
Global Logistic Properties Ltd
CONSTRUCTION
Start Date: Nov-2016
Completion Date: Sep-2017
Build Time: 10 Months
Time Since Delivery: 12 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 133
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
14 5550 Donovan Way - The Honest CoLas Vegas, NV 89101 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Tenancy: Single-Tenant
Yr Blt/Renov: 2017
Property Size: 570,810 SF
Ceiling Height: 36'
Docks: 98 ext
Power: 4,000a/277-480v 3p…
Parking Spaces: 466: 0.81/1,000 SF
Distance To Subj… 2.1 Miles
OWNER
Global Logistic Properties Ltd
CONSTRUCTION
Start Date: May-2016
Completion Date: Aug-2017
Build Time: 15 Months
Time Since Delivery: 13 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 134
Deliveries Past 12 Months3950-3970 Las Vegas Blvd
15 4490 Nexus Way - Northgate Distribution Center Bldg 2Las Vegas, NV 89115 - North Las Vegas Ind Submarket
AVAILABILITY
Percent Leased: 100%
Available SF: -
Asking Rent: -
PROPERTY
Type: Industrial Warehouse
Tenancy: Multi-Tenant
Yr Blt/Renov: 2017
Property Size: 558,000 SF
Ceiling Height: 36'
Docks: 9 ext
Power: 4,000a/277-480v 3p…
Rail Served: None
Parking Spaces: 102: 0.18/1,000 SF
Distance To Subj… 2.3 Miles
OWNER
Global Logistic Properties Ltd
CONSTRUCTION
Start Date: Jun-2016
Completion Date: Jul-2017
Build Time: 13 Months
Time Since Delivery: 14 Months
DEVELOPER
VanTrust Real Estate LLC
-
AVAILABLE SPACES
Currently No Available Spaces
-
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Page 135
3950-3970 Las Vegas Blvd
PREPARED BY
Casey Whiting
Broker, Property Mgr.
Sale Comps
33,600 SF Industrial Warehouse
Sale Comps3950-3970 Las Vegas Blvd
Sale Comparables
17Avg. Cap Rate
7.5%Avg. Price/SF
$114Avg. Vacancy At Sale
7.2%SALE COMPARABLE LOCATIONS
SALE COMPARABLES SUMMARY STATISTICS
Sales Attributes Low Average Median High
Sale Price $1,668,400 $3,376,967 $2,900,000 $7,000,000
Price Per SF $61 $114 $117 $203
Cap Rate 6.5% 7.5% 7.5% 8.4%
Time Since Sale in Months 0.6 11.5 12.8 22.7
Property Attributes Low Average Median High
Building SF 17,240 29,735 22,750 58,162
Ceiling Height 10' 21'8" 24' 30'
Docks 0 4 3 12
Vacancy Rate At Sale 0% 7.2% 0% 100%
Year Built 1972 1996 1996 2009
Star Rating 2.2
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Page 137
Sale Comps3950-3970 Las Vegas Blvd
Property Name - Address Rating Yr Built Bldg SF Vacancy Price Price/SF
Property
Sale Date
Sale
Cap Rate
-1 5421-5441 E Cheyenne Ave1984 31,800 0% $1,924,230 $618/23/2018 -
-2 3890 E Craig Rd1972 19,602 0% $2,450,000 $1257/13/2018 -
-3 3870 Losee Rd1989 50,200 0% $5,000,000 $1007/3/2018 -
-4 4620 Eaker St1996 58,162 0% $7,000,000 $1205/23/2018 -
-5 Building 42006 19,885 0% $2,700,000 $136
2955 Lincoln Rd2/16/2018 -
-5 Building 42006 19,885 0% $2,100,000 $106
2955 Lincoln Rd1/31/2018 -
-6 3828 Civic Center Dr2009 39,348 0% $4,775,000 $1211/3/2018 -
-7 Bldg D2008 22,750 0% $2,661,750 $117
4620 Calimesa St9/22/2017 -
-8 Bldg B22008 19,125 0% $2,237,625 $117
4480 Calimesa St8/18/2017 -
-9 Bldg-62006 28,427 0% $3,500,000 $123
3835 N Pecos Rd8/4/2017 6.5%
-10 Palm Street Building1987 36,538 100% $3,300,000 $90
1955 Palm St6/2/2017 -
-11 Bldg-32006 17,240 0% $1,950,000 $113
3935 N Pecos Rd5/9/2017 -
-12 Coastline Equipment1992 20,225 0% $2,900,000 $143
3540 N 5th St4/26/2017 -
-13 Flowers Foods1982 18,722 0% $1,668,400 $89
3348 Losee Rd3/31/2017 8.4%
-14 500 E Cheyenne Ave1980 22,124 0% $4,500,000 $2032/10/2017 -
-15 4120 Donovan Way1995 32,388 0% $4,741,429 $1461/31/2017 -
-16 Bldg-22007 49,070 0% $4,000,000 $82
2855 Coleman St10/20/2016 -
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Page 138
Sale Comps3950-3970 Las Vegas Blvd
SALES VOLUME & MARKET SALE PRICE PER SF
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Page 139
Sale Comps3950-3970 Las Vegas Blvd
LAS VEGAS INVESTMENT TRENDS
Investment volume had been muted since the recession,but activity has picked back up recently, with transactionsin 2018 off to a solid start. Sales volume totaled just over$700 million in 2017, up from around $510 million in2016 and significantly higher than the metro’s historicalaverage of about $440 million.
In March 2018, the Phase I and II buildings in the LoneMountain Corporate Center were purchased by ClarionPartners for a combined $67 million ($96/SF). Thebuildings were sold by Pauls Real Estate Investments aspart of a 26-property portfolio. Two industrial buildings inthe Northgate Distribution Center were purchased byGlobal Logistic Properties Ltd. for a combined $55.4million ($74/SF) from developer VanTrust Real Estate inApril. Both properties were constructed in 2017, and atthe time of closing, the 558,000-SF building wasapproximately 85% leased, and the 191,000-SF buildingwas vacant. More recently, in May, a distribution buildingfully occupied by logistics firm DHL Supply Chain tradedfor $35.76 million, around $105/SF. The single-tenant,338,500-SF building was completed in the first quarterof 2018 and sold by developer Scannell Properties.
Singapore-based Global Logistic Properties Ltd. (GLP)has made several acquisitions in the Las Vegas marketrecently. In December 2017, GLP purchased the two-property Northgate Distribution Center portfolio for$124.8 million ($90/SF), which provided a significantboost to year-end sales volume in 2017. GLP acquiredthe approximately 1.4-million-SF portfolio fromdeveloper VanTrust Real Estate. Included in the tradewere the 813,000-SF Amazon distribution building andthe 570,000-SF Honest Co. warehouse building. In June2018, GLP purchased three more properties fromVanTrust Real Estate in the Northgate DistributionCenter. A two building portfolio was acquired for $55.4million ($74/SF), and included 4490 Nexus Way, is a558,000-SF warehouse building that was approximately85% occupied at the time of sale, and 5840 DonovanWay is a 95,000-SF warehouse building that wascompletely available at the time of sale. Both propertieswere completed in 2017. Later in the month, anotherwarehouse property of 731,500 SF was purchased for$51.9 million ($71/ SF). The building was recentlydelivered in February and was 100% available.
SALES VOLUME & MARKET SALE PRICE PER SF
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Sale Comps Details3950-3970 Las Vegas Blvd
1 5421-5441 E Cheyenne AveDistance to Subject Property: 1.3 Miles
SALE
Sale Date: 8/23/2018
Sale Price: $1,924,230
Price/SF: $61
PROPERTY
Type: Manufacturing
Year Built/Re… 1984
RBA: 31,800 SF
Ceiling Height: 14'
Docks: 3 ext
Power: 880a 3p Heavy
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 46 free Surface Spaces…
-
CONTACTS
Seller: 5421 East Llc
2 3890 E Craig RdDistance to Subject Property: 1.4 Miles
SALE
Sale Type: Owner/User
Sale Date: 7/13/2018
Time On Mar… 70 Days
Sale Price: $2,450,000
Price/SF: $125
PROPERTY
Type: Warehouse
Year Built/Re… 1972
RBA: 19,602 SF
Ceiling Height: 20'
Docks: 7 ext
Power: 800a/277-480v 3p 4w He…
Vacancy At S… 0%
Cranes: None
Rail Served: Yes
Parking: 16 free Surface Spaces…
SALE TERMS
Financing: 1st Mortgage: Nevad…
CONTACTS
Buyer: A2 Realty Group Llc
Seller: John Wallace
Buyer Broker: RealComm Advisors -…
Listing Broker: RealComm Advisors -…
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Page 141
Sale Comps Details3950-3970 Las Vegas Blvd
3 3870 Losee RdDistance to Subject Property: 2.7 Miles
SALE
Sale Type: Owner/User
Sale Date: 7/3/2018
Sale Price: $5,000,000
Price/SF: $100
PROPERTY
Type: Distribution
Year Built/Re… 1989
RBA: 50,200 SF
Docks: None
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 25 free Surface Spaces…
SALE TERMS
Financing: 1st Mortgage: Nevad…
CONTACTS
Buyer: SA Recycling LLC
Seller: Friedman Properties Ltd
4 4620 Eaker StDistance to Subject Property: 1.2 Miles
SALE
Sale Type: Owner/User
Sale Date: 5/23/2018
Time On Mar… 1 Yr 4 Mos
Sale Price: $7,000,000
Price/SF: $120
PROPERTY
Type: Manufacturing
Year Built/Re… 1996; Renov 2016
RBA: 58,162 SF
Ceiling Height: 18'-22'
Docks: None
Power: 1,200a 3p Heavy
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 31 free Surface Spaces…
SALE TERMS
Financing: 1st Mortgage: Nevad…
CONTACTS
Seller: Remington Nevada
Buyer Broker: Diversified Realty Grou…
Listing Broker: CBRE - Donna Alderso…
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Page 142
Sale Comps Details3950-3970 Las Vegas Blvd
5 2955 Lincoln Rd - Building 4Distance to Subject Property: 1.6 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 2006
RBA: 19,885 SF
Ceiling Height: 22'-26'
Docks: 3 ext
Power: 400a/277-480v 3p 3w
Vacancy At S… 0%
Parking: 10 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 2/16/2018
Sale Price: $2,700,000
Price/SF: $136
CONTACTS
Buyer: Wang Global Net
Seller: WCIG LLC
Buyer Broker: NAI Vegas - Phillip Keuch
Listing Broker: NAI Vegas - Phillip Keuch
SALE TERMS
Financing: 1st Mortgage: Nevad…
5 2955 Lincoln Rd - Building 4Distance to Subject Property: 1.6 Miles
SALE
Sale Type: Owner/User
Sale Date: 1/31/2018
Time On Mar… 75 Days
Sale Price: $2,100,000
Price/SF: $106
PROPERTY
Type: Warehouse
Year Built/Re… 2006
RBA: 19,885 SF
Ceiling Height: 22'-26'
Docks: 3 ext
Power: 400a/277-480v 3p 3w
Vacancy At S… 0%
Parking: 10 free Surface Spaces…SALE TERMS
Financing: 1st Mortgage: Nevad…
CONTACTS
Buyer: Jean Philippe Merminod
Seller: James I Kozen Family T…
Listing Broker: NAI Vegas - Eric Larkin,…
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Page 143
Sale Comps Details3950-3970 Las Vegas Blvd
6 3828 Civic Center DrDistance to Subject Property: 2.3 Miles
SALE
Sale Type: Owner/User
Sale Date: 1/3/2018
Time On Mar… 177 Days
Sale Price: $4,775,000
Price/SF: $121
PROPERTY
Type: Warehouse
Year Built/Re… 2009
RBA: 39,348 SF
Ceiling Height: 24'
Docks: 12 ext
Power: 1,200a/277-480v 3p Heavy
Vacancy At S… 0%
Rail Served: None
Parking: 59 Surface Spaces are…
SALE TERMS
Financing: Unknown: Umpqua…
CONTACTS
Buyer: Steve W Lim
Seller: Robert & Amy Robinson
Buyer Broker: Elite Realty - Bob Darling
Listing Broker: MDL Group - Galit Kime…
7 4620 Calimesa St - Bldg DDistance to Subject Property: 0.9 Miles
SALE
Sale Type: Owner/User
Sale Date: 9/22/2017
Time On Mar… 138 Days
Sale Price: $2,661,750
Price/SF: $117
PROPERTY
Type: Distribution
Year Built/Re… 2008
RBA: 22,750 SF
Ceiling Height: 24'-28'
Docks: 3 ext
Power: 277a/480v 3p
Vacancy At S… 0%
Rail Served: None
Parking: 52 free Surface Spaces…
SALE TERMS
Sale Conditio… Purchase By Tenant
Financing: 1st Mortgage Bal/P…
CONTACTS
Buyer: Aerosprays, Inc
Seller: JP DiNapoli Companies…
Buyer Broker: Colliers International -…
Listing Broker: Colliers International -…
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Page 144
Sale Comps Details3950-3970 Las Vegas Blvd
8 4480 Calimesa St - Bldg B2Distance to Subject Property: 0.7 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 2008
RBA: 19,125 SF
Ceiling Height: 24'
Docks: 2 ext
Power: 600a
Vacancy At S… 0%
Parking: 22 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 8/18/2017
Time On Mar… 103 Days
Sale Price: $2,237,625
Price/SF: $117
CONTACTS
Buyer: Shaul Dadon
Seller: DiNapoli Family, LP
Buyer Broker: CBRE - Sean Zaher
Listing Broker: Colliers International -…
SALE TERMS
Financing: Unknown: Western…
TRANSACTION NOTES
The property was purchased as an owner/user and relocation. The buyer will be doing business as a moving company. No sale condition was m…
9 3835 N Pecos Rd - Bldg-6Distance to Subject Property: 1.8 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 2006
RBA: 28,427 SF
Ceiling Height: 24'
Docks: 2 ext
Power: 600-800a/277-480v 3p 4…
Vacancy At S… 0%
Rail Served: None
Parking: Covered Spaces @ $0.0…
SALE
Sale Type: Investment
Sale Date: 8/4/2017
Time On Mar… 46 Days
Sale Price: $3,500,000
Price/SF: $123
Cap Rate: 6.5%
CONTACTS
Buyer: Mohsen Kazemi
Seller: Tony Canino
Listing Broker: Chocxo Chocolatier - T…
SALE TERMS
Financing: Unknown: Bank of A…
TRANSACTION NOTES
On August 4, 2017, the industrial property located at 3835 N Pecos Rd, Las Vegas, NV was sold. Bank of America financed a loan of $1,750,00…
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Page 145
Sale Comps Details3950-3970 Las Vegas Blvd
10 1955 Palm St - Palm Street BuildingDistance to Subject Property: 6.0 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 1987
RBA: 36,538 SF
Ceiling Height: 15'
Docks: 3 ext
Power: 3p
Vacancy At S… 100%
Cranes: None
Rail Served: None
Parking: 38 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 6/2/2017
Time On Mar… 309 Days
Sale Price: $3,300,000
Price/SF: $90
CONTACTS
Buyer: Daniel R. Williams
Seller: Bentar Development, Inc.
Listing Broker: CBRE - Jake Higgins, K…
SALE TERMS
Financing: 1st Mortgage Bal/P…
TRANSACTION NOTES
The property was purchased as an owner/user. Per the listing broker, the property was vacant at the time of sale. CBRE represented the seller o…
11 3935 N Pecos Rd - Bldg-3Distance to Subject Property: 1.7 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 2006
RBA: 17,240 SF
Ceiling Height: 24'
Docks: 2 ext
Power: 400a/277-480v 3p 4w
Vacancy At S… 0%
Rail Served: None
Parking: 23 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 5/9/2017
Time On Mar… 95 Days
Sale Price: $1,950,000
Price/SF: $113
CONTACTS
Buyer: Panda Windows & Doors
Seller: The Exone Company
Buyer Broker: Berkshire Hathaway Ho…
Listing Broker: CBRE - Donna Alderso…
SALE TERMS
Financing: 1st Mortgage Bal/P…
TRANSACTION NOTES
Comp information was confirmed by the buyers broker and the sellers broker.Panda Windows & Doors will expand to this location about July 1st.…
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Page 146
Sale Comps Details3950-3970 Las Vegas Blvd
12 3540 N 5th St - Coastline EquipmentDistance to Subject Property: 3.7 Miles
PROPERTY
Type: Service
Year Built/Re… 1992
RBA: 20,225 SF
Ceiling Height: 10'-30'
Docks: None
Vacancy At S… 0%
Rail Served: None
Parking: 26 Covered Spaces are…
SALE
Sale Type: Owner/User
Sale Date: 4/26/2017
Sale Price: $2,900,000
Price/SF: $143
CONTACTS
Buyer: Bragg Investment Com…
Seller: Blaine Equipment Com…
SALE TERMS
Sale Conditio… Excess Land
TRANSACTION NOTES
Sale consists of a single tenant 20,225 SF industrial building that sold for $2.9M. The buyer also bought the business Blaine Equipment as well a…
13 3348 Losee Rd - Flowers FoodsDistance to Subject Property: 3.2 Miles
PROPERTY
Type: Distribution
Year Built/Re… 1982
RBA: 18,722 SF
Ceiling Height: 20'-22'
Docks: 4 ext
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 50 free Surface Spaces…
SALE
Sale Type: Investment
Sale Date: 3/31/2017
Time On Mar… 329 Days
Sale Price: $1,668,400
Price/SF: $89
Cap Rate: 8.4%
CONTACTS
Buyer: Mark Anderson & Jie Y…
Seller: Anthony J Venti Jr & M…
Listing Broker: NAI Vegas - Mark Musser
SALE TERMS
Sale Conditio… Investment Triple Net
Financing: 1st Mortgage: One N…
TRANSACTION NOTES
Sale consists of single tenant 18,722 SF industrial building that sold for $1,668,400. The property is leased to Flowers Baking Company of Hend…
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Page 147
Sale Comps Details3950-3970 Las Vegas Blvd
14 500 E Cheyenne AveDistance to Subject Property: 3.7 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 1980
RBA: 22,124 SF
Ceiling Height: 16'-20'
Docks: None
Power: 3p
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 88 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 2/10/2017
Sale Price: $4,500,000
Price/SF: $203
CONTACTS
Buyer: Steven Craig Cooper
Seller: Steven Trenk
SALE TERMS
Sale Conditio… 1031 Exchange
Financing: 1st Mortgage: Seller…
TRANSACTION NOTES
Sale consists of three industrial buildings totaling 22,124 SF that sold for $4.5M. The property will occupied by the buyer, sits on 3.24 acres, built…
15 4120 Donovan WayDistance to Subject Property: 2.4 Miles
PROPERTY
Type: Distribution
Year Built/Re… 1995
RBA: 32,388 SF
Docks: 12 ext
Vacancy At S… 0%
Cranes: None
Rail Served: None
Parking: 180 free Surface Space…
SALE
Sale Date: 1/31/2017
Sale Price: $4,741,429
Price/SF: $146
CONTACTS
Buyer: Rush Enterprises, Inc.,…
Seller: 4150 Donovan Way LLC…
SALE TERMS
Sale Conditio… 1031 Exchange
Financing: 1st Mortgage: Seller…
TRANSACTION NOTES
CoStar was unable to verify further information regarding the transaction with either parties involved. The information has been provided by publi…
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Page 148
Sale Comps Details3950-3970 Las Vegas Blvd
16 2855 Coleman St - Bldg-2Distance to Subject Property: 6.2 Miles
PROPERTY
Type: Warehouse
Year Built/Re… 2007
RBA: 49,070 SF
Ceiling Height: 28'
Docks: 10 ext
Power: 1,000a/277-480v 3p Heavy
Vacancy At S… 0%
Rail Served: None
Parking: 65 free Surface Spaces…
SALE
Sale Type: Owner/User
Sale Date: 10/20/2016
Sale Price: $4,000,000
Price/SF: $82
CONTACTS
Buyer: SGPS Holdings LLC
Seller: Credit Union 1
SALE TERMS
Sale Conditio… Expansion
Financing: 1st Mortgage: JPMo…
TRANSACTION NOTES
This property sold to an owner/user reportedly for $4,000,000. The buyer also owns and occupies the building next door. This purchase represe…
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Page 149
Sales Volume3950-3970 Las Vegas Blvd
NORTH LAS VEGAS IND SUBMARKET SALES VOLUME IN SQUARE FEET
NORTH LAS VEGAS SUBMARKET CLUSTER SALES VOLUME IN SQUARE FEET
LAS VEGAS METRO SALES VOLUME IN SQUARE FEET
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Page 150
Sales Pricing3950-3970 Las Vegas Blvd
NATIONAL PRICE INDICES
REGIONAL INDUSTRIAL PRICE INDICES
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Sales Pricing3950-3970 Las Vegas Blvd
PRICE PER SF INDEX
UNITED STATES INDUSTRIAL PRICE PER SF IN PAST YEAR LAS VEGAS INDUSTRIAL PRICE PER SF IN PAST YEAR
PRICE PER SF SUMMARY OF SALES IN PAST YEAR
Geography HighTop 25%AverageMedianBottom 25%LowTransactions
$755,556United States 18,173 $0.02 $21 $68 $3,640 $8,405
$731Las Vegas 193 $11 $68 $120 $96 $182
$242North Las Vegas 61 $11 $61 $96 $87 $148
$203Selected Sale Comps 17 $61 $84 $117 $114 $151
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Page 152
Cap Rates3950-3970 Las Vegas Blvd
CAP RATE TRENDS
UNITED STATES LOGISTICS CAP RATES IN PAST YEAR LAS VEGAS LOGISTICS CAP RATES IN PAST YEAR
CAP RATE SUMMARY OF SALES IN PAST YEAR
Geography HighTop 25%AverageMedianBottom 25%LowTransactions
22.0%United States 2,007 1.6% 4.9% 7.0% 7.3% 10.1%
9.9%Las Vegas 34 5.0% 5.8% 6.5% 6.7% 8.0%
8.3%North Las Vegas 2 6.5% N/A 7.4% 7.4% N/A
8.4%Selected Sale Comps 2 6.5% N/A 7.5% 7.5% N/A
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Page 153