REPRESENTATIVE PHOTO

SHERWIN-WILLIAMS (NEW CONSTRUCTION - APRIL 2020)LAS VEGAS, NV

C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M

REPRESENTATIVE PHOTO

This confidential Offering Memorandum, has been prepared by JDS Real Estate Services, Inc (“JDS Real Estate Services”) for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. JDS Real Estate Services recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property described herein as Sherwin-Williams (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statementsmade in this Offering Memorandum or upon any other materials, statements or information provided by JDS Real Estate Services or its brokers.

JDS Real Estate Services makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. JDS Real Estate Services has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the JDS Real Estate Services and the Owner of the Property. JDS Real Estate Services makes no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, JDS Real Estate Services and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further, JDS Real Estate Services and the Property Owner disclaim any and all liability for any express or implied

representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other written or oral communication transmitted or made available to you. JDS Real Estate Services shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request.

This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization of JDS Real Estate Services. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to JDS Real Estate Services at your earliest convenience.

DISCLAIMER

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J D S R E S E R V I C E S . C O M

I N V E S T M E N T H I G H L I G H T S

I N V E S T M E N T O V E R V I E W

A E R I A L

P R O P E R T Y R E N D E R I N G S

S I T E P L A N

M A P S & D E M O S

L O C A T I O N O V E R V I E W

T E N A N T O V E R V I E W

TA

BL

E

OF

C

ON

TE

NT

S JDS REAL ESTATE SERVICES, INC

J E N N I F E R S T E I NReal Estate Broker

NV Lic. No. Brok.1001185.corp213.446.5366

sherwinwilliams@jdsreservices.com

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INVESTMENT H I G H L I G H T S

• Located in Las Vegas, an internationally renowned major resort city

• Long-term net lease with 10 years remaining

• Brand new construction build-to-suit (opening in April 2020)

• Corporate lease to an investment grade rated company (S&P: BBB)

• 10% rental increases every five years in the primary term and renewal options

• Outparcel to an Albertson’s grocery-anchored development

• Densely populated area with over 100,000 people living within a three-mile radius and

projected annual population growth in excess of 2.5%

• Nevada is an income tax free state

• Approximately 15 miles north of the famous Las Vegas Strip

• Retailers in the immediate trade area include Lowe’s, Walgreens, CVS, Sprouts, Alberton’s,

Bank of America, Starbucks, McDonald’s, and many others

• Positioned just north of the heavily trafficked signalized intersection of North Durango Drive

and Farm Road (47K VPD)

• Average annual household incomes of approximately $100,000 within a five-mile radius

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The Sherwin-Williams CompanyT E N A N T

INVESTMENT O V E R V I E W

2020Y E A R B U I LT

8470 Farm Road, Las Vegas, NV 89131

Investment Grade (S&P: BBB)C R E D I T R AT I N G

$3,640,000P U R C H A S E P R I C E

4.85%C A P R AT E

NN (Roof, Structure & Parking Lot) L E A S E T Y P E

$176,499.96N E T O P E R AT I N G I N C O M E

N O I S C H E D U L E

4,497 SF

.77 Acres

B U I L D I N G S I Z E

L A N D S I Z E

April 1, 2020 (Estimated)R E N T C O M M E N C E M E N T DAT E

April 30, 2030 (Estimated)L E A S E E X P I R AT I O N

10% Every Five YearsR E N TA L E S C A L AT I O N S

Four 5-YearR E N E WA L O P T I O N S

Years NOI Period Increase Cap Rate

1-5 $176,499.96 Primary Term - 4.85%

6-10 $194,149.92 Primary Term 10% 5.33%

11-15 $213,564.96 Option 1 10% 5.87%

16-20 $234,921.48 Option 2 10% 6.45%

21-25 $258,413.64 Option 3 10% 7.10%

26-30 $284,254.92 Option 4 10% 7.81%

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AERIAL

N. D

urango D

rive (3

0,000 V

PD)

N. D

urango D

rive (3

0,000 V

PD)(46,000 V

PD)

(46,000 VPD

)

Farm Road (17,000 VPD)Farm Road (17,000 VPD)

Centennial Hills Park & Ride

The Village of Centennial Springs

Palacio Apartments

Sandra Lee Thompson Elementary

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RENDERINGS

SOUTHEAST ELEVATION - STOREFRONT FACING PARKING

NORTHWEST ELEVATION - REAR FACING DURANGO DRIVE

SOUTHEAST ELEVATION - SIDE

NORTHEAST ELEVATION - SIDE

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SITE P L A N

TrashA

rea

Durango Drive

S H E R W I N - W I L L I A M S | L A S V E G A S , N V 9

SITE P L A N

GRANDCHINA

Farm Road

N Durango Dr

Tule Springs Road

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TOTAL POPULATIONPOPULATION RESIDENTIAL COUNT AVERAGE HH INCOME

1 mile 25,803

3 mile 100,438

5 mile 186,155

TOTAL HOUSEHOLDSPOPULATION RESIDENTIAL COUNT AVERAGE HH INCOME

1 mile 9,024

3 mile 35,521

5 mile 65,140

PROJECTED ANNUAL POPULATION GROWTH (2019-2024)

1 mile 1.95%

3 mile 2.55%

5 mile 2.18%

AVERAGE HH INCOMEPOPULATION RESIDENTIAL COUNT AVERAGE HH INCOME

1 mile $80,180

3 mile $95,276

5 mile $98,121

AREA DEMOGRAPHICS

DEMOGRAPHICS& M A P

3-Mile

5-Mile

Las Vegas Strip

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MAP & D I S T A N C E

Las Vegas Motor Speedway (18 miles)Las Vegas Motor Speedway (18 miles)

Nellis Air Force Base (19 miles)Nellis Air Force Base (19 miles)

Downtown (16 miles)Downtown (16 miles)

Mount Charleston (24 miles)Mount Charleston (24 miles)

The Strip (20 miles)The Strip (20 miles)

McCarran International McCarran International Airport (23 miles)Airport (23 miles)

19,821 Businesses in Las Vegas,

including 68% new businesses formed over the last 12 months

3.7% Unemployment Rate

in Las Vegas

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LOCATIONO V E R V I E W

LAS VEGAS is the 28th-most populated city in the United States, the most populated city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas Valley metropolitan area and is the largest city within the greater Mojave Desert. Las Vegas is an internationally renowned major resort city, known primarily for its gambling, shopping, fine dining, entertainment, and nightlife. The Las Vegas Valley, as a whole, serves as the leading financial, commercial, and cultural center for Nevada.

The city bills itself as The Entertainment Capital of the World and is famous for its mega casino–hotels and associated activities. It is a top three destination in the United States for business conventions and a global leader in the hospitality industry, claiming more AAA Five Diamond hotels than any other city in the world. Today, Las Vegas annually ranks as one of the world's most visited tourist destinations.

661,824 Las Vegas Residents

42.1 Million 2018 Visitors

$3.95 Billion* Taxable Retail Sales

in Las Vegas

*Up 6.7% over the past 12 months

35.9 Median Age in Las Vegas

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LOCATIONO V E R V I E W

The Vegas Golden Knights of the National Hockey League be-came the first major professional sports team to call Las Vegas home in 2017. In their inaugural season, they went to the Stanley Cup Finals. They play at the T-Mobile arena and have filled the stadium to 103.9%, 105.5%, and 105.3% capacity in each of their first three seasons. T-Mobile Arena is a multi-purpose indoor arena on the Las Vegas Strip. Aside from the Golden Knights, T-Mobile Arena has primarily been used for entertainment events such as concerts, and has been booked for mixed martial arts and professional boxing events, as well as other annual sporting events.

The Oakland Raiders of the National Football League are relo-cating to Las Vegas and will play their inaugural season in 2020, becoming the region’s third professional sports team. The Las Vegas Raiders will play at Allegiant Stadium, a $1.8 billion stadi-um that is located along Interstate 25, just west of the Mandalay Bay Hotel.

Las Vegas Knights

Las Vegas Raiders

T-Mobile Arena

Allegiant Stadium

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LOCATIONO V E R V I E W

CLARK COUNTY is the 14th largest county in the United States and is home to more than $2.3 million people. It is by far the most populous county in Nevada, accounting for nearly three-quarters of the state’s residents – thus making Nevada one of the most centralized states in the United States. Over 45 million people visit Clark County per year. The state of Nevada divides the state into several gaming districts. The reporting districts affecting Clark County are:

2,325,798Clark County Residents

$10.25 Billion 2018 Clark County Gaming Revenue

North Las Vegas: This region has 11 casinos and include the Fiesta Rancho, Texas Station, Jerry’s Nugget, and the Santa Fe Station.

Boulder Strip:

This region includes 33 casinos on Boulder Highway. Casinos within the Henderson city limits are included as well, such as Green Valley Ranch, Sunset Station, Fiesta, Eldorado, and Jokers Wild.

LV Strip: This region is composed of all the casinos on Las Vegas Boulevard, from The Stratosphere at the north end to Mandalay Bay on the south end. Also included are resorts near this area, such as The Rio, South Point, and the Hard Rock, and McCarran Airport.

Downtown: There are 19 casinos in this reporting area.

Laughlin: The casinos in Laughlin.

Mesquite: The casinos in Mesquite.

Balance of County: There are 66 casinos in this category that includes casinos at Lake Las Vegas, Jean, Primm, the Railroad Pass and Hacienda casinos, along with other casinos that don’t fit any other category such as Arizona Charlie’s Decatur, Gold Coast, The Orleans, The Palms, Suncoast, Rampart, and Red Rock Resort Spa and Casino.

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TENANTO V E R V I E W

THE SHERWIN-WILLIAMS COMPANY is an American Fortune 500 company that develops, manufactures, distributes and sells pains, coatings and related products to professional, industrial, commercial and retail customers primarily located in North and South America, the Caribbean, Europe, Asia and Australia. In June 2017, Sherwin-Williams acquired Valspar for approximately $9 billion.

The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paint and coatings, protective and marine products, as well as OEM product finishes and related products through dealers, home centers, distributors, hardware stores, and other retailers. The Consumer Brands Group segment provides architectural paints, stains, varnishes, industrial products, wood finish products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks, and adhesives. The Performance Coatings Group segment offers industrial coatings for wood finishing and general industrial applications, automotive refinish products, protective and marine coatings, coil and packaging coatings, and performance-based resins and colorants; and specialty coatings through direct sales staff and outside sales representatives to retailers, dealers, jobbers, licensees, and other third party distributors.

Sherwin-Williams was founded by Henry Sherwin and Edward Williams in 1866 in Cleveland where the company is presently headquartered. Today they have approximately 4,900 company-operated specialty paint stores.

Sherwin-Williams is an investment grade rated company with a Standard & Poor’s rating of BBB. The company is publicly traded on the New York Stock Exchange (SHW) with a market capitalization in excess of $53 billion.

Website: www.sherwin-williams.com

Credit Rat ing: Investment Grade (S&P: BBB)

Stock Symbol: NYSE: SHW

Market Capital izat ion: $53 Billion

Number of Locations: 4,900

Headquarters: Cleveland, OH

Year Founded: 1866

REPRESENTATIVE PHOTO

JDS REAL ESTATE SERVICES, INC

1 2 3 1 P U E R T A D E L S O L , S T E 1 0 0S A N C L E M E N T E , C A 9 2 6 7 3

J D S R E S E R V I C E S . C O M

J E N N I F E R S T E I NReal Estate Broker

NV Lic. No. Brok.1001185.corp213.446.5366

sherwinwilliams@jdsreservices.com