single tenant net leased investment

2900 West Horizon Ridge Parkway, Henderson, NV 89052 OFFERING MEMORANDUM

SINGLE TENANT NET LEASED INVESTMENT

5960 South Jones BoulevardLas Vegas, Nevada 89118T 702.388.1800F 702.388.1010

Service You Deserve. People You Trust. www.mdlgroup.com

Alicia NelsonSenior [email protected]

Hayim Mizrachi, CCIMPresident I Principal | Broker [email protected]






This package is provided to you by MDL Group and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the property described in the attached documentation (the “Property”). The providing of “this package” to you and your use thereof is conditioned upon your agreement to the terms set forth below.

This package contains selected information pertaining to the Property. It does not purport to be a representation of the state of affairs of the current owner, nor should it be con-strued to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and MDL Group. All projections, assumptions and other information provided are made herein are subject to material variation. MDL Group has not inde-pendently investigated the accuracy of the information within the package, as such information was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.

Neither the owner, MDL Group, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, which disclaimer is incorporated herein by reference.

You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.

By receipt of “this package”, you agree that the package and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose the package or any of its contents to any other entity without the prior written authorization of owner. You also agree that you will not use the package or any of its contents in any manner detrimental to the interest of the owner or MDL Group.

This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on the package as part of your investigations on this Property. If you have no interest in further pursuing this Property, please return this package to MDL Group.

Disclaimer






INVESTMENT OVERVIEWLOCATION 2900 W. Horizon Ridge Pkwy., Suite 201, Henderson, NV 89052

PARCEL NUMBER 177-25-411-017

INTERSECTION Horizon Ridge Pkwy., just west of Coronado Center Drive

ACRES ±1.76

BUILDING SQUARE FOOTAGE

±27,611

SQUARE FOOTAGE ±2,289 Usable ±2,793 Rentable

TENANTS Southend Strategic Partners dba Ameriprise Financial Services

PURCHASE PRICE $775,000.00 ($277.48/SF)

CAP RATE 6.75%

NOI $52,440.00 (includes 5% Vacancy Factor)

LEASE RATE $1.65/RSF ($4,600.00 Per Month)

LEASE TYPE NNN

RENTAL ESCALATIONS None

YEAR BUILT 2004

LEASE TERM June 7, 2018 - June 7, 2023 (5 years)

HOA Approximately $13,011.87 annually. Paid in full by Tenant monthly

PROPERTY TAXES $2,708.24 annually. Paid in full by Tenant quarterly

PARKING 4 Covered/assigned parking stalls to Suite 201

ZONING C-O (Office Commercial)






PROPERTY PHOTOS

Building Exterior Lobby

Reception/Open Plan Conference Room






PROPERTY DESCRIPTION AREA DESCRIPTION

2900 W. Horizon Ridge is a ±27,611 square foot, two-story, Class B office building comprised of individual office condos located in the South Las Vegas/Henderson submarket. The property offers frontage along West Horizon Ridge Parkway, and is located just west of Coronado Center Drive.

Suite 201 is owned by Flynn Properties Group and leased to Southwest Strategic Partners dba Ameriprise Financial Services. The build-out of the space is best de-scribed as designer quality finishes offering an efficient floor plan with reception and waiting area, 2 conference rooms, perimeter offices, central workspaces, storage and kitchenette.

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

POPULATION ±21,108 ±138,731 ±290,953

HOUSEHOLD INCOME $86,744 $92,081 $90,517

*Source by STDB 2018

TRAFFIC COUNTS ±13,000 cars per day via Horizon Ridge Parkway

*Source by STDB 2018

South Las Vegas is the largest office submarket in the metro, with nearly 20% of its total office inventory. McCarran International Airport, St. Rose Dominican Hospitals, and proximity to the I-215 are primary demand drivers here. Vacancies remain low helped along by positive demand, and limited new development.

The South Las Vegas office submarket is one of the most actively traded. Sales vol-ume in 2018 has been robust following up on a strong 2017 that posted the highest volume of the cycle to date. Year over year sales have nearly doubled over the pre-vious year to $359 million in the submarket.

CoStar is reporting an overall market vacancy rate for the Second Quarter 2018 to be 11.6% with the South Las Vegas submarket vacancy slightly lower than the overall market at 10.9%. Current market conditions show a 1.3% decrease in the submarket vacancy year over year. The average gross asking rents have increased 7.2% to $2.02 per square foot.






AERIAL MAP






SUBMARKET MAP






SITE PLAN

*Drawings and plans are not to scale. Any measurements are approximate and are for illustrative purposes only. There is no guarantee, warranty or representation as to the accuracy or completeness of any plans or designs.






FLOOR PLANS

SUITE 201USABLE SF: ±2,289

RENTABLE SF ±2,793

*Drawings and plans are not to scale. Any measurements are approximate and are for illustrative purposes only. There is no guarantee, warranty or representation as to the accuracy or completeness of any plans or designs.






TENANT PROFILE

Ameriprise Financial Services - Ameriprise’s financial advisors pro-vide advice to help clients reach their goals and realize their person-al and financial potential throughout their lifetimes – helping them feel the confidence to live the full and rich lives they’ve earned.

Ameriprise Financial history stretches back more than a century, and the diversified business being anchored in the long-term, personal relationships developed with clients and the values that guide their actions.

From short-term to long-term goals, their financial advisors work with clients individually to develop financial strategies designed to achieve them, while preparing for unexpected events that may arise along the way. Their personalized, comprehensive financial planning services include access to a wide range of solutions including investment products, insurance, and brokerage services to help clients reach their goals for education savings, protection, estate planning strategies, retirement and more. For more information, please visit https://www.ameriprise.com/financial-planning/about/our-company/

With a history of more than 120 years, they have built a reputation based on financial strength, in-tegrity and an untarnished reputation for doing what’s right.






LOCATION OVERVIEW GAMING & TOURISM

With the star power of Las Vegas and the diversity of natural settings, Hospitality and Tourism is the state’s iconic consumption-oriented industry and a major economic engine that creates tens of thousands of jobs for Nevadans.

Given its leadership, Nevada is focused on leveraging its intellectual capital in hospi-tality, tourism and related leisure services to diversify the traditionally service-oriented industry into higher-value and innovative activities that would create higher-skill and higher-paying jobs, expand the state’s exports, and even open up new opportunities for IT-based activities.

The Southern Region of Nevada includes the cities of Las Vegas, Henderson, North Las Vegas, Mesquite, Boulder City, and the unincorporated parts of Clark County. Over 2 million people live in the metropolitan area, making it, by far, the largest popula-tion center in Nevada. Though the Las Vegas metropolitan area is known primarily for tourism, our economy is diverse and employs many people in the healthcare, defense, IT and manufacturing sectors.

Las Vegas is one of the most famous tourist destinations in the world, but in recent years it has also become one of the top business destinations in the world. Four Fortune 500 companies are headquartered in Las Vegas, and many more global com-panies do business in Southern Nevada. Over six million people a year come to Las Vegas for conventions. Those six million people represent nearly all of the Fortune 500, and thousands of other global companies. Because of conventions, Las Vegas has become a global marketplace, where deals get made and ideas are born.






ADVANTAGES OF DOING BUSINESS IN NEVADA

LAS VEGAS KEY INDUSTRIES

• 40 million people visit Nevada each year and is the #1 for economic development programs in terms of job creation, retention and training

• McCarran Airport is the nation’s 7th busiest airport• #1 for new business launches• Consistently one of the “Top 10” most business-friendly states• NO corporate or personal income tax • NO inventory tax• NO franchise tax• NO unitary tax• NO special intangible tax• Able and willing workforce in right-to-work-state• #2 for small business survival

• Tourism, Gaming and Hospitality• Aerospace & Defense• Heath & Medical Services• Information Technology• Manufacturing & Logistics• Mining• Natural Resource Technologies - Agriculture - Energy - Water

*Source by www.diversifynevada.com






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LAS VEGAS GLOBAL BUSINESS DISTRICT

MSG SPHERE

RESORT WORLD LAS VEGAS

Las Vegas Convention Center (2017-2024) – A $1.4-billion project that extends to the Strip and will include 600,000 square feet of exhibit hall, outdoor exhibi-tion space and a complete renovation of the existing convention space. This expan-sion will allow for an overflow area for conventions to use while the remaining halls of the main convention center are renovated. Thus, refreshing the beating heart of the Las Vegas valley. With 6 million plus convention attendees visiting us last year.

Resorts World Las Vegas (2020) – A $4-billion mega resort developed by Malaysia-based Genting, catering to an Asian demographic specifically from Singapore, Malaysia and the Philippines, will have 4,000 rooms.

Work has begun on the massive, 18,000-seat MSG Sphere at The Venetian in Las Vegas. The new venue is set to change live performance in Sin City as we know it, not to mention the famous skyline. This spherical structure will be the first of its kind. The MSG Sphere will feature fully programmable, high-tech video screens on the interior and exterior. Plus, top-notch sound capabilities featuring vibrations from a infrasound haptic floor system.The MSG Sphere facility is on pace to open in the 2021 fiscal year (July 1, 2020-June 30, 2021).

LAS VEGAS VALLEY OVERVIEW







LAS VEGAS STADIUM

LAS VEGAS BALLPARK

COMPLETION OF I-11 TRADE ROUTE

The Oakland Raiders received the NFL’s approval to move to Sin City for the 2020 NFL season. Las Vegas has proposed a new $1.9 billion stadium just to the west to the strip. The venue’s horse-shoe shape designed by Manica Architecture, would accommodate an audience of 65,000 spectators, 8,000 cars, tailgating ameni-ties and mixed-use commercial facilities. Along with the economic benefits of in season games, this venue would also allow Las Vegas to host the annual Su-per Bowl - which would bring hundreds of millions of dollars in tourism and revenue.

With the Completion of the I-11 Trade Route the increase amount of trucking and ware-housing space will only continue to explode in our small valley as we look forward to be-coming a major distribution hub for the entire southwest united states. The first of many of these expansion projects can be seen popping up near the US-95 on your way toward Utah where amazon along plans on building 3 more building of the same size and scale of there first facility joining many other companies in these large distribution yards under construction now.

The new stadium, expected to be called the Las Vegas Ballpark, will be the future home of the Las Vegas 51s. The Las Vegas 51s team is owned by the Hughes Corporation, and it is a member of the Pacific Coast League, as well as a Triple-A affiliate of the New York Mets. The Howard Hughes Corporation acquired full ownership interest earlier this year.

LAS VEGAS VALLEY OVERVIEW






POPULATION

NEVADA POPULATION The earliest visitors to the Las Vegas were migrant Paleo-Indians, who travelled here 10,000 years prior, abandoning petroglyphs. Anasazi and Paiute tribes took after no less than 2,000 years back. Las Vegas was established as a city in the year 1905, when 110 acres of land area adjoining the Union Pacific Railroad tracks were unloaded in what might turn into the downtown territory. In the year 1911, Las Vegas was joined as a city.

The landlocked state of Nevada is situated toward the western edge of the United States. It covers a vast area of 110,567 square miles which makes it the seventh largest state in the country in terms of sheer land mass. According to the latest estimates from the Census Bureau, the population of Nevada is 2,890,845.

The current population for Nevada in 2018 is estimated at 3.06 million which is a sizeable increase from its 2.7 million population at the 2010 Census. Nevada currently has one of the strongest growth rates in the country, reflecting a 7.05% population between 2010 and 2015, which ranks 6th in the nation.

*Source: http://worldpopulationreview.com/states/nevada-population/

FOR MORE INFORMATION PLEASE CONTACT:

Service You Deserve. People You Trust.


Alicia NelsonSenior Advisor [email protected]

single tenant net leased investment

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