FULLY-LEASED HUGHES AIRPORT CENTER INDUSTRIAL INVESTMENT OPPORTUNITY955 Grier Drive | Las Vegas, NV 89119

OFFERING SUMMARY

OFFERING SUMMARY

Cushman & Wakefield, as exclusive listing broker, is pleased to offer for sale the ±46,498sf multi-tenant NNN leased industrial investment property located within Hughes Airport Center at 955 Grier Drive. The property is a high-image office/warehouse building occupied by seasoned tenants such as Aruze Gaming, Sega Sammy Creation USA, Vapetasia, and Paradise Poker Club (tavern) with average lease expira-tions of over 2 years and multiple extension options. The convenient location in the Airport Submarket immediately adjacent to McCarran International Airport provides excellent access to the airport, the I-15 and I-215 freeways, the Las Vegas “Strip” and all convention facilities.

Located within Hughes Airport Center at the corner of Grier Drive and Paradise Road, the building enjoys excellent exposure for image-con-scious tenants and regional access to I-215 E/W (with interchange to I-15 N/S) via signalized intersection at Sunset Road. Originally constructed and occupied for government subcontractors, the buildings provide ample power for light manufacturing, assembly, or distribution uses. The building is built out with 39% office plus a restaurant/tavern space, and features five (5) oversized grade level roll-up doors and multiple interior dock wells (filled) which could be reactivated if needed.

This opportunity provides a rare high-quality fully leased investment opportunity and provides a new debt opportunity with seasoned occupancy that is expected to provide a stable cash flow opportunity for a passive investment buyer, family trust, or other private capital buyer.

INVESTMENT SUMMARY

ASKING PRICE: $5,995,000

Property Size: ±46,498 SF ($129/SF)

In-Place NOI (1/19): $420,285*

Actual Cap Rate: 7.0%

Occupancy: 100%

Number of Tenants: Four (4) – 2y+ Avg Remaining Lease Term

Stories: One (1) Story

Office Buildout: 18,000sf (39%)

Site Size: ±3.42 ac

Loading: Five (5) Grade Level / Multiple Interior Dock Well (filled)

Power: 2,200 amps – 120/208v – 3 Phase/4 Wire

Parking: 2.12/1,000 (±105 spaces)

Zoning: Light Manufacturing (M-1) – Clark County

Year Built: 1986

Parcel Number: 177-03-510-010

*assumes renewal of any expiring leases in 2019 at current rate

Geoffrey West Senior DirectorCapital Markets Investment Property Sales & Acquisitions+1 702 688 6936geoffrey.west@cushwake.com

View and Download more information here:www.955grier.cushwakesites.com

INVESTMENT HIGHLIGHTSHigh-Image Stabilized Industrial Investment Opportunity - Rare stabilized industrial acquisition opportunity within the 420 acre, 3.3 million square foot Hughes Airport Center busi-ness park that provides stable income opportunity at 7% in-place cap rate, with seasoned tenancy at below-market lease rates due to recent teaser rate incentives, and ability to obtain new acquisition financing to enhance cash-on-cash returnsStrategic Airport Submarket Las Vegas Location - Conve-nient location in the Airport Submarket immediately adjacent to McCarran International Airport provides excellent access to the airport, the I-15 & I-215 freeways, the Las Vegas “Strip”, and all convention facilities in a premier Las Vegas business park environment home to numerous technology, gaming, and high-profile companiesCore Quality Investment with International Company Tenancies - Credit tenancies at property include top-tier international companies such as Aruze Gaming and Sega Sammy Creation plus the internationally recognized Vapetasia brand e-liquid provider found in almost 1,400 retail locations worldwide with majority of leases providing annual increases, personal guaran-tees, and extension optionsModern and Versatile Building Features - Building offers ample parking, building signage opportunities, clear height in excess of 20’, existing modern office buildouts, ample pow-er availability, and a wide range of loading options including oversized grade level doors, and interior dock well (filled) for climate controlled and secured loadingUnique Location within Foreign Trade Zone - Property is located within Foreign Trade Zone 89 which is a unique des-ignation of significant benefit to businesses in international trade that allows for manufacturing and/or assembling for re-exported goods without payment of any duties and taxes providing significant cost savings to businesses and a signifi-cant competitive advantage to properties located within this designationRobust Las Vegas Economy - The broader Las Vegas econ-omy continues to improve with unemployment improving to 4.9% as of Aug-2018 from a peak of almost 15% in 2010, visitor volumes up down slightly but exceeding record volumes from two of the past three record years, the Las Vegas Case-Shiller housing index has recovered from a low of 90 in March 2012 to 186 in July 2018 but remains well below 2006 peak of 235, and gaming/tourism metrics are all showing continued improve-ment with over $10B of ongoing and expected Strip/Resort Corridor developments in the next 2-4 years

LAS VEGAS MARKET OVERVIEWAt a population of over 2.2 million people, Las Vegas has established itself as a legitimate major market over the past decade. Although the recent challenges in Las Vegas were well publicized, the robust economy has continued to persevere and has experienced continued organic growth but still signifi-cantly lags peak pricing in most sectors resulting in a healthy economic environment. Final numbers for year-end 2017 reflect continued strong mar-ket momentum with the following performance statistics:• Visitor Volume 42.2M -1.7% • Hotel Occupancy 88.6% -0.5% • Convention Attendance 6.65M 5.3% • Average Daily Rate (ADR) $129.41 2.7% • Revenue Per Available Room (RevPAR) $114.59 2.0% • Gaming Revenue $9.98B 2.7% Major developments are ongoing with the post-recession openings of the SLS Las Vegas, The Cromwell, The Linq/High Roller, and in 2016-2017 alone Las Vegas saw the completion of over $1.6B in resort, gaming and amenity projects. During 2018-2019 in the Resort Corridor there are still over $2.5B of projects in-process including Park MGM/NoMad rebrand, Palms Casino Resort renovation, and numerous hotel convention center expansions. Looking further ahead to 2020-2021 there are over $14B of projects in-process or planned which include the $3B The Drew Las Vegas (Marriott/Witkoff), first phase of $4B 3,500 room Resorts World Las Vegas project, the target-ed completion of the $1.9B Las Vegas Raider NFL stadium, and over $1.4B expansion/renovation of Las Vegas Convention Center, with all of these projects expected to create significant positive long-term economic impact.Nevada is now a recovered and growing market, but through-out this recovery with organic and sustainable growth. Tourism has increased, visitor volume exceeds two of three prior record years, convention activity is up significantly, and the LVCVA is actively seeking new ways to promote Las Vegas. With pro-jections indicating continued job gains, Nevada and Las Vegas appear to be on a continued path to sustained growth and its new future.INDUSTRIAL MARKET OVERVIEWThe Las Vegas Industrial market (123.5M SF) has continued a trend of reduced vacancy rates and increasing lease rates with current vacancy of 4.7% for the market overall and even lower at 4% for the Airport submarket where the property is located. Key statistics are summarized below:

LAS VEGAS INDUSTRIAL MARKET SUMMARY - 2Q 2018

Market Vacancy - Las Vegas Industrial 4.7%

Market Vacancy - Flex 5.3%

Submarket Vacancy - Airport 4.0%

Submarket Vacancy - Flex N/A

Average NNN Market Asking Rent $0.58

Average NNN Submarket Asking Rent $0.78

Average NNN Market Asking Rent - Flex $0.88

Average NNN Submarket Asking Rent - Flex N/A

Market Inventory - Existing SF (M) 123.49

Submarket Inventory - Existing SF (M) 14.45

Market Inventory - Flex (M) 21.72

Submarket Inventory - Flex (M) N/A

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COMPETING AVAILABLE FOR LEASE PROPERTIES – AIRPORT SUBMARKET – OCTOBER 2018Building Name Address Year Built Total SF Occ % Available SF Buildout % Asking Rents Lease Type CAM Loading (G/D)SUBJECT-Hughes Airport Center - 955G 955 Grier Drive 1986 46,498 100% N/A 39% $0.72-$0.80 NNN $0.21 G/D (interior filled)Hughes Airport Center - 500P 500 Pilot Road 1997 34,493 53% 4,672-11,680 46%-100% $0.90-$1.20 NNN $0.30 GAirport Distribution Center 1889 E. Maule Ave. 1999 69,592 79% 14,533 60% $0.89 NNN $0.17 G/DHughes Airport Center - 680P 680 Pilot Road 1997 50,950 55% 3,095-19869 100% $1.30 NNN $0.25 G/DHughes Airport Center - 750P 750 Pilot Road 1998 56,416 65% 5,695-8,106 50%-100% $1.00-$1.30 NNN $0.30 GHughes Airport Center - 6700P 6700 Paradise Rd. 1991 53,115 92% 4,352 100% $1.20 NNN $0.22 GMarnell Airport Center 1945 & 1965 E. Russell Rd. 2017 58,195 75% 14,614 10% $0.77 NNN $0.16 G/DSpencer & Helm Business Center 6672 Spencer St. 2001 57,600 83% 10,065 28% $0.86 NNN $0.167 G/DParadise Airport Center 1110 Palms Airport Dr. 1994 36,169 60% 14,404 42% $0.75 NNN $0.18 GSpencer Airport Plaza II 2057 East Maule Ave. 2003 28,910 66% 9,862 54% $0.72 NNN $0.18 GAVERAGES 49,493 70% 10,488 $0.95 $0.21

RENT ROLL

Suite Rent SF

Lease Start Date

Lease Expiration

Actual Rent/Month

Actual Rent/SF/Mo

2018 Budgeted Monthly CAM

CAM $/SF/Mo

Extension Options

Ste A - Aruze Gaming America, Inc. 16,388 12/1/2013 11/30/2019 $13,040 $0.80 $3,371.60 $0.21 1 x 2y

Ste B - Vapetasia 10,428 7/1/2018 9/30/2021 $7,404 $0.71 $2,146.04 $0.21 1 x 3y - FMV

Ste C - Sega Sammy Creation USA 14,880 6/1/2018 9/30/2021 $10,714 $0.72 $3,061.67 $0.21 3 x 1y - 3%

Ste D - Paradise Poker Club 4,802 4/1/2014 3/31/2019 $3,159 $0.66 $988.35 $0.21 1 x 5y - 21.5%

Totals/Averages 46,498 4/8/2016 8/30/2020 $34,316 $0.74 $9,567.65 $0.21

Note: Assumes renewal of any expiring leases during analysis year at current rate

PRO-FORMA FINANCIAL STATEMENT

FY 2019 PRO-FORMA

Income Amount $/SF/YR

Gross Scheduled Rent $411,791 $8.86

CAM Reimbursement $118,597 $2.55

Effective Rental Income $530,388 $11.41

Expenses

CAM-Real Estate Taxes $30,925 $0.67

CAM-REA Assessment $11,330 $0.24

CAM-Property Insurance $8,446 $0.18

CAM-Contracted Services $16,480 $0.35

CAM-Repair & Maintenance $13,905 $0.30

Cap Ex/Reserves-Unreimbursed $6,975 $0.15

Total Operating Expenses 21% $110,103 $2.37

Net Operating Income $420,285 $9.04

TENANT PROFILES(www.aruzegaming.com) – Aruze Gaming is a multi-national company with operations in Asia, America,

Europe, Australia, and South Africa. Aruze is a global entertainment company that designs, develops, and manufactures slot ma-chines and gaming devices for the global casino market and has a history of strong innovation throughout its industry. Originally founded in Japan in 1969, Aruze Gaming America was founded in 1983 as predecessor company Universal Distributing of Nevada and has occupied this property since 2013 which serves as its corporate headquarters for Aruze Gaming America.

(www.vapetasia.com) – Vapetasia was established in 2014and is a manufacturer of gourmet E-Liquid for e-cig and “vape” systems for smokeless tobacco. With distribution in almost 1,400 locations worldwide, their brand is viewed

as one of the premier providers for this industry. Products are manufactured offsite and this location serves as a distribution facility to its various wholesale and retail relationships as well as a showroom for potential retail partners. Lease provides for almost a 6% increase after Y1 due to an initial teaser rate, and after increase $0.73/sf/mo NNN lease rate would remain slightly below market.

(www.segasammycreation.com) – Sega Sammy Creation was established in Japan in 2013 and is involved in the de-velopment, manufacturing, and sales of casino machines as well as providing cosigned development and advising

on gaming machines. This location serves as the headquarters for Sega Sammy Creation USA Inc. Lease provides for almost a 9% increase after Y1 due to an initial teaser rate, and after increase to $0.75/sf/mo NNN lease rate would remain slightly below market.Paradise Poker Club (tavern) – This tenant operates as Paradise Pub and The New American Sandwich Company and space is developed as bar/tavern with up to 15 gaming devices and a restaurant/sandwich shop with a full kitchen. The restricted gaming license at this property is the only use of this type within Hughes Airport Center and one of the only restaurant uses providing unique competitive positioning for the space. Due to unique nature of space and interest to preserve license, existing lease rate is significantly below market.

RECENT INDUSTRIAL INVESTMENT SALE COMPARABLES

Property Name Property Address

Bldg SF Site (AC)

Sale Date

Sale Price Price Per SF

Actual Cap Rate

% Occ

Submarket Year Built

Clear Height

Loading (G/D)

Power Comments

SUBJECT-955 Grier Drive Las Vegas, Nevada 89119

±46,498 ±3.42 N/A $5,995,000 $129 7.00% 100% Airport 1986 20 5G /In-ternal D

2200a Subject Property

Cameron Court 4270 & 4290 Cameron St. Las Vegas, NV 89103

32,876 2.16 Mar 2018

$4,375,000 $133 7.00% 100% West 1993-1995

22' N/A N/A Location: Slightly Inferior Quality: Slightly Inferior

Henderson Freeways Crossing 8355 Eastgate Rd - Bldg E Henderson, NV 89015

36,380 1.27 Apr 2018

$4,200,000 $115 N/A 100% SE LV/Henderson 2017 28' N/A N/A Location: Similar Quality: Slightly Superior

Gibson Wigwam Business Center 50 N Gibson Rd Henderson, NV 89014

26,133 2.26 Dec 2017

$3,900,000 $149 7.00% 100% SE LV/Henderson 2008 16' N/A 200a Location: Slightly Inferior Quality: Slightly Superior

1111 Mary Crest Rd Henderson, NV 89074

44,435 3.23 Jul 2018

$5,400,000 $122 N/A 100% SE LV/Henderson 1998 N/A G 200a Location: Slightly Inferior Quality: Similar

Parc Post 6461 W Post Rd - Bldg 3 Las Vegas, NV 89118

53,040 2.86 Mar 2017

$7,160,400 $135 N/A 100% Southwest 2016 28 12G 1600a Location: Slightly Inferior Quality: Slightly Superior

3450 W Teco Ave Las Vegas, NV 89118

34,916 2.20 Sep 2017

$4,650,000 $133 6.49% 100% Southwest 2006 N/A 6G N/A Location: Slightly Inferior Quality: Slightly Superior

AVERAGES 37,963 $4,947,567 $131 6.83% 2009

OFFERING SUMMARY

Geoffrey West Senior DirectorCapital Markets +1 702 688 6936Geoffrey.West@cushwake.com

6725 Via Austi Pkwy.Suite 275 Las Vegas, NV 89119 Main +1 702 796 7900 Fax +1 702 796 7920cushmanwakefield.com

Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

View and Download more information here:www.955grier.cushwakesites.com

BUILDING FLOORPLAN

FULLY-LEASED HUGHES AIRPORT CENTER INDUSTRIAL INVESTMENT OPPORTUNITY955 Grier Drive | Las Vegas, NV 89119

Fenced Area

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Suite BLeased - Vapetasia

Suite CLeased - Sega Sam

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Suite ALeased - Aruze G

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Leased - Paradise Poker Club

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McCarran CenterBusiness Park

Hughes Airport CenterBusiness Park

TOWN SQUARE

LAS VEGAS SOUTHPREMIUM OUTLETS

Travis NoackDirector+1 702 688 6870Travis.Noack@cushwake.com

Kimberly Noack-SummersDirector+1 702 688 6924Kimberly.Summers@cushwake.com

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