FOR SALE ±41,676 SF VALUE-ADD THREE-STORY CLASS “B ... · chris connell +1 702 836 3709. [email protected]. prepared by: ±41,676 sf value-add three-story class “b”

COLLIERS INTERNATIONAL P. 198 E. LAKE MEAD PARKWAY, HENDERSON, NV 89015 | INVESTMENT OFFERING

3960 Howard Hughes Parkway, Suite 150Las Vegas, NV 89169

T+1 702 735 5700F +1 702 731 5709

www.colliers.com/lasvegas

STACY SCHEER, CCIM+1 702 836 3762 [email protected]

GRANT TRAUB+1 702 836 3789 [email protected]

CHRIS CONNELL+1 702 836 3709 [email protected]

PREPARED BY:

±41,676 SF VALUE-ADD THREE-STORY CLASS “B” MEDICAL OFFICE BUILDING ON ±0.70 ACRES 98 E. LAKE MEAD PARKWAY :: HENDERSON, NV 89015

FOR SALE

OFFERING MEMORANDUM


Confidentiality Agreement

1. Purpose. Company and Recipient wish to explore a potential business opportunity of mutual interest and in connection with this opportunity, Company may disclose to Recipient certain confidential technical and business information, which Company desires Recipient to treat as confidential. 2. “Confidential Information” means (a) any information disclosed by Company to Recipient, either directly or indirectly, in writing, orally or by inspection of tangible objects, including, without limitation, algorithms, business plans, business systems, customer data, customer lists, customer names, designs documents, drawings, logos, proposed trademarks or similar intellectual property, engineering information, financial analysis, forecasts, formulas, hardware configuration information, know-how, ideas, inventions, market information, marketing plans, processes, products, product plans, research, specifications, software, source code, trade secrets or any other information which is designated as “confidential,” “proprietary” or some similar designation (collectively, the “Disclosed Materials”) and (b) any information otherwise obtained, directly or indirectly, by Recipient through inspection, review or analysis of the Disclosed Materials. Confidential Information may also include information of a third party that is in the possession of Company and is disclosed to Recipient under this Agreement. Confidential Information shall not, however, include any information that (i) was publicly known and made generally available in the public domain prior to the time of disclosure by Company; (ii) becomes publicly known and made generally available after disclosure by Company to Recipient through no action or inaction of Recipient; (iii) is already in the possession of Recipient at the time of disclosure by Company as shown by Recipient’s files and records immediately prior to the time of disclosure; (iv) is obtained by Recipient from a third party lawfully in possession of such information and without a breach of such third party’s obligations of confidentiality; or (v) is independently developed by Recipient without use of or reference to Company’s Confidential Information, as shown by documents and other competent evidence in Recipient’s possession. 3. Non-use and Non-disclosure. Recipient agrees not to use any Confidential Information for any purpose except to evaluate and engage in discussions concerning a potential business relationship between Recipient and Company. Recipient agrees not to disclose any Confidential Information to third parties or to employees of Recipient, except to those employees who are required to have the information in order to evaluate or engage in discussions concerning the contemplated business relationship. Recipient shall not reverse engineer, disassemble or decompile any prototypes, software or other tangible objects which embody Company’s Confidential Information and which are provided to Recipient hereunder. 4. Maintenance of Confidentiality. Recipient agrees that it shall take all reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of the Confidential Information. Without limiting the foregoing, Recipient shall take at least those measures that Recipient takes to protect its own most highly confidential information and shall have its employees who have access to Confidential Information sign a non-use and non-disclosure agreement in content substantially similar to the provisions hereof, prior to any disclosure of Confidential Information to such employees. Recipient shall not make any copies of Confidential Information unless the same are previously approved in writing by the Company. Recipient shall reproduce Company’s proprietary rights notices on any such approved copies, in the same manner in which such notices were set forth in or on the original. Recipient shall immediately notify Company in the event of any unauthorized use or disclosure of the Confidential Information. 5. No Obligation. Nothing herein shall obligate Company or Recipient to proceed with any transaction between them, and each party reserves the right, in its sole discretion, to terminate the discussions contemplated by this Agreement concerning the business opportunity; provided, however, such termination shall in no way diminish, terminate or otherwise affect Recipient’s non-disclosure and confidentiality obligations hereunder. 6. No Warranty. ALL CONFIDENTIAL INFORMATION IS PROVIDED “AS IS.” COMPANY MAKES NO WARRANTIES, EXPRESS, IMPLIED OR OTHERWISE, REGARDING ITS ACCURACY, COMPLETENESS OR PERFORMANCE. 7. Return of Materials. All documents and other tangible objects containing or representing Confidential Information and all copies thereof which are in the possession of Recipient shall be and remain the property of Company and shall be promptly returned to Company upon Company’s request. 8. No License. Nothing in this Agreement is intended to grant any rights to Recipient under any patent, mask work right or copyright of Company, nor shall this Agreement grant Recipient any rights in or to Confidential Information except as expressly set forth herein. 9. Non-Circumvention. Upon execution of this Agreement, Recipient agrees to refrain from, directly or indirectly, circumventing Company’s interest in any business opportunity which it becomes aware of as a result of any Confidential Information. Recipient is not under any duty or obligation to disclose or offer any business opportunity to the other Company that is unrelated to the business of Company. 10. Relationship Between the Parties. Nothing contained in this Agreement shall be deemed to constitute a partnership or joint venture between Recipient and Company to give rise to any license or right of either of the parties to any information owned or controlled by the other Party. 11. Term. This Agreement shall survive until such time as all Confidential Information disclosed hereunder becomes publicly known and made generally available through no action or inaction of Recipient. 12. Remedies. Recipient agrees that any violation or threatened violation of this Agreement will cause irreparable injury to the Company, entitling Company to obtain injunctive relief in addition to all legal remedies, and should Company have to retain the services of an attorney to enforce its rights hereunder as against Recipient, and Company is the substantially prevailing party, then Company shall be awarded its costs and legal fees to the fullest extent permitted by applicable law. 13. Recipient Information. Company does not wish to receive any confidential information from Recipient, and Company assumes no obligation, either express or implied, with respect to any information disclosed by Recipient. 14. Miscellaneous. This Agreement shall bind and inure to the benefit of the parties hereto and their successors and assigns. This Agreement shall be governed by the laws of the State of Nevada, without reference to conflict of laws principles. This document contains the entire agreement between the parties with respect to the subject matter hereof. Any failure to enforce any provision of this Agreement shall not constitute a waiver thereof or of any other provision hereof. This Agreement may not be amended, nor any obligation waived, except by a writing signed by both parties hereto.

© 2016 Colliers International


Table of Contents

04 EXECUTIVE SUMMARYThe Offering

Property Description

Offer Submittals

Aerial

Site Plan

Floorplans

Property Photos

Area Map

16 FINANCIAL OVERVIEWRent Roll

18 COMPARABLE PROPERTIESLease Comparables

Lease Comparables Map

Sales Comparables

Sales Comparables Map

26 LOCATION OVERVIEWLocation Overview

Market Overview

Economic Indicators

29 DEMOGRAPHICS

31 LAS VEGAS MARKET OVERVIEW


E X E C U T I V E S U M M A R Y04


Executive SummaryINVESTMENT SUMMARY

St. Rose Dominican Medical Plaza 98 E. Lake Mead Parkway | Henderson, NV 89015

Description ±Value-Add Class B Medical Office

Purchase Price $3,500,000

Price/SF $84/SF

Building Size ±41,676 SF

Total Acreage ±0.70 Acres

Occupancy 16.10%

Year Built 1992

Zoning Downtown Mixed Use (DX)

APN 178-18-503-002

Construction Type Steel Frame

Number of Stories Three (3)

Parking 210 Spaces, 5/1000

Ground Lease

Building located on Ground Lease with CHW (Dignity). Certain tenant uses are subject to approval. Ground Lease payment is 3% of Net Operating Expenses(per Ground Lease).

THE OFFERING

COLLIERS INTERNATIONAL IS PLEASED TO PRESENT ST. ROSE DOMINICAN MEDICAL PLAZA LOCATED AT 98 E. LAKE MEAD PARKWAY, CONSISTING OF ONE THREE (3) STORY CLASS B MEDICAL BUILDING TOTALING 41,676 SQUARE FEET ON 0.70 ACRES LOCATED IN THE HENDERSON SUBMARKET & EAST HENDERSON MEDICAL CORRIDOR.

The property stands out as one of the more highly desired locations, strategically located on the hard corner of Lake Mead Parkway and Boulder Highway, with visibility from the both major arterials. Southeast Henderson is increasingly gaining footing as the next prominent location for development in the Las Vegas Valley with a myriad of new master-planned and mixed use communities including the 2,200 acre Cadence Community, will complement the area’ s established neighborhoods.

St. Rose Dominican Medical Plaza represents one of the last remaining value add opportunities in the suburban Class B Medical Office arena. The size of healthcare users has changed as consolidation of medical practices continues and large multi-specialty centers are realizing the necessity of economies of scale, driving high demand for large, contiguous floor plates of 15,000 square feet and above. Providers are focused on capturing more market share by ease of patient accessibility from a larger geographical area. This emphasis on location has caused the mandate for medical office locations on major arterial streets, within close proximity to major freeways to increase their patient pool. The current lack of well-positioned, large medical office buildings that are able to accommodate this growing need has created a gap in the market for this particular asset type.


STRATEGICALLY LOCATED On a major medical campus within a fast-growing redevelopment community.

ABUNDANT PARKING For medical and office users. HIGH VISIBILITY HARD CORNER Location with immediate ingress and egress onto major arteries streets.

AMENITY RICH AREA Close proximity to numerous restaurants, drug stores, banks and other retail outlets.

REPRESENTS ONE OF ONE REMAINING Value add opportunities in the suburban Class B medical office arena.

Property Description


Executive SummaryOFFER SUBMITTALS

Thank you for your continued interest in Colliers International offering of the fee simple interest in 98 E. Lake Mead Parkway | Henderson, NV 89015

The following provides an outline for submittals and terms:

Offers will be evaluated based upon a combination of purchase price, transaction timing, closing certainty, and due diligence completed to date. At a minimum, offer submissions should include the following:

• Terms and Price• Deposit Amounts• Conditions of Purchase and Contingencies, if any.• Proposed Due Diligence and Closing Time frame• Description of Purchasing Entity with Resume/Schedule of recently acquired real estate• Due Diligence Completed to Date, and a timeline that includes a Due Diligence period

not longer than 45 days.




All offers should be submitted to:

3960 Howard Hughes Parkway, Suite 150Las Vegas, NV 89169T+1 702 735 5700F +1 702 731 5709www.colliers.com/lasvegas


Aerial

EAST

LAKE M

EAD PA

RKWAY (3

6,500 CPD)

BOULDER HIGHWAY

SUBJECT

210 Parking Spots

DIGNITY ST. ROSE HOSPITAL –

DE LIMA CAMPUS

(24,000 CPD)


Site Plan


DE LIMA CAMPUS

SUBJECTPROPERTY

DIAG. IMAG.& SURGERY

BOULDER HIGHWAY

EAST LAKE MEAD PARKWAY

KINDRED


101±4,390 SF

102±1,044 SF

103

106±1,040 SF

105±3,022 SF

St. Rose Dominican Medical Plaza - First Floor 98 East Lake Mead Drive, Henderson, NV 89015

104±1,121 SF

Floor Plan | Level 1= LEASED

= AVAILABLE


201±6,084 SF

204±1,341 SF

202±1,196 SF

206±2,158 SF

207±2,308 SF

St. Rose Dominican Medical Plaza - Second Floor 98 East Lake Mead Drive, Henderson, NV 89015


= AVAILABLE


300

303±1,059 SF305

306±3,688 SF

307±3,270 SF

302±1,248 SF

HENDERSON, NV. 89015 - THIRD FLOOR98 EAST LAKE MEAD DRIVE


= AVAILABLE

±1,999 SF


Property Photos


Aerial

EAST LAKE MEAD PARKWAY (36,500 CPD)

BOULDER HIGHWAY (24,000 CPD)


DE LIMA CAMPUS

CADENCE

SUBJECT

WATER STREET


Area Map

UPRR

SOUTHERNHILLS HOSPITAL

SOUTHERNHILLS HOSPITAL

ST. ROSESAN MARTIN

HOSPITAL

ST. ROSESAN MARTIN

HOSPITAL

SPRINGVALLEY

HOSPITAL

SPRINGVALLEY

HOSPITAL

RED

RO

CK

NA

TIO

NA

LCO

NSE

RVA

TIO

N A

REA

CCSNCHARLESTON

CAMPUS

CCSNCHARLESTON

CAMPUS

UNIVERSITYMEDICAL CENTER

UNIVERSITYMEDICAL CENTER

CCSNCHEYENNE

CAMPUS

CCSNCHEYENNE

CAMPUS

DESERTSPRINGS

HOSPITAL

DESERTSPRINGS

HOSPITAL

ST. ROSEDOMINICAN HOSPITAL

SIENA CAMPUS

ST. ROSEDOMINICAN HOSPITAL

SIENA CAMPUS

ST. ROSEDOMINICAN

HOSPITAL

ST. ROSEDOMINICAN

HOSPITAL

CCSNHENDERSON CAMPUS

CCSNHENDERSON CAMPUS

15

15

15

15

15

93

93

93

95

93

95

95

95

93

93

93

95

95

95

215

215

215

215

215

515

515

515

502

593

564

582

160

604

604

604

589

159

599

574

573

147147

147

147

595

595 607

607

146

582

612

157

15

GRAND TETON DRIVE

ELKHORN ROAD

LOSSE ROAD

W CENTENNIAL PARKWAY

ANN ROADW ANN ROAD

SIMMONS STREET

N DECATUR BLVD

CRAIG ROAD

E DESERT INN ROAD

W CHARLESTON BLVD E CHARLESTON BLVD

W SAHARA AVE

W DESERT INN ROAD

FLAMINGO ROAD FLAMINGO ROAD

BUFFALO DRIVE

S RAINBOW BLVD

S DURANGO DRIVE

FORT APACHE ROAD

TROPICANA AVENUE TROPICANA AVENUE

BOULDER HWY

STEWART AVENUE

E BONANZA ROAD

E OWENS AVENUE

W LONE MOUNTAIN ROAD

N JONES BLVD

W ALEXANDER ROAD

W CHEYENNE AVENUE

S DECATUR BLVDN DECATUR BLVD

N JONES BLVD

E SAHARA AVE

S PECOS ROAD

S EASTERN AVENUE

BLUE DIAMOND ROAD

W WARM SPRINGS ROAD

S RAINBOW BLVD

GOMER ROAD

S JONES BLVD

W SUNSET ROAD

W RUSSELL ROAD

VALLEY VIEW ROAD

VALLEY VIEW ROAD

N RANCHO DR

SOUTH LAS VEGAS BLVD

BERMUDA RD

MARTIN LUTHER KING JR BLVD

N 5TH STREET

N LAS V

EGAS B

LVD

N EASTERN AVE

W WASHINGTON DRIVE

E LAKE MEAD BLVD

W LAKE MEAD BLVD

TOWN CENTER DRIVE

W HORIZ

ON RIDGE PKWY

N STEPHANIE STREET

LAMB BLVD

NELLIS BLVD

HUALAPAI WAY

RACETRACK ROAD

COLLEGE DR

EQUESTRIAN DR

E PARADISE HILLS DR

RICHARDSON DRIVE

BURKHOLDER BLVD

GREEN VALLEY PARKWAY

MARYLAND PARKWAY

E RUSSELL ROAD

WARM SPRINGS ROAD

MARYLAND PARKWAY

ALTA DRIVE

VEGAS DRIVE

SMOKE RANCH ROAD

PECOS ROAD

S HOLLYWOOD BLVD

N DURANGO DRIVE

CAMINO AL NORTE

WINDMILL LN

UNION PACIFIC RR

KYLE CANYO

N RD

S BUFFALO DRIVE

E WASHINGTON AVE

N HOLLYWOOD BLVD

N LOS FELIIZ ST

VEGAS VALLEY DRIVE

FREMONT ST

S SANDHILL ROAD

E SUNSET ROAD

E SUNSET ROAD

WINDMILL LANE

DEAN MARTIN DR

W SILVERADO RANCH BLVD

W CACTUS AVE

SOUTHERN HIGHLANDS PARKWAY

SHINNECOCK HILLS AVE

MOUNTAINS EDGE PKWY

W CACTUS AVE

S FORT APACHE RD

W WIGWAM AVE

VOLUNTEER BLVD

ANTHEM PARKWAY

SEVEN HILLS DR

AMERICAN PACIFIC DR

EASTGATE RD

BROADBENT BLVD

MISSION DR

GREENWAY RD

W PACIFIC AVE

S WATER STE VAN WAGENEN ST

FOOTHILLS DR

APPALOOSA RD

S MAGIC WAY

CENTER ST

PABCO ROAD

N ARROYO GRANDE BLVD

VALLE VERDE DR

E PEBBLE ROAD

SPRING MOUNTAIN RD

PARADISE RD

E ST LOUIS AVE

N BRUCE ST

E EVANS AVE

BELMONT ST

E CAREY AVE

S LAMB BLVD

N PECOS ROAD

WASHBURN RD

N TENAYA WAY

SEVERENCE LANE

DEER SPRINGS WAY

CLIFF SHADOWS DRIVE

DESERT FOOTHILLS DR

W ARBY AVE

PAIUTE

WAY

HACIENDA AVE

St Rose

Parkw

ay

UNION

PACIFIC

RR

E LAKE MEAD PA

RKWAY

WESTCLIFF DRIVE

N RAINBOW BLVD

LAKE LAS VEGAS PKWY

SUMMERLIN PARKWAY

INDUSTRIAL

ROA

D

BUFFALO DRIVE

CRAIG ROAD

E CHEYENNE AVENUE

E LAKE MEAD BLVD

LOSEE

RD.

“THE

STRIP

”

GIBSON Rd.

BUFFALO DRIVE

NELLIS AFB

NORTH LAS VEGASAIRPORT

MC CARRANINT’L AIRPORT

LAKELAS VEGAS

LOSPRADOS

SOUTHERNHIGHLANDS

SUNSETPARK

LAS VEGASMUNICIPAL

SPANISH TRAIL

RHODESRANCH

NEVADATRAILS

CORONADORANCH

DURANGOHILLS

HENDERSON EXECUTIVEAIRPORT

LAS VEGAS

EASTLAS VEGAS

GREENVALLEY

SUMMERLIN

HENDERSON

NORTHLAS VEGAS

SILVERADORANCH

DEL WEBB’SANTHEM

SOUTHFORK

SUNRIDGE WESTCANYON

DEL WEBBSUN CITY MACDONALD RANCH

RAILROADPASS

MACDONALDHIGHLANDS

WHITNEYRANCH

UNLV

BOULEVARDMALL

SPRINGVALLEY

SUNRISECOLONY

THE LAKES

PECCOLERANCH

SUN CITY LAS VEGASDESERTSHORES

RANCHOALTA MIRA

RANCHODEL NORTE

EL DORADO

PARK HIGHLANDS

IRONMOUNTAIN

RANCH

PROVIDENCE

SILVERSTONE

LAS VEGASMOTOR SPEEDWAY

APEX INDUSTRIAL PARK

LAS VEGASPAIUTE GOLF RESORT

MOUNTAIN’SEDGE

ALIANTE

SHADOWCREEK

SUNRISEVISTA

DESERT PINES

DESERTROSE

ROYALLINKS

STALLIONMOUNTAIN

REFLECTIONBAY

THEFALLS

TUSCANY

BLACKMOUNTAIN

DRAGON RIDGEDRAGON RIDGE

ANTHEM

REVERE

RIO SECCO

WILDHORSE

LEGACY

BALIHAI

WYNN

LAS VEGASCC

PAINTED DESERT

EAGLECREST

TPC ATCANYONS

TPC ATSUMMERLIN

HIGHLANDFALLS

PALMVALLEY

REDROCK

BADLANDS

BEAR’SBEST

ANGELPARK

CANYONGATE

SIENA

INSPIRADA

KYLECANYONGATEWAY

SPRINGMOUNTAIN

RANCH

ELKHORNSPRINGS

SEVEN HILLS

TOWNSQUARE

NELLIS AFB

= HOSPITAL LOCATION

Subject


F I N A N C I A L O V E R V I E W16


Rent Roll – Occupancy SummaryAs of Date: 9/30/2017

Rent Roll - Occupancy SummaryAs of Date: 09/30/2017 Show Excluded Units: No Show All Amounts: Monthly

Page 1

Lease Name LeaseFrom

LeaseTo

TermMonths

RentableArea Base Rent

RentPer

Area

RecoveryPer

AreaDeposit

TotalPer

AreaUnit

Property: St. Rose Dominican Medical Plaza LP - 301MiscPer

AreaMiscRecoveryMTMIndexDate Min Max

UsableArea Total

Nevada Health Center (t0001976) - Triple Net

10,000.00 85 1.37 0.494,431 6,064.09 1.8608/06/15 08/05/22 0.00 103 0.000.00 2,186.23 0.003,956.00 8,250.32

Dignity Health (t0001952) - Triple Net

0.00 61 1.33 0.452,277 3,019.59 1.8001/27/15 01/26/20 0.03 301 0.000.00 1,024.65 65.002,033.00 4,109.24

VACANT () - N/A

0.00 - 0.00 0.004,390 0.00 0.000.00101 0.000.00 0.00 0.003,920.00 0.00

0.00 - 0.00 0.001,044 0.00 0.000.00102 0.000.00 0.00 0.00932.00 0.00

0.00 - 0.00 0.001,121 0.00 0.000.00104 0.000.00 0.00 0.001,001.00 0.00

0.00 - 0.00 0.003,022 0.00 0.000.00105 0.000.00 0.00 0.002,698.00 0.00

0.00 - 0.00 0.001,040 0.00 0.000.00106 0.000.00 0.00 0.00929.00 0.00

0.00 - 0.00 0.006,084 0.00 0.000.00201 0.000.00 0.00 0.005,432.00 0.00

0.00 - 0.00 0.001,196 0.00 0.000.00202 0.000.00 0.00 0.001,068.00 0.00

0.00 - 0.00 0.001,341 0.00 0.000.00204 0.000.00 0.00 0.001,197.50 0.00

0.00 - 0.00 0.002,158 0.00 0.000.00206 0.000.00 0.00 0.001,927.00 0.00

0.00 - 0.00 0.002,308 0.00 0.000.00207 0.000.00 0.00 0.002,061.00 0.00

0.00 - 0.00 0.001,248 0.00 0.000.00302 0.000.00 0.00 0.001,114.00 0.00

0.00 - 0.00 0.001,059 0.00 0.000.00303 0.000.00 0.00 0.00945.90 0.00

0.00 - 0.00 0.001,999 0.00 0.000.00305 0.000.00 0.00 0.001,785.00 0.00

0.00 - 0.00 0.003,688 0.00 0.000.00306 0.000.00 0.00 0.003,293.00 0.00

0.00 - 0.00 0.003,270 0.00 0.000.00307 0.000.00 0.00 0.002,920.00 0.00

Percentage Total USFTotal Base

Rent

TotalRent

Per

TotalRecoveryPer Area

15

2 %11.76

%88.24

Total Units

TotalMiscPer

TotalCharges

Per

1.35

0.00

0.48

0.00

0.01

0.00

1.84

0.00

41,676 9,083.68 0.22 0.08 0.00 0.30

Summary

Vacant

Totals

Occupied

TotalDeposit

10,000.00

Percentage

%16.10

%83.90

6,708 9,083.6810,000.00

34,968 0.000.00

17

TotalRecovery

3,210.88

0.00

3,210.88

TotalMisc

65.00

0.00

65.00

Total

12,359.56

0.00

12,359.56

Total RSF

5,989

31,223

37,212

Monday, August 21, 2017


C O M PA R A B L E P R O P E R T I E S18


Lease Comparable PropertiesLEASE COMPARABLE REPORT DECEMBER 07, 2016

DATE SIGN/LED TI NEW / EXISTSTART/EFF RATE LEASE TERMPROPERTY COMMENTSEXPENSESOCCUPIED DATETENANTTYPE LANDLORD SF

Black Mountain Professional

Plaza

1700 W Horizon Ridge Pkwy,

Suite 202

Henderson, NV 89012

1Professional

Direct

982 11/13/2016 36 MonthsJDL Property

Management

Corley / $1.606 MG11/13/2016 /

11/12/2019

1016151997

Sansone 215 Pecos

9065 S Pecos Rd, Suite 190

Henderson, NV 89074

2Professional

Direct

7,371 11/4/2016 $0.30 126 Months 3% annual increases. 6 months free

rent.

HealthMedica 9005-9089 S

Pecos Rd

Holding

$1.42 /

$1.575 NNN

11/4/2016 /

5/3/2027

1016175694

Siena Pavilion

861 Coronado Center Dr

Bldg 3, Suite 100

Henderson, NV 89052

3Medical

Direct

11,216 10/12/2016 $0.56 $30.00 / 84 Months 3% annual increases. 6 months free

rent.

ADCS Clinics 2850 West

Horizon Ridge

Parkway

Holdings

$1.25 /

$1.116 NNN

10/12/2016 /

10/11/2023

1016183085

Horizon Ridge Professional

Center


Suite 215

Henderson, NV 89012

4Professional

Direct

940 10/2/2016 40 MonthsDoulas of Las

Vegas

Horizon Ridge

Professional

Center

/ $1.405 MG10/2/2016 /

2/1/2020

1016194885

Siena Office Park


Bldg 4, Suite 110

Henderson, NV 89052

5Professional

Direct

3,454 8/21/2016 66 MonthsRBSM TAG Coronado 1 / $1.272 NNN8/21/2016 /

2/20/2022

1016190482

Stephanie Beltway Centre

150 N Stephanie St Bldg 3,

Suite 125

Henderson, NV 89014

6Professional

Direct

4,634 10/1/2016 $45.00 / 60 Months 3% annual increases. 3 months free

rent.

Goosehead

Insurance

Agency

Henderson

Beltway

/ $1.822 NNN7/18/2016 /

9/30/2021

1016085676

Colliers International is pleased to provide the above information and in doing so believes its validity. However, we cannot guarantee its accuracy or take responsibility for its use.BR_Comp-L_Matrix_LL Page 1 of 2

1

2

3

4

5

6


Lease Comparable Properties

DECEMBER 07, 2016LEASE COMPARABLE REPORT

DATE SIGN/LED TI NEW / EXISTSTART/EFF RATE LEASE TERMPROPERTY COMMENTSEXPENSESOCCUPIED DATETENANTTYPE LANDLORD SF

3300 St Rose Pkwy (Office),

Suite B

Henderson, NV 89052

7Professional

Direct

3,773 5/1/2016 $0.30 36 MonthsCECO

Enterprises

CECO

Enterprises

/ $1.232 NNN5/1/2016 /

4/30/2019

1016078386

Black Mountain Professional

Plaza


Suite 102/200/201

Henderson, NV 89012

8Professional

Direct

1,989 2/14/2016 12 Months3PEA

International

Corley / $1.48 MG2/14/2016 /

2/13/2017

1016194112

Green Valley Corporate

Center South - B3

2225 Village View Dr Bldg

B3, Suite 290

Henderson, NV 89074

9Professional

Direct

3,664 1/28/2016 $6.82 / 60 Months 3% annual increases.Inenvi Vestar

Development

$2.00 /

$2.124 MG

1/28/2016 /

1/27/2021

1016196328

Siena Pavilion


Bldg 3, Suite 131

Henderson, NV 89052

10Medical

Direct

4,425 1/10/2016 $10.00 / 36 Months 3% annual increases.Women's Health

Associates of

Southern

Nevada

Triple Net

Properties

$1.25 /

$1.288 NNN

12/15/2015 /

1/9/2019

1016155384

Augusta Park

1485 W Warm Springs Rd,

Suite 103

Henderson, NV 89014

11Professional

Direct

2,288 11/29/2015 36 MonthsGoldfield Transwestern

Investment

Realty

/ $1.75 NNN11/29/2015 /

11/28/2018

1016188794

Corley Center

303 Water St, Suite 100-115

Henderson, NV 89015

12Professional

Direct

4,246 11/15/2015 12 MonthsClark County

Credit Union

Water Street IC / $1.768 NNN11/15/2015 /

11/14/2016

1016188160

7777 Eastgate Rd

Henderson, NV 8901113

Professional

Renewal

13,135 11/15/2015 24 MonthsUniversity of

Phoenix

7777 Eastgate / $2.47 FSG11/15/2015 /

11/14/2017

1016188156

13 62,117Total Comps: Total Comp SF:

Colliers International is pleased to provide the above information and in doing so believes its validity. However, we cannot guarantee its accuracy or take responsibility for its use.BR_Comp-L_Matrix_LL Page 2 of 2

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DECEMBER 07, 2016LOCATION SUMMARY

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Lease Comparable Properties


1 880 Seven Hills Dr - Seven Hills Medical Center SOLD

177-35-510-004

Henderson, NV 89052Sale Date:

Pro Forma CapRate:

Price/SF:Sale Price:

Actual Cap Rate:

$130.34$6,510,00010/20/2016 (86 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

In Progress

Class B OfficeMedicalBuilt 2002 Age: 1449,945 SF

Clark County

Research Status:Sale Conditions: -Comp ID: 3741883

2 5495 S Rainbow Blvd - Rainbow Springs Professional Building SOLD

163-27-713-003

Las Vegas, NV 89118Sale Date:

Pro Forma CapRate:


Actual Cap Rate:

$142.70$3,700,000 - Confirmed05/23/2016 Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Confirmed

Class B OfficeBuilt 2001 Age: 1525,929 SF

Clark County

Research Status:Sale Conditions: Auction SaleComp ID: 3609413

3 8064-8084 W Sahara Ave - R & R Plaza SOLD

163-04-812-001


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: Auction Sale, REO SaleComp ID: 3609407

4 4530 S Decatur Blvd - Skyview Business Park SOLD

162-19-301-024


Pro Forma CapRate:


Actual Cap Rate:

$48.57$2,420,251 - Confirmed05/10/2016 (90 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Confirmed

Class B OfficeMedicalBuilt 1997 Renov 2016 Age: 1949,833 SF

Clark County

Research Status:Sale Conditions: Auction Sale, High Vacancy PropertyComp ID: 3596538

5 8876 Spanish Ridge Ave - Bldg 18-Phase III SOLD

163-29-712-003


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: Building in Shell Condition ...Comp ID: 3582992

6 2500 N Buffalo Dr - Las Vegas Tech Center II (Part of Multi-Property) SOLD


Pro Forma CapRate:


Actual Cap Rate:

$135.77$11,825,000 - Full Value03/30/2016 (258 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Full Value

Class B OfficeOffice/ResidentialBuilt 2002 Age: 1487,095 SF

Clark County

Research Status:Sale Conditions: High Vacancy PropertyComp ID: 3571039

Copyrighted report licensed to Colliers International - 531629. 11/3/2016

Page 1

Sales Comparables


1 880 Seven Hills Dr - Seven Hills Medical Center SOLD

177-35-510-004


Pro Forma CapRate:


Actual Cap Rate:

$130.34$6,510,00010/20/2016 (86 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

In Progress


Clark County


2 5495 S Rainbow Blvd - Rainbow Springs Professional Building SOLD

163-27-713-003


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: Auction SaleComp ID: 3609413

3 8064-8084 W Sahara Ave - R & R Plaza SOLD

163-04-812-001


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: Auction Sale, REO SaleComp ID: 3609407

4 4530 S Decatur Blvd - Skyview Business Park SOLD

162-19-301-024


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed

Class B OfficeMedicalBuilt 1997 Renov 2016 Age: 1949,833 SF

Clark County

Research Status:Sale Conditions: Auction Sale, High Vacancy PropertyComp ID: 3596538

5 8876 Spanish Ridge Ave - Bldg 18-Phase III SOLD

163-29-712-003


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: Building in Shell Condition ...Comp ID: 3582992

6 2500 N Buffalo Dr - Las Vegas Tech Center II (Part of Multi-Property) SOLD


Pro Forma CapRate:


Actual Cap Rate:

$135.77$11,825,000 - Full Value03/30/2016 (258 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Full Value

Class B OfficeOffice/ResidentialBuilt 2002 Age: 1487,095 SF

Clark County

Research Status:Sale Conditions: High Vacancy PropertyComp ID: 3571039


Page 1

Sales Comparables


7 7951 W Deer Springs Way - Cimarron Commons SOLD

125-21-710-008


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: REO SaleComp ID: 3529391

8 871 Coronado Center Dr - Siena Office Park SOLD

177-25-410-013


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

-11.00%

Parcel No:

Confirmed


Clark County

Research Status:Sale Conditions: REO SaleComp ID: 3476463

9 2851 N Tenaya Way - Mountain View Professional Plaza SOLD

138-15-610-015


Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

-7.50%

Parcel No:

Confirmed


Clark County



Page 2

Sales Comparables


880 Seven Hills Dr1 Sold: $6,510,000 ($130.34/SF)Henderson 49,945 SF Class B Office/Medical

5495 S Rainbow Blvd2 Sold: $3,700,000 ($142.70/SF)Las Vegas 25,929 SF Class B Office

8064-8084 W Sahara Ave3 Sold: $3,900,000 ($68.16/SF)Las Vegas 57,222 SF Class B Office

4530 S Decatur Blvd4 Sold: $2,420,251 ($48.57/SF)Las Vegas 49,833 SF Class B Office/Medical

8876 Spanish Ridge Ave5 Sold: $3,000,000 ($84.12/SF)Las Vegas 35,663 SF Class B Office

2500 N Buffalo Dr (Part of Multi-Property Sale)6 Sold: $11,825,000 ($135.77/SF)Las Vegas 87,095 SF Class B

Office/Office/Residential

7951 W Deer Springs Way7 Sold: $3,800,000 ($97.93/SF)Las Vegas 38,803 SF Class B Office

871 Coronado Center Dr8 Sold: $5,460,000 ($105.68/SF)Henderson 51,666 SF Class B Office/Medical

2851 N Tenaya Way9 Sold: $8,910,000 ($202.98/SF)Las Vegas 43,897 SF Class B Office/Medical

Address City Property Info Sale Info


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LO C AT I O N O V E R V I E W26


EAST LAKE MEAD PARKWAY (36,500 CPD)

BOULDER HIGHWAY


DE LIMA CAMPUS

ALBERTSONS

CADENCE

KINDRED HOSPITAL

SUBJECT

(24,000 CPD)

Location OverviewST. ROSE DOMINICAN MEDICAL PLAZA IS LOCATED WITHIN THE EAST HENDERSON SUBMARKET AND MEDICAL CORRIDOR LOCATED DIRECT-LY ON THE DIGNITY ST. ROSE DOMINCAN HOSPITAL DE LIMA CAMPUS. THE SUBJECT PROPERTY IS STRATEGICALLY LOCATED ON THE HARD CORNER OF LAKE MEAD PARKWAY AND BOURLDER HIGHWAY AND PROVIDES ACCESS TO BOTH INTER¬STATE 95 AND INTERSTATE 215. THERE ARE NUMEROUS MIXED-USE OFFICE PROJECTS AND RETAIL AMENITIES WITHIN CLOSE PROXIMITY.

• On major medical campus. • Access to I-95 & I-215

• Growing redevelopment community


Historical Net Absorption vs. Completions

Medical Office is Recovering Nicely

For the fifth straight quarter, Southern Nevada’s medical office market posted not just positive, but quite strong net absorption. This was primarily due to the completion of a significant amount of new medical office space in the Valley, which suggests that, as we have said many times, the needs of modern medical practices were not being met by older medical office space. Asking rental rates for medical office increased by $0.03 per square foot (psf) on a full service gross (FSG) basis to $2.22.

Historical Vacancy Rates and Rental Rates

Market Overview

> New medical development brought higher net absorption in the second quarter

> Medical office vacancy continued to decrease

> Asking rental rates continued to increase

+0.9%

HEALTHCARESpending

HEALTHCAREEmployment

-9.5

MEDICALSF/Job

+36.8%

Q22017

Economic Indicators

Market Indicators Relative to prior period Q2 2017 Q3 2017*

VACANCY

NET ABSORPTION

COMPLETIONS

RENTAL RATE *Projected

Summary Statistics Las Vegas Market Q2-16 Q1-17 Q2-17

Vacancy Rate 17.1% 16.3% 16.1%

Asking Rent (PSF, NNN) $2.14 $2.19 $2.22

Net Absorption (SF) 1,095 20,989 234,812

New Completions (SF) 0 80,000 258,954

Overall Asking Rents Per Square Foot

Class A $2.58 $2.67 $2.72

Class B $2.20 $2.20 $2.20

Class C $1.78 $1.82 $1.81

-50,000

0

50,000

100,000

150,000

200,000

250,000

300,000

2 Q 2015

3 Q 2015

4 Q 2015

1 Q 2016

2 Q 2016

3 Q 2016

4 Q 2016

1 Q 2017

2 Q 2017

Net Absorption Completions

$2.12

$2.14

$2.16

$2.18

$2.20

$2.22

$2.24

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

2 Q 2015

3 Q 2015

4 Q 2015

1 Q 2016

2 Q 2016

3 Q 2016

4 Q 2016

1 Q 2017

2 Q 2017

Vacancy Rate Rental Rate

“Whether the next round of healthcare reform in Washington D.C. will knock things off kilter is unknown, but as yet they do not appear to be dampening demand for medical office space in Southern Nevada”


D E M O G R A P H I C S29


0 - 1 MILES 0 - 3 MILES 0 - 5 MILES

2016 Daytime Business 11,528 34,278 60,123

2021 Projection 10,308 81,080 178,849

2016 Estimate 10,199 77,297 167,812

2010 Census 10,307 72,701 153,972

2000 Census 11,272 59,297 108,527

Projected Growth 2016 - 2021 1.07% 4.89% 6.58%

Estimated Growth 2010 - 2016 -1.04% 6.32% 8.99%

Growth 2000 - 2010 -8.56% 22.60% 41.87%


2021 Projection 4,025 30,186 66,118

2016 Estimate 3,921 28,670 62,021

2010 Census 3,821 26,700 56,930

2000 Census 4,092 21,408 39,710

Projected Growth 2016 - 2021 2.66% 5.29% 6.61%

Estimated Growth 2010 - 2016 2.61% 7.38% 8.94%

Growth 2000 - 2010 -6.61% 24.72% 43.36%


Total 3,921 28,670 62,021

2016 Est. Average Household Income $44,959 $67,023 $70,901

2016 Est. Median Household Income $36,349 $54,513 $57,947


Total 10,199 77,297 167,812

White Alone 71.89% 75.39% 72.62%

Black or African American Alone 8.00% 5.50% 6.44%

Amer. Indian and Alaska Native Alone 1.34% 1.01% 0.79%

Asian Alone 3.12% 5.42% 7.11%

Native Hawaiian and Other Pac. Isl. Alone 0.61% 0.55% 0.59%

Some Other Race Alone 8.68% 6.60% 6.73%

Two or More Races 6.35% 5.53% 5.73%

Not Hispanic or Latino 77.83% 81.14% 80.61%

Hispanic or Latino 22.17% 18.86% 19.39%

DemographicsPOPULATION

HOUSEHOLDS

2016 EST. HOUSEHOLDS BY HH INCOME

2016 EST. POPULATION BY SINGLE-CLASSIFICATION RACE

0% 5% 10% 15% 20% 25% 30%

1-‐Mile

3-‐Mile

5-‐Mile

Est Owner Occupied Property Values

$1,000,000 or more

$750,000 to $999,999

$500,000 to $749,999

$400,000 to $499,999

$300,000 to $399,999

$200,000 to $299,999

$150,000 to $199,999

$100,000 to $149,999

$80,000 to $99,999

$60,000 to $79,999

$40,000 to $59,999

0%

5%

10%

15%

20%

25%

30%

$15,000 or Less $15,000 to $24,999

$25,000 to $34,999

$35,000 to $49,999

$50,000 to $74,999

$75,000 to $99,999

$100,000 to $124,999

$125,000 to $149,999

$150,000 to $199,999

$200,000 to $249,999

$250,000 to $499,999

$500,000 or More

Es5mated Households By Income

1-‐Mile 3-‐Mile 5-‐Mile

0% 20% 40% 60% 80% 100% 120%

1-‐Mile

3-‐Mile

5-‐Mile

Es2mated Households By Type

Single Person Household Married Other Family -‐ Male Head Other Family -‐ Female Head

COLLIERS INTERNATIONAL P. 311330 SOUTH VALLEY VIEW BOULEVARD | INVESTMENT OFFERING

Clark County is the southernmost county of the state of Nevada. It includes the cities of Las Vegas, North Las Vegas, Henderson, Boulder City, Mesquite and Laughlin.

Clark County is served by I-15, I-515, I-215, US-93/95, State Routes 157, 159 and 160 and County Route 215. By car, one can get to Los Angeles in 4 hours, Phoenix in 5 hours, Salt Lake City in 6 hours and Reno in 8 hours. Clark County is also served by the Union Pacific Rail Road.

McCarran International Airport was ranked the 24th busiest airport in the world in 2012, with 41,667,596 enplaned/deplaned passengers. McCarran’s maximum capacity is estimated at 53 million passengers, and is projected to reach capacity in 2017.

Clark County has become a popular place to locate a business due to its strategic location in the Southwest U.S., its right-to work legislation and its light tax burden. The state of Nevada does not have a corporate income tax, personal income tax, franchise tax on income,

inheritance or gift tax, admissions tax, unitary tax or estate tax. It also has competitive sales and property tax rates and a minimal employer payroll tax. Clark County’s economy is dominated by the leisure and hospitality sector, which employs 273,000 people. The ten largest employers are the Clark County School District, Bellagio LLC, Wynn Las Vegas LLC, Clark County, MGM Grand Hotel/ Casino, Mandalay Bay Resort and Casino, The Mirage Casino-Hotel, The University of Nevada-Las Vegas, Las Vegas Metropolitan Police Department and the Rio Suite Hotel & Casino.

Clark County abounds in major residential developments. The largest development is Summerlin, which began in 1990. Summerlin consists of 22,500 acres and 30,000 units. Other large developments include MacDonald Highlands, Mountain’s Edge, Anthem, Lake Las Vegas and Southern Highlands. In recent years, several residential high-rises have been developed, including Turnberry Place, Manhattan, Mantova and Metropolis.

Las Vegas Market Overview BUSINESS FACTS*

Total Employees (2015) 1,056,318

Total Establishments (2015) 84,782

Taxable Sales (2015)** $38,561,567,781

INDUSTRIES BY EMPLOYEES*

Art, Entertainment, Recreation 173,177

Retail Trade 126,303

Healthcare 110,499

Professional, Scientific, Tech 60,432

Construction 52,180

Management, Administration 50,477

Government 47,509

Education 45,151

Real Estate 39,617

Transportation & Warehousing 31,869

Wholesale Trade 28,071

Manufacturing 22,801

Information 21,700

Utilities 4,022

Agriculture & Natural Resources 450

Resource Extraction 285

VISITOR STATISTICS (2015)**

Visitor Volume 42,312,216

Convention Attendance 5,710,303

Gaming Revenue $9,616,463,075

BUSINESS PARKS (SIZE IN SQ. FT.)

Hughes Airport Center 2,974,000

Beltway Business Park 2,823,000

Golden Triangle 2,537,000

Dermody Business Center 2,132,000

Las Vegas Technology Park 1,975,000

Black Mountain Industrial Center 1,746,000

Speedway Commerce Center 1,611,000

Logisticenter 1,560,000

ProLogis Business Park 1,547,000

Hughes Center 1,398,000

McCarran Center 1,197,000

Arrowhead Commerce Center 1,124,000

The Spectrum of Las Vegas 1,063,000

Green Valley Corporate Center 926,000

Conestoga Industrial Area 840,000

The Arroyo (EJM) 743,000

Green Valley Corp. Center South 799,000

Henderson Exec. Airport Center 776,000

Black Mountain Business Park 640,000

Traverse Point Center 570,000

Hughes Cheyenne Center 505,000

* Source: Claritas ** Source: Nevada Dept. of Taxation *** Source: Las Vegas Convention & Visitors Authority

3960 Howard Hughes Parkway, Suite 150Las Vegas, NV 89169

T+1 702 735 5700F +1 702 731 5709

www.colliers.com/lasvegas




PREPARED BY:

±41,676 SF VALUE-ADD THREE-STORY CLASS “B” MEDICAL OFFICE BUILDING ON ±0.70 ACRES 98 E. LAKE MEAD PARKWAY :: HENDERSON, NV 89015

FOR SALE

Documents

FOR SALE ±41,676 SF VALUE-ADD THREE-STORY CLASS “B ... · chris connell +1 702 836 3709. [email protected]. prepared by: ±41,676 sf value-add three-story class “b”