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presented by:

TED BAKERVice [email protected]

OFFERING MEMORANDUM

FOR SA LE

This Offering Memorandum contains select information pertaining to the business and affairs of 7980 W. Sahara Ave, Las Vegas 89117. This Memorandum was prepared based on information supplied by Seller and Broker. It contains selected information about the Property and the real estate market, but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein (or in any other Confidential Information) are for general reference only. The projections are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents.

The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Logic Commercial Real Estate (LCRE). The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Seller, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. While the information contained in the Memorandum and any other Confidential Information is believed to be reliable, neither Broker nor Seller guarantees its accuracy or completeness. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Confidential Information. Although additional Confidential Information which may include engineering, environmental or other reports may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers, environmental and other experts.

CONFIDENTIALITY AGREEMENT

By acknowledging your receipt of this Offering Memorandum from LCRE, you agree:1. The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this

Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Seller and LCRE expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or LCRE or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this

Offering Memorandum.

LCRE has a policy of proactive broker cooperation with the investment brokerage community. If applicable, a cooperating broker fee of the sales price shall be paid at closing to cooperating broker that procures and represents the buyer that acquires this property. If applicable, cooperation does not include brokers that represent themselves as Principals or broker’s whose member of his immediate family is participating in the purchase of the property. No broker will be recognized on a prospect that has previously contacted or been contacted by the Seller or the Seller’s representatives.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENTS FOR MORE DETAILS.

CONTENTS

TED BAKERVice [email protected]

EXECUTIVE SUMMARY

MAPS, AERIALS, AND PLANS

LEASE TERM

MARKET OVERVIEW

BILL SKUPADirector of Capital [email protected]

16

1114

BROKERAGE CAPITAL MARKETS

EXECUTIVE SUMMARY


LEASE TERM

MARKET OVERVIEW

1

2

The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereofThe information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate

makes no guarantees, warranties or representation as to the completeness or accuracy thereof.

EXECUTIVE SUMMARY 2

PROPERTY OVERVIEWLogic Commercial Real Estate is pleased to exclusively represent the owner and present the opportunity to purchase City Athletic Club (CAC), the only local health and fitness club to receive the prestigious Conde’ Nast Five Star distinction.

The asset consists of a +/- 42,355 SF single-tenant net leased offering surrounded by 360 degrees of residential density boasting some of the top household incomes in the valley. Situated along the well-traveled West Sahara Ave. (State Hwy 589) just West of Buffalo Dr. with traffic counts of more than 58K CPD, neighboring Canyon Gate Country Club in addition to many retail and office complexes. The subject site includes 3% annual increases and potential “value-add” opportunity with restaurant

build (agreement in principal with tenant) on the southwest end of the building fronting Sahara Ave. and offering an open patio concept. CAC is owned and operated by 4-time heavyweight body builder Jea Jung; opening his first and only valley location in 2011. Since that time, CAC has created a loyal following with affluent and serious fitness aficionados. The facility consists of two floors of weights, machines, and cardio equipment, 25 meter lap pool, and MMA cage for professional training. CAC also offers classes such as Zumba, yoga, spinning, hip hop dance, and boot camp classes. With options for every level of experience and luxurious amenities, CAC provides an exceptional gym experience.



3EXECUTIVE SUMMARY

OFFERING DETAILS

3

Address: 7980 W. Sahara Ave., Las Vegas, NV 89117

Offering Price: $7,750,000

NOI: $504,000 Yr 1

Cap Rate: 6.5%

Building Size: 42,355 SF

Acreage: 3.94 AC

Occupancy: 100%

Terms: Cash to Seller

APN: 163-04-805-008

Parking: 5: 1,000 (215 Stalls)

Traffic Counts: W. Sahara Ave. 29,000 CPDDurango Blvd. 29,000 CPD

Building Signage: Pylon and building signage available

Year Built: 2000

Zoning / Jurisdiction: C-1 (Limited Commercial) / City of Las Vegas

Number of Tenants: Single Tenant

4



� New, 10 year lease with established operator

� 3% annual increases

� Internet resistant use

� Potential upside to NOI with addition of restaurant fronting W. Sahara Ave.

� Extraordinary demographics and traffic counts

� Favorable trade area demographics

� Established and strong member base

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY 4



5TENANT PROFILES - EXECUTIVE SUMMARY 5

CITY ATHLETIC CLUB LAS VEGASThe only Las Vegas health club to receive the prestigious Condé Nast Five Star distinction, City Athletic Club is redefining the workout experience and quickly becoming the hottest fitness destination in Sin City. Conceptualized by internationally acclaimed gym developer Jea Jung, his projects are trademarked by luxurious amenities, stunning décor, and cutting edge equipment.

Attracting and winning over the most discriminating gym enthusiast – and assembling the most elite team of personal trainers on the planet – CAC pulses with an energy that is both exciting and addictive. With a limited member approach, City Athletic Club adjusts new enrollment efforts in order to preserve what creates an exceptional gym experience.

Total Square Footage: 42,355 SF

Lease Commencement: 08/03/2016

Lease Expiration: 08/03/2026

Company Website: http://www.cityathleticclub.com/

Social Media: https://www.facebook.com/CITYATH/

EXECUTIVE SUMMARY


LEASE TERM

MARKET OVERVIEW

6

The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof

The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof.

7OVERALL MAP - MAPS, AERIALS, AND PLANS

7980 W. SAHARA AVE.



8AERIAL - MAPS, AERIALS, AND PLANS

Over 125 Retailers + RestaurantsSUMMERLIN MALL

RED ROCKHOTEL & CASINO

THE LAKES

BONANZAHIGH SCHOOL

CANYON GATECOUNTRY CLUB

W. CHARLESTON BLVD. // 48,000 CPD

S. H

UALA

PAI W

AY. /

/ 19,

000

CPD

W. SAHARA AVE. // 29,000 CPD

S. D

UR

AN

GO

DR

. // 2

9,00

0 C

PD

S. R

AIN

BO

W B

LVD

. // 5

8,00

0 C

PD

S. D

ECAT

UR

BLV

D. /

/ 45,

000

CPD

215

// 7

9,00

0 C

PD

SUMMERLIN PKWY. // 103,000 CPD

SUBJECT



9CLOSE UP AERIAL - MAPS, AERIALS, AND PLANS

W. SAHARA AVE. // 29,000 CPD

NAP



10SITE PLAN - MAPS, AERIALS, AND PLANS

NAP NAP

SAH

ARA

AVE

.

POTENTIALRESTAURANT

SPACE

11EXECUTIVE SUMMARY


LEASE TERM

MARKET OVERVIEW

12



Tenant Name Floor SFBldg Share

Rate & Amountper Year

per MonthTerms Monthly Annually

City Athletic Club 42,355 SF100%

$11.40 SF/Yr$504,000/Yr$42,000/Mo

Yr 1 42,000 504,000

Yr 2 43,260 519,120

Yr 3 44,557.80 534,693.60

Yr 4 45,894.53 550,734.36

Yr 5 47,271.37 567,256.44

Yr 6 48,689.51 584,274.12

Yr 7 50,150.20 601,802.40

Yr 8 51,654.70 619,856.43

Yr 9 53,204.34 638,452.08

Yr 10 54,800.47 657,605.64

LEASE TERM 12



13AVAILABLE FINANCING

LOGIC Capital Markets is a preferred funding source for investors, developers and operators of commercial real estate. Our loan brokerage service & origination platform provide our clients access to the market’s wide range of competitive products for all property types. Through our relationships which include banks, conduits, life companies, mortgage funds, and hard money lenders, we are able to offer debt and equity financing for the purpose of acquisition, development, refinance, buyouts, and more.

C A P I T A L M A R K E T S

BILL SKUPADirector of Capital Markets

[email protected]

NMLS #1498008NV LIC #56532

CA BRE #02035064

C O N TA C T U S

PROPOSED NEW FINANCING

Loan To Value Up to 70%

Approximate Interest Rate +/- 4.5%

Amortization Up to 30 years


LEASE TERM

MARKET OVERVIEW14EXECUTIVE SUMMARY



15

POPULATION 1-mile 3-mile 5-mile

2016 Estimated Population 17,434 173,343 466,098

2021 Projected Population 18,788 183,897 497,050

2010 Census Population 16,152 164,975 440,809

Annual Growth 2010 - 2016 1.23% 0.79% 0.90%

Annual Growth 2016 - 2021 1.51% 1.19% 1.29%

INCOME 1-mile 3-mile 5-mile

2016 Average Household Income $78,632 $68,381 $69,323

2021 Projected Average Household Income $86,292 $75,145 $76,222

2016 Estimated Per Capita Income $32,757 $27,077 $27,305

2021 Estimated Per Capita Income $35,691 $29,522 $29,745

HOUSEHOLDS 1-mile 3-mile 5-mile

2016 Total Households 7,279 67,193 180,593

2021 Estimated Total Households 7,798 70,875 191,302

2010 Census Total Households 6,812 64,631 173,043

HOUSING 1-mile 3-mile 5-mile

2016 Total Housing Units 8,161 76,035 208,179

2016 Owner Occupied Housing Units 3,347 34,788 86,812

2016 Renter Occupied Housing Units 3,932 32,405 93,781

2021 Estimated Total Housing Units 8,611 80,149 220,537

2021 Estimated Owner Occupied Housing Units 3,544 36,428 91,618

2021 Estimated Renter Occupied Housing Units 4,254 34,447 99,684

RADIUS MAP

DEMOGRAPHICS

16



LAS VEGAS - MARKET OVERVIEW

The Las Vegas Strip is a stretch of South Las Vegas Boulevard in Clark County, Nevada, known for its concentration of resort hotels and casinos. The Strip is approximately 4.2 miles (6.8 km) in length, located immediately south of the Las Vegas city limits in the unincorporated towns of Paradise and Winchester. However, the Strip is often referred to as being in Las Vegas. Most of the Strip has been designated an All-American Road, and is considered a scenic route at night. Many of the largest hotel, casino, and resort properties in the world are located on the Las Vegas Strip. Fourteen of the world's 25 largest hotels by room count are on the Strip, with a total of over 62,000 rooms.

One of the most visible aspects of Las Vegas' cityscape is its use of dramatic architecture and lights. The rapidly evolving skyline and constant modernization of hotels, casinos, restaurants, residential high-rises, and entertainment offerings on the Strip, have established it as one of the most popular destinations for tourists in the United States, and the world.

Historically, the casinos that were not in Downtown Las Vegas along Fremont Street were limited to outside of the city limits on Las Vegas Boulevard. In 1959 the Welcome to Fabulous Las Vegas sign was constructed exactly 4.5 miles (7.2 km) outside of the city limits. The sign is today about 0.4 miles (0.64 km) south of the southernmost entrance to Mandalay Bay (the southernmost casino).

In the strictest sense, “the Strip” refers only to the stretch of Las Vegas Boulevard that is roughly between Sahara Avenue and Russell Road, a distance of 4.2 miles (6.8 km). However, the term is often used to refer not only to the road but also to the various casinos and resorts that line the road, and even to properties that are not on the road but in proximity. Phrases such as Strip Area, Resort Corridor or Resort District are sometimes used to indicate a larger geographical area, including properties 1 mile (1.6 km) or more away from Las Vegas Boulevard, such as the Hard Rock Hotel & Casino, Rio All Suite Hotel and Casino, Palms Casino Resort and Hooters Casino Hotel.

THE LAS VEGAS STRIP

Clark County 2016Gaming Revenue

$9.7B2016

Room Inventory

149,339

2016Conventions Per Year

21,864

2016Hotel Occupancy

89.8%

Las Vegas Strip 2016 Revenue

$6.3B

2016Employment Growth

3.1%

16

Source: Las Vegas Convention and Visitors Authority



17

BEAR’S BEST GOLF COURSEBear’s Best Las Vegas is an upscale, daily fee public Las Vegas golf course offering a world-class private club experience in a public facility focused on corporate entertaining, golf outings, and other private events. To create this masterpiece of a Jack Nicklaus golf course, Jack Nicklaus himself hand selected 18 holes from his more than 200 phenomenal course designs worldwide, encompassing all of his favorites into one extraordinary round of golf.

SUMMERLIN MASTER PLANNED COMMUNITYSummerlin is an affluent master-planned community in the Las Vegas Valley of Nevada. It lies at the edge of the Spring Mountains and Red Rock Canyon, on the western periphery of Las Vegas, Nevada in unincorporated Clark County. The community occupies 22,500 acres and includes a variety of land uses, including: residential, commercial, recreational, educational, medical, open space, and cultural. At the 2010 census, Summerlin’s population was nearly 100,000, having risen from 59,000 in 2000. With an average annual household income of $139,061, Summerlin is among the most affluent communities in Nevada. In 2014, Summerlin was named one of the “Best Places to Live in America” by Money.

RED ROCK CANYONRed Rock Canyon was designated as Nevada’s first National Conservation Area. Red Rock Canyon is located 17 miles west of the Las Vegas Strip on Charleston Boulevard/State Route 159. The area is visited by more than two million people each year. In marked contrast to a town geared to entertainment and gaming, Red Rock offers enticements of a different nature including a 13-mile scenic drive, miles of hiking trails, rock climbing, horseback riding, mountain biking, road biking, picnic areas, nature observing and visitor center with indoor and outdoor exhibits.

THE RIDGESThe Ridges village in Summerlin was conceived in 2000 as an exclusive, guard-gated luxury community that would include custom and semi-custom homes built on 793 acres, and be at the master-planned development’s far western boundary. The Ridges is home to seven custom neighborhoods and four high-end production home neighborhoods. Two custom neighborhoods and one high-end production neighborhood are left to develop in the Summerlin luxury community.

SUMMERLIN - MARKET OVERVIEW

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DOWNTOWN SUMMERLINDowntown Summerlin, one of the premier regional mixed-use development sites in the U.S., is part of the urban core which will serve the entire Las Vegas Valley with over 125 shops and restaurants in an open-air shopping environment. The 106-acre, 1.6 million SF mixed-use development along the Clark County 215 Beltway is located only 15 minutes from the Las Vegas Strip and Airport. Downtown Summerlin includes retail, office and entertainment, designed to create a vibrant, walkable downtown in the heart of the affluent 22,500-acre master planned community. With over 100,000 residents today, the ever-increasing population in the Summerlin master planned community is expected to double to 200,000 when completed.

SUMMERLIN - MARKET OVERVIEWTHE SUMMITThe Summit is a private, luxury gated golf community located on 555 acres of scenic, secluded land within Summerlin, Las Vegas’ premier master planned community. The Summit will feature an 18-hole Tom Fazio-designed course and is located just 9 miles from the Las Vegas strip and is surrounded by world-class lifestyle and entertainment opportunities. The Summit Club is a joint venture between Discovery Land Company and the Howard Hughes Corporation, the developer of the Summerlin master-planned community.

RED ROCK RESORTRed Rock Resort is a hotel and casino. It is owned and operated by Station Casinos on 70 acres located in Downtown Summerlin in the village of Summerlin Centre in Summerlin, Nevada. Located on Charleston Boulevard, at the interchange of Clark County 215 and some distance from the Las Vegas Strip, the resort is known as a locals casino. It is the flagship property of Station Casinos and the company’s corporate headquarters is located on the property.

TIVOLI VILLAGETivoli Village is a mixed-use development center consisting of retail, restaurant, and office space and is home to Las Vegas’s only Restoration Hardware. The property is located on 28.43 acres of land at 410 South Rampart Boulevard in Las Vegas, Nevada, next to the Summerlin community.



19

TOURISMThe major attractions in Las Vegas are the casinos and the hotels, although in recent years other new attractions have begun to emerge.

Most casinos in the downtown area are located on the Fremont Street Experience, The Stratosphere being one of the exceptions. Fremont East, adjacent to the Fremont Street Experience, was granted variances to allow bars to be closer together, similar to the Gaslamp Quarter of San Diego, the goal being to attract a different demographic than the Strip attracts.

2016 Convention Attendees

6.3MMTotal Visitors in 2016

42.9MM*

*Record high

T-MOBILE ARENAT-Mobile Arena is a multi-use indoor arena on the Las Vegas Strip in Paradise, Nevada. Opened on April 6, 2016, the arena is a joint venture between MGM Resorts International and the Anschutz Entertainment Group. The arena will be the home of the Vegas Golden Knights of the National Hockey League that will begin play in 2017. Since its opening, T-Mobile Arena has primarily been used for entertainment events such as concerts, and has been booked for one-off combat sports events, and other annual sporting events The arena is accessed by a new development project known as The Park, with retail and dining space between New York-New York and the Monte Carlo casino hotels.


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THE LAS VEGAS RAIDERSA domed stadium is to be built in Paradise, Nevada for the Las Vegas Raiders of the National Football League (NFL) and the UNLV Rebels football team from the University of Nevada, Las Vegas (UNLV). Construction of the stadium is planned to begin in 2017 and be completed in time for the 2020 NFL season. The state of Nevada approved $750 million for a new stadium. Raiders owner Mark Davis pledged $500 million toward the project, and a report from the Southern Nevada Tourism Infrastructure Committee estimates the total stadium cost to be $1.9 billion.

THE LAS VEGAS GOLDEN KNIGHTSThe Vegas Golden Knights are a professional ice hockey team that will be based in the Las Vegas metropolitan area. The team is scheduled to begin play in the 2017–18 NHL season, and will be a member of the Pacific Division of the Western Conference of the National Hockey League (NHL). The team is owned by Black Knight Sports & Entertainment, a consortium led by Bill Foley, and will play its home games at T-Mobile Arena on the Las Vegas Strip in Paradise, Nevada. Summerlin practice facility is located approximately 2.5-miles from subject site.




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AIRPORTSMcCarran International Airport is the primary commercial airport serving the Las Vegas Valley, a major metropolitan area in the U.S. state of Nevada. McCarran received a total of 47,435,640 en/deplaned passengers in 2016, a 4.5% increase over the previous year but still below pre-recession levels. It is the 26th busiest airport in the world by passenger traffic and the 8th busiest by aircraft movements.

The airport consists of four runways and two passenger terminals: Terminal 1 and Terminal 3. Terminal 1 is composed of four concourses, namely the A, B, C, and D Gates; Terminal 3 contains the E Gates. A people mover system is in place between the pre-security area of Terminal 1 and the C and D Gates, as well as between the D Gates and Terminal 3.

Source: Las Vegas Convention and Visitors Authority

Lowest Corporate Travel Cost in Western US

1stTotal Aircraft Movements

8th Busiest

National Passenger Traffic

9th Busiest

2016 Total En/DeplanedAir Passengers

47.4MMTotal En/DeplanedPassengers in 2016

4.5%International Passenger Traffic

26th Busiest




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PROPERTY MANAGEMENTLOGIC Property Management team members are tenured professionals with a comprehensive knowledge and understanding of commercial real estate management. We methodically approach each assignment with customized management strategies that meet the client’s needs, maintain the property’s physical plant, and effectively service tenants.

We know our priority is to cooperate with our tenants by working intelligently to reduce expenses and to serve our owner-clients by identifying creative ways to drive income. We provide for accountability in every step we take, from management to accounting. Logic Property Management will pinpoint a client’s goals and objectives, meet challenges, and achieve expected results from your investment.

Contact:LAUREN VANISKIDirector of Property [email protected]

We provide a host of services to our clients that include Property Management and Capital Markets.

ADDITIONAL SERVICES

CAPITAL MARKETSLOGIC Capital Markets is a preferred funding source for investors, developers and operators of commercial real estate. Our loan brokerage service & origination platform provide our clients access to the market’s wide range of competitive products for all property types. Through our relationships which include banks, conduits, life companies, mortgage funds, and hard money lenders, we are able to offer debt and equity financing for the purpose of acquisition, development, refinance, buyouts, and more.

Contact:BILL SKUPADirector of Capital [email protected]

presented by:

TED BAKERVice President702.954.4139

[email protected]

LOGIC COMMERCIAL REAL ESTATE | 3900 S. Hualapai Way, Suite 200, Las Vegas, Nevada 89147 | 702.888.3500The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof.

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