PLACID STREET MULTI-TENANT INDUSTRIAL INVESTMENT OPPORTUNITY BERMUDA ROAD PILOT ROAD ±85,027 Square Feet Las Vegas Airport Sub-Market Exclusive Investment Advisors: 3960 Howard Hughes Parkway, Suite 0 +1 SUSAN 702 836 3728 BORST, CCIM SUSAN CHRIS BORST LANE, CCIM +1 +1 702 702 836 836 3719 3707 +1 702 +1 836 7023728 836 +1 702 372836 3719
THE OFFERING Colliers International is exclusively offering the opportunity to acquire McCarran Commerce Center, a three building, institutionalquality, well-located multi-tenant flex office and industrial park that offers the investors current yield plus upside in vacancy lease-up and rental growth. Currently 91% leased to seven (7) tenants with staggered lease expirations, all of which are rolling into a rising market rent environment. The project offers divisible space that is well-configured and designed, appealing to office and warehouse users serving the Las Vegas market. The property offers light industrial and flex office space, ranging in size from ±3,590 to ±31,500 square feet. Priced well below replacement cost with below market rents and best-in-class construction combine to create an excellent investment opportunity. 385 PILOT 365 PILOT 6720 PLACID ASSET HIGHLIGHTS PROPERTY FEATURES ±85,027 SF of multi-tenant flex office and industrial park in three (3) buildings Unit sizes range from ±3,590 to ±31,500 SF Light Industrial and Flex Office Space High-image business park environment ±5.11 Acre Site LOCATION FEATURES Central Las Vegas location provides easy access and serviceability to all parts of the Valley The Airport Market is a favored service location; neighbors include UPS, FedEx, Konami Gaming, Diebold & Dynamex Minutes to McCarran International, and to I-, I-, and US-/ Business services and convenience retail nearby Business-friendly Nevada ranks as 3rd best business environment Deep, skilled labor pool; relatively low housing costs
PRODUCT TYPE Light Industrial TOTAL SQUARE FEET ±26,360 OFFICE % 40% OCCUPANCY 71% DOCK DOORS 0 GRADE DOORS 4 NUMBER OF TENANTS 3 PRODUCT TYPE Flex Office TOTAL SQUARE FEET ±27,167 OFFICE % % OCCUPANCY 100% DOCK DOORS 0 GRADE DOORS 1 NUMBER OF TENANTS 3 PRODUCT TYPE Light Distribution TOTAL SQUARE FEET ±31,500 OFFICE % 58% OCCUPANCY 100% DOCK DOORS 2 (1) GRADE DOORS 3 NUMBER OF TENANTS 1 (1) Prior to current occupancy, the building had 3 additional dock doors which may be restored.
HUALAPAI WAY FORT APACHE ROAD N DURANGO DRIVE CHARLESTON CAMPUS S RAINBOW BLVD N JONES BLVD N DECATUR BLVD S DECATUR BLVD SIMMONS STREET MARTIN LUTHER KING JR BLVD MARYLAND PARKWAY N 5TH STREET DOMINICAN SIENA CAMPUS ANT LOSSE ROAD N EASTERN AVE CHEYENNE CAMPUS S PECOS ROAD S SANDHILL ROAD N HOLLYWOOD BLVD DOMINICAN W PACIFIC AVE HENDERSON CAMPUS RACETRACK ROAD PAIUTE GOLF RESORT APEX INDUSTRIAL PARK 7 RED ROCK NATIONAL CONSERVATION AREA KYLE RD CLIFF SHADOWS DRIVE SUMMERLIN FOOTHILLS DR RED ROCK BEAR S BEST PROVIDENCE TOWN CENTER DRIVE SEVERENCE LANE DEER S WAY W CHEYENNE AVENUE 160 W ANN ROAD W LONE ROAD W ALEXANDER ROAD DURANGO HILLS SUN CITY HIGHLAND PALM FALLS EAGLE CREST SUNRISE COLONY KYLE GATEWAY SIENA TPC AT S BADLANDS PECCOLE SOUTHERN HILLS W WARM S ROAD THE LAKES RHODES S FORT APACHE RD TPC AT SUMMERLIN W INN ROAD FLAMINGO ROAD TROPICANA AVENUE W ARBY AVE ANGEL PARK GATE S DURANGO DRIVE W CHARLESTON BLVD 5 W SAHARA AVE SAN MARTIN BLUE DIAMOND ROAD GOMER ROAD S EDGE PKWY W CACTUS AVE SHORES S EDGE ELKHORN S SUMMERLIN PARKWAY WESTCLIFF DRIVE WINDMILL LN W WIGWAM AVE SILVERSTONE S N TENAYA WAY PAINTED SPANISH TRAIL NEVADA TRAILS GRAND TETON DRIVE ELKHORN ROAD 5 W SUNSET ROAD S RAINBOW BLVD N RAINBOW BLVD S JONES BLVD N JONES BLVD 599 SMOKE ROAD W LAKE MEAD BLVD W WASHINGTON DRIVE ALTA DRIVE HACIENDA AVE VEGAS DRIVE 9 589 502 5 W RUSSELL ROAD CORONADO IRON LOS PRADOS O ALTA MIRA UNION PACIFIC RR W CACTUS AVE SHINNECOCK HILLS AVE N DECATUR BLVD ANN ROAD CRAIG ROAD NORTH AIRPORT W SILVERADO BLVD N O DR MUNICIPAL RD VIEW ROAD VIEW ROAD SOUTHERN HIGHLANDS UNIVERSITY MEDICAL CENTER DEAN MARTIN DR SOUTHERN HIGHLANDS PARKWAY ALIANTE NORTH BALI HAI 574 TOWN SQUARE EL DORADO O DEL NORTE TROPICANA AVENUE SOUTH BLVD INDUSTRIAL ROAD WARM S ROAD WINDMILL LANE THE STRIP WYNN PARK HIGHLANDS PARADISE RD CAMINO AL NORTE BERMUDA RD 573 MC CARRAN INT L AIRPORT W CENTENNIAL PARKWAY E SAHARA AVE E PEBBLE ROAD St Rose Parkway WASHBURN RD E ST LOUIS AVE MARYLAND PARKWAY HENDERSON EXECUTIVE AIRPORT LOSEE RD. S 146 N BRUCE ST 5 607 FLAMINGO ROAD SEVEN HILLS DR E EVANS AVE 607 S EASTERN AVENUE FREMONT ST E CHEYENNE AVENUE CC UNLV SILVERADO BOULEVARD MALL SHADOW CREEK E RUSSELL ROAD SUNSET PARK BELMONT ST SOUTHFORK N PECOS ROAD PECOS ROAD E INN ROAD UNION PACIFIC RR N BLVD E CAREY AVE E LAKE MEAD BLVD PINES GREEN SUNRIDGE E SUNSET ROAD GREEN PARKWAY S LAMB BLVD CRAIG ROAD LAMB BLVD UPRR 612 VALLE VERDE DR NELLIS BLVD DEL WEBB SUN CITY WEST E OWENS AVENUE E WASHINGTON AVE ROSE 582 McCARRAN COMMERCE CENTER SEVEN HILLS RIO SECCO WILDHORSE LEGACY N ARROYO GRANDE BLVD E BONANZA ROAD WHITNEY NELLIS AFB SUNRISE VISTA STEWART AVENUE E CHARLESTON BLVD ROYAL LINKS VEGAS DRIVE STALLION BOULDER HWY N STEPHANIE STREET AMERICAN PACIFIC DR W HORIZON RIDGE PKWY DRAGON RIDGE E LAKE MEAD BLVD S HOLLYWOOD BLVD GIBSON Rd. 5 BROADBENT BLVD N LOS FELIIZ ST E SUNSET ROAD EASTGATE RD MACDONALD MACDONALD HIGHLANDS MOTOR SPEEDWAY EAST 582 NELLIS AFB E VAN WAGENEN ST 5 PABCO ROAD S WATER ST BLACK GREENWAY RD E PARADISE HILLS DR TUSCANY 564 RICHARDSON DRIVE CENTER ST MISSION DR COLLEGE DR BURKHOLDER BLVD E LAKE MEAD PARKWAY S MAGIC WAY REFLECTION BAY LAKE PKWY THE FALLS HENDERSON EQUESTRIAN DR APPALOOSA RD FOOTHILLS DR LAKE RAILROAD PASS MARKET CONDITIONS Total Las Vegas industrial market is ±121,719,635 SF and is 5.6% vacant compared to 16.3% three years ago. The Airport sub-market totals ±,092,8 SF and is 11.0% vacant compared to 18.3% three years ago. Average rents of $0.73 are below peak rents of $1.20 PSF New competitive industrial supply is limited with no new development underway. TENANCY / FINANCIAL FEATURES 91.02% leased to seven (7) tenants Diverse mix of tenants Staggered lease expirations in a rising rent environment Priced below replacement cost Year 1 NOI at $705,750 Year 1 Cap Rate of 6.75% ANTHEM VOLUNTEER BLVD REVERE DEL WEBB S ANTHEM INSPIRADA
SUITE F VACANT ±6,221 SF SUITE A-B DIAMOND RESORTS ±7,647 SF $0.85 PSF EXP. 3/31/18 SUITE C-E BURKE CONSTRUCTION ±13,299 SF EXP. 7/27/19 MEZZANINE Second Story Mezzanine OPEN TO BELOW UNITED HEALTHCARE SERVICES ±31,500 SF $0.50 PSF EXP. 2/28/17 SUITE D SPENCER TECHNOLOGY CENTER ±9,355 SF $0.58 PSF EXP. 10/31/17 SUITE C VEGAS GAME POINT ±7,632 SF $0.58 PSF EXP. 5/31/18 SUITE B PROJECT WALK ±4,6 SF $0.77 PSF EXP. 10/31/17 SUITE A ENVIROGREEN ±4,680 SF EXP. 2/28/20 SUITE F VACANT ±6,221 SF SUITE C-E BURKE CONSTRUCTION ±13,299 SF EXP. 7/27/19 SUITE A-B DIAMOND RESORTS ±7,647 SF $0.85 PSF EXP. 3/31/18 MEZZANINE OPEN TO BELOW PILOT ROAD PLACID STREET D C B A F C-E A-B BERMUDA ROAD