On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3

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On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
T H E G AT E W AY
         on the Strip

2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 —   Now Accepting Offers to Purchase
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
TA B L E O F C O N T E N T S

04     Investment Summary

08     Property Overview

11     Investment Highlights

12     About the Property

18     Area Overview

23     Sale Comparables

24     Market Overview
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
© 2021 Colliers International

This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of the Fee Simple
interest in 2427 Las Vegas Boulevard, Las Vegas, Nevada 89104 (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the
recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered
to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby.

The material contained in this Memorandum is provided solely to assist the Recipient in potential purchase of the Property. Neither the Agent nor any affiliates or client of the Agent which term
includes related entities, the owners of any equity interest in the Property, (“Owner”), the manager of the Property (“Manager”), and any officers, employees and agents of any such parties make any
representations or warranties with regard to the accuracy or completeness of the information contained herein. This Memorandum may include statements and estimates provided by the Agent,
the Owner, or the Manager with respect to the anticipated future performance of the Property. Nothing contained in this Memorandum should be construed as a representation as to the future
performance of the Property, and the Recipient acknowledges and agrees that any statements or estimates relating to future performance reflect various assumptions concerning the Property’s
anticipated results, which may or may not prove to be correct. No representations are made as to the accuracy of such statements and estimates, and none of the Agent, the Owner, the Manager,
or any related entities shall have any liability with respect to or arising from any inaccuracy in such statements or estimates. Statements made in this Memorandum as to the content of any contract
or other document referred to, are not complete or definitive descriptions, but summaries or portions thereof. Each such statement is qualified by its reference to the full text of the contract or
document, copies of which will be made available by the Agent to Recipient upon request. In addition, not all contracts or other documents, which may be relevant, have been summarized or
referenced in this Memorandum. This Memorandum is being delivered by the Agent to a prospective purchaser with the understanding that it will independently investigate those matters which it
deems appropriate in evaluating the Property and will rely solely on its own investigation in determining whether to purchase the Property.

This Memorandum does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property in any jurisdiction in which, or to any person for which, such offer, sale, or solicitation
would be unlawful. Except where otherwise indicated, the information contained in this Memorandum has been prepared as and no obligation is assumed to supplement or modify the information to
reflect subsequent events or conditions. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to a Recipient concerning the Property or purchase of the Property.

More detailed information regarding the expected terms, conditions, and timing of the offering of the Property will be provided in due course by separate communication with each Recipient. The
Agent, the Owner and the Manager reserve the right to engage in discussions or negotiations with one or more recipients or other prospective investors at any time without notification to, or other
obligation to, any other Recipient or prospective investor. The offering made hereby is subject to a change in terms or termination without notice. The Owner and the Manager will remain free to
operate the Property in their sole and absolute discretion during the evaluation and offering process, including the taking of such actions, whether within or outside of the ordinary course of business,
which the Owner or the Manager shall deem necessary, prudent or desirable.

The Agent reserves the right to require the return of this Memorandum and any other material provided to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes
acceptance of the terms and conditions outlined above.

Chris Clifford                                  Steve Neiger, CCIM                              Brett Rather
+1 702 277 0390                                 +1 702 592 7187                                 +1 702 575 1645
chris.clifford@colliers.com                     steve.neiger@colliers.com                       brett.rather@colliers.com
License # NV-S.0067842.PC                       License # NV-S.0078706.LLC                      License # NV-S.0174245.LLC
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
T HE GATEWAY TO A
NEW DOWNTOWN.
2427 S. Las Vegas Boulevard, Las Vegas, NV 89104
LAS VEG
  AS BOULE
          AV RD

                                                            VENUE
                                                       AAR A
                                                   SAH
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
INVESTMENT SUMMARY
Introducing a once-in-a-lifetime opportunity to own the hard
corner of an intersection on the world-famous Las Vegas Strip.

As exceptional as it is rare, this opportunity includes institutional-
grade income from its anchor, a ±17,329 square foot Walgreens
and a significant value-add component, at just 42% occupied.

±37,499 square foot building on
Las Vegas Boulevard
                                                            Colliers International   05
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
T H E G AT E W AY
      on the Strip

                           V   RD
            A   S B O U L EA
LA   S V EG

                                    SAHARA AVENUE
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
INVESTMENT SUMMARY                                   This ±1.82 acre parcel also
                                                     includes a freestanding parking
                                                     garage, additional income via
Purchase Price:            B E ST O F F E R          electronic billboard contracts,
                                                     a large upper deck patio, and
Year 1 Net                                           one of the most valuable
Operating Income:
                           $ 2 ,4 6 9 ,0 0 0 .0 0
                                                     privilege licenses in the world, an
Year 3 Pro Forma                                     unrestricted gaming license,
Net Operating Income:
                           $ 3 ,5 1 2 ,0 0 0 .0 0
                                                     for a defined area within the
                                                     existing vacant space.
Occupancy:                 42%

Total Square Footage:      3 7 ,4 9 9 S F *

Square Footage Occupied:   1 7 ,3 2 9 S F           * ±37,499 SF
                                                      includes ±2,023 SF
Square Footage Vacant:     2 0 ,1 7 0 S F             of mezzanine space

Parking Ratio:             4 .2 4 : 1, 0 0 0

                                                                 Colliers International   07
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
Located on                                         Las Vegas Boulevard

                                                                                                   T H E G AT E W AY
                                                                      LAS
                                                                            VEG                          on the Strip
                                                                                  AS
                                                                                       BOU
                                                                                          LEV
                                                                                             ARD

                                                                    NUE
                                                              A AVE
                                                         SAHAR

08   The Gateway on the Strip — 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
PROPERTY OVERVIEW

   LOCATION                                        PARKING
   Hard Northeast Corner of Sahara Ave.            Parking Garage: 132 stalls
   and Las Vegas Blvd. (The Strip)                 including 4 handicap
   Las Vegas, Nevada
                                                   Surface Parking: 27 stalls,
                                                   including 3 handicap
   ACCESS
   Sahara Ave: Ingress & Egress
                                                   PARCEL
   Las Vegas Blvd: Ingress & Egress
                                                   APN: 162-03-422-001
                                                   ±1.82 Acres, ±79,279 Square Feet
   TRAFFIC COUNTS
   Total: 106,500 cars per day
                                                   YEAR BUILT
   (Sahara Ave: 70,500, Las Vegas Blvd.: 36,000)
                                                   2015

   IMPROVEMENTS
                                                   ZONING
   ±37,499 square foot building and a
                                                   General Commercial District (C-2)
   132 stall parking garage on ±1.82 Acres

                                                                             Colliers International   09
On the Strip - 2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 - Now Accepting Offers to Purchase - Amazon S3
INVESTMENT HIGHLIGHTS

     42% OCCUPIED | INSTITUTIONAL GRADE INCOME WITH VALUE-ADD COMPONENT

     • Anchored by Walgreens on a long-term lease (through April, 2040).

     • Tremendous value-add potential with several vacancies to be leased.

     SIGNALIZED, HARD-CORNER INTERSECTION | LARGE ELECTRONIC BILLBOARD |
     ON WORLD-FAMOUS STRIP

     • Parcel is the hard Northeast corner of the Las Vegas Strip intersection at Sahara Avenue, withnessing
       over 106,000 cars per day.

     • Large electronic billboard provides phenomenal exposure as well as an additional stream of income.

     • A patio with a view – second floor space includes a large wraparound patio that overlooks
       Las Vegas Boulevard.

10   The Gateway on the Strip — 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104
UNIQUE ASSETS WITHIN PROPERTY | MULTIPLE ASPECTS OF APPRECIATION

• A freestanding parking garage on the Las Vegas Strip in immediate proximity to major new
  attractions, such as the new City of Las Vegas Archway.

• An unrestricted gaming license for portions of the second floor of the vacant space.

• Huge growth potential in both size and revenue with the exterior electronic billboard.

LONG-TERM GROWTH TRAJECTORY | IRREPLACEABLE REAL ESTATE | HUNDREDS OF
MILLIONS IN INVESTMENT

• 80-foot City of Las Vegas Archway (finished November, 2020) to bring thousands of new pedestrians
  to intersection every day.

• $125 million in roadway improvements (currently underway) on Las Vegas Blvd. at Sahara
  proceeding north.

• Request For Proposal out for several pedestrian bridges to be constructed at intersection.

                                                                                       Colliers International   11
ABOUT THE
PROPERTY
2427 S. Las Vegas Boulevard, Las Vegas, NV 89104
THE MOST CONVENIENT, ACCESSIBLE,
FREESTANDING GARAGE ON THE LAS VEGAS STRIP!

  This is the one opportunity to get in on the ground floor (and second floor) of a resurgence on the most
                                        famous boulevard in the world.
F I R ST F LO O R

SUITE 110                                                    STAIRS

±2,156 SF
plus an additional            MAIN           SUITE 110
±1,163 SF mezzanine space   ENTRANCE

SUITE 120                                                                    Mezzanine Space

±2,829 SF                              SUITE 120
plus an additional                                                           SUITE 110
                                                                             mezzanine

±860 SF mezzanine space

                                                                              SUITE 120
                                                                              mezzanine

ABOUT THE VACANCIES                                      Not To Scale. For Illustration Purposes Only.
S ECO N D F LO O R

JUNIOR ANCHOR SPACE
±13,162 SF
with an additional ±1,603 SF of patio;
includes elevator and escalator access.
Grandfathered Unrestricted Gaming License Suitability
(for a portion of the second floor).
                                                        Patio Area
                                                        ±1,603 SF

                                                                     SECOND FLOOR

                                                                             Colliers International   15
ANCHOR TENANT PROFILE
Walgreen Co. is the second-largest pharmacy store chain in the U.S., operating
some 9,560 mostly freestanding Walgreens stores in all 50 US states, the District
of Columbia, the Virgin Islands, and Puerto Rico. Walgreen Co. is the brand face
of Walgreens Boots Alliance, a company with a worldwide reach. For the US
subsidiary, prescription drugs account for about 70% of sales; the rest comes
from general merchandise, over-the-counter medications, cosmetics, and
groceries. Most Walgreens stores offer drive-through pharmacies and one-hour
photo processing. Walgreen acquired the Swiss-based Alliance Boots to form
Walgreens Boots Alliance in 2014.

   2 ND Largest                     9,560                     Ranked 19th
Pharmacy Store Chain in       Walgreens Pharmacies         Walgreens Boot Alliance
     United States                                         in Fortune Global 500

                                                                      Colliers International   17
AERIAL OVERVIEW
Now Accepting Offers to Purchase
2427 S. Las Vegas Boulevard, Las Vegas, NV 89104

                                                   SITE

                                                     Colliers International   19
AREA OVERVIEW

 2020 Renovations

              THE STRAT         ROADWAY IMPROVEMENTS
              $140 million      $125 Million of roadway
              in renovations    improvements underway on
                                Las Vegas Boulevard from
                                Sahara Avenue north

              THE SAHARA        THE CITY OF LAS VEGAS
              $100 million      80 feet archway constructed
              in improvements

ABOUT THE LOCALE
2021 and Beyond

          LAS VEGAS                             RESORTS WORLD
          CONVENTION CENTER                     The grand opening of
          Las Vegas Convention Center           Resorts World in 2021
          opening it’s front doors at
          Las Vegas Boulevard

                                         T H E G AT E W AY
          PEDESTRIAN BRIDGES
          Brand new pedestrian bridges
          planned at Sahara Avenue and
          Las Vegas Boulevard                  on the Strip

                                                        Colliers International   21
T H E G AT E W AY
      on the Strip

                     SITE
SALE COMPARABLES
Walgreens Strip – Income Comp                World’s Largest Souvenir Shop – Land Comp
Address: 3765 S. Las Vegas Blvd, Las Vegas   Address: 2400 S Las Vegas Blvd., Las Vegas
Price: $38,000,000                           Price: $50,000,000
Sale Date: Dec, 2019                         Sale Date: Oct., 2016
Cap Rate: 5.23%                              Cap Rate: NA
Building SF: 14,688                          Building SF: 35,555 SF
Land Size: 0.39 Acres                        Land Size: 1.99 acres
Rent PSF: $135                               Rent PSF: unknown
Price PSF: $2,587.00                         Price PSF: 1,406.27

Walgreens Miami – Income Comp
Address: 509 Collins Ave., Miami FL
Price: $33,050,000
Sale Date: Aug, 2019
Cap Rate: 4.9%
Building SF: 22,875
Land Size: 0.35 Acres
Rent PSF: $71
Price PSF: $1,445

                                                                                          Colliers International   23
L AS VEGAS
MARKET OVERVIEW
Las Vegas
                                                          #1 Trade Show Destination for 25
                                                          consecutive years
                                                          -Trade Show News Network
#3 and #9 Largest
Convention Centers in the U.S. are located in Las Vegas   Convention Centers
                                                          While Las Vegas has historically been known as a gaming destination, the city’s
                                                          diverse non-gaming allure continues to strengthen and has far surpassed gambling
70,700 jobs and generates more than                       demand. One such demand driver is the unparalleled convention and meeting
                                                          space capacity available throughout the city. In 2018, Las Vegas held over 21,000
$11.1 billion in economic impact.                         conventions and hosted over 6.5 million convention delegates.
The Las Vegas M.I.C.E .
(meetings, incentives, conferences, and events) sector    Las Vegas also hosted 3 of the top 10 and 6 of the top fifteen largest
                                                          conventions/trade shows held in the U.S.

Las Vegas visitation numbers hit a new peak
of 42.9M visitors in 2016, a 10% increase
over its pre-recession peak.

There was a 17.8 increase in International
visitation from 2013-2015. McCarran
International Airport has benefited from
the increased visitation, making it the No.
30 busiest airport in the world in 2018.
LAS VEGAS AREA OVERVIEW
Clark County, the most populous of Nevada’s 17 counties, is home to more than 2.3 million residents,
about 75.8% of the state’s population. The estimated median household income is approximately $57,189.
The city of Las Vegas sits at the heart of Clark County and is internationally renowned as the world capital
of entertainment. Las Vegas’ gaming, dining, shopping and business conventions are major attractions for
national and international visitors. Las Vegas has approximately 149,158 hotel rooms.

LAS VEGAS ECONOMIC TRENDS
(Las Vegas Convention and Visitors Authority)

 Statistic                      2014            2015         2016         2017         2018

 Visitor Volume                 41,126,512      42,312,216   42,936,109   42,208,100   42,116,800

 Gaming Revenue                 $9.5bn          $9.6bn       $9.7bn       $10.8bn      $10.25bn

 Room Occupancy                 86.8%           87.7%        89.1%        88.6%        88.2%

 Average Daily Room Rates       $116.73         $120.67      $125.96      $129.05      $128.85

 Convention Delegates           5,169,054       5,761,366    6,310,616    7,259,100    6,501,800
                                                                                                      Over 42.1 million
                                                                                                    people visited Las Vegas in 2018.
 Total En/Deplaned Passengers   42,878,346      45,389,074   47,435,640   48,500,194   49,716,584

 Room Inventory                 150,126         149,612      149,339      147,268      149,158
NHL Expansion                                   The Las Vegas Raiders                                           20,000 Seats
T-Mobile Arena hosts over 150 events per year              The relocation of the Oakland Raiders           T-Mobile Arena, a multi-use indoor arena on the Las
       and is the current home of the                is anticipated to create a $600+ million economic              Vegas Strip opened in April 2016
         NHL Vegas Golden Knights                   impact add 450,000+ incremental visitors and host
                                                                     45+ events annually

                                                                 Mandalay Bay
          LVCC Expansion
                                                               Convention Center                                             $1 billion public
         Las Vegas Convention Center
 is currently undergoing a $2.5 billion, 600,000    recently underwent a 350,000 square foot expansion                        works project
square foot expansion to absorb excess demand          and is now one of the largest in North America                  underway to modernize and expand
                                                                                                                        Las Vegas vehicular infrastructure

                                                                 Steady Growth                                                 MSG Sphere
                                                   The University continues to grow with a total student          A revolutionary new 18,000-seat venue for
       Las Vegas Ballpark                                       headcount of 30,457 (2018)                      concerts, sports and live entertainment that will be
hosts this Triple-A professional baseball team                                                                                 completed in 2020.
                 in Summerlin

LAS VEGAS HIGHLIGHTS                                                                                                                   Colliers International          27
Irreplaceable intersection-corner real estate on the most   T H E G AT E W AY
famous street in the world. Treasured grandfathered
unrestricted gaming license. A monetized LED billboard on
                                                                  on the Strip
the Las Vegas Strip with tremendous revenue and value-
add potential. Rare unregulated parking garage on Las
Vegas Boulevard. The future owner will be buying a
property based upon Walgreens’ guaranteed
income for the next nineteen years, in a
building that is only 42% occupied. Both
short term and long term, this may
be the best value-add investment
opportunity Las Vegas Boulevard
has ever seen.

Please contact us to further discuss:

Chris Clifford
+1 702 277 0390
chris.clifford@colliers.com
License # NV-S.0067842.PC

Steve Neiger, CCIM
+1 702 592 7187
steve.neiger@colliers.com
License # NV-S.0078706.LLC

Brett Rather
+1 702 575 1645
brett.rather@colliers.com
License # NV-S.0174245.LLC
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