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The Crown Jewel of Las Vegas Chinatown
EXECUTIVE SUMMARY
MAPS, AERIALS & PLANS
MARKET OVERVIEW
CONTACT
The Crown Jewel of Las Vegas Chinatown
PROPERTY OVERVIEW
What makes Chinatown one of the most culturally rich
areas in the Las Vegas Valley?
From the amazing cuisine offered, to the exciting
nightlife, fascinating shopping centers, and modern
luxury residential offerings, the Chinatown corridor has
evolved from the best-kept secret of Sin-City to a
burgeoning lifestyle epicenter just a mile west from the
Las Vegas Strip!
In the heart of this three-mile stretch is the Southwest
Gas Spring Mountain Campus. The Crown Jewel of
Chinatown currently consists of three (3) well-
maintained office buildings totaling +/-214,650 SF
situated on 16.9 contiguous acres of land.
This is the only Corporate Campus available for sale in
Las Vegas of this size. It provides ample space for a
dynamic workforce, covered and uncovered parking,
lush and mature landscaping, and a newly installed
Access Control system to keep the asset secure.
To a visionary developer, this site is a canvas to be
reimagined, redesigned, and redeveloped.
The possibilities are endless.
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
INVESTMENT HIGHLIGHTS
• Unique and rare opportunity to purchase 16.9 contiguous acres of land in the heart of Las Vegas’
Chinatown
• Southwest Gas Spring Mountain Campus, consisting of 3 well-maintained office buildings and one
vacant pad, is noted as The Crown Jewel of Las Vegas Chinatown
• The only corporate campus available for sale in Las Vegas of this size of 214,650 SF
• Value add with 16.9 contiguous acres of land with the ability to be reimagined, redesigned and
redeveloped
• Multiple points of ingress and egress on Spring Mountain Road, Lindell Road, and Edmond Street
• Las Vegas Chinatown is a major thoroughfare running east to west along Spring Mountain Rd.
• Chinatown, a 3-mile district of modern luxury housing, distinct restaurants and retail amenities that
have been developed over the past two decades, is located one (1) mile west of the Las Vegas Strip
• Site is conveniently located to I-15 (1.7 miles), the Las Vegas Strip (2.4 miles), the Las Vegas
Convention Center (4.2 miles), McCarran International Airport (5.6 miles) and affluent Summerlin
master-planned community (5.5 miles)
• Spring Mountain Road sees +/- 42,000 vehicles per day
• Rare Redevelopment site
• Seller will lease back through Q2 2022
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
OFFERING PRICE: Best Offer
APPRAISED VALUE: $37 Million (Completed Jan '20)
TERMS: Cash to Seller
JURISDICTION: Clark County District F
ZONING: C-1 (Local Business District)
APN: 136-13-601-001, 002, 003, 004
ACERAGE: 16.9 acres (includes 1.98-acre pad site)
PARKING: 609 Total (317 Covered)
TRAFFIC COUNTS: +/- 42,000 CPD on Spring Mountain Rd.
IMPROVEMENTS: BLDG A | +/- 58,375 SF
BUILT 1973 | SINGLE-STORY
BLDG B | +/- 81,075 SF
BUILT 1984 | THREE-STORY
BLDG C | +/- 75,200 SF
BUILT 1988 | THREE-STORY
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
The Crown Jewel of Las Vegas Chinatown
PAD BUILDING C
+/- 1.98 Acres 75,200 SF
+/-
BUILDING A
+/- 58,375
SF
BUILDING B
+/-80,075 SFThe Crown Jewel of Las Vegas Chinatown
BUILDING A +/- 58,375 SF
MAIN ENTRANCE
LOBBY
CONNECTS TO BUILDING BThe Crown Jewel of Las Vegas Chinatown
CONNECTS TO BUILDING A
BUILDING B +/- 80,075 SF
2ND FLOOR PLAZA LEVEL
ENTRY LEVELThe Crown Jewel of Las Vegas Chinatown
BUILDING C +/- 75,200 SF ENTRANCE
ENTRY LEVEL
2ND FLOOR
PLAZA LEVELThe Crown Jewel of Las Vegas Chinatown Two central plants with boilers, cooling towers and associated chillers Two Central Plants were upgraded in 2006 and in cooler weather, one central plant is capable to handle all 3 buildings Backup generators, power redundancy and UPS networks Recent significant capital upgrades to facilities, HVAC controls & lighting (operated with Building Management System) infrastructure as well as building aesthetics Roofing system was also replaced for all 3 buildings Parking lot was repaved in 2016 Radio Tower on site for Wireless and Microwave communication State of the art Access Control system installed in 2019 Property has interior and exterior surveillance system All 3 buildings have Fire Alarm and Fire Sprinkler system 2 separate water meters from Valley Water District 3 separate power meters from NV Energy
The Crown Jewel of Las Vegas Chinatown
THE CHINATOWN CORRIDOR
Las Vegas' Chinatown is a culturally rich community just 1 mile
west of the famous Las Vegas Strip. This not-so-hidden gem is
situated along Spring Mountain Road and runs 3 miles from
Valley View Boulevard to Rainbow Boulevard. This trendy
corridor delivers amazing cuisines, exciting nightlife, unique
boutiques, and modern luxury residential offerings.
The Las Vegas Chinatown Corridor started with just one mall,
The Chinatown Plaza, at 4205 Spring Mountain. It was
created by Taiwanese-American developer Chen
Chih-Cheng (James), with its grand opening in February of
1995. Now, there are more than 100 restaurants packed in or
around Spring Mountain Road, from street-food inspired
treats to five-star meals prepared by critically acclaimed
chefs. The picturesque skyline of the Las Vegas Strip serves as
a backdrop to the east, and the serene mountains of Red
Rock provide scenery to the west for this thriving stretch of
Chinatown.
Las Vegas' Chinatown is also home to the respected Las
Vegas Little Theater, and The Great Wall Bookstore, the first
and only Chinese bookstore in the state of Nevada. With
nearly 42,000 vehicles traveling along Spring Mountain Road
per day, the Chinatown Corridor continues to flourish with
active development projects!The Crown Jewel of Las Vegas Chinatown
DINING AND SHOPPING
Shopping and dining in Las Vegas' Chinatown or its other
known moniker, "Spring Mountain," isn't reminiscent of the
experience you'd expect. The Chinatown Corridor doesn't
boast blocks and blocks of fake luxury goods or rows of
tables with fresh fish and produce lining the alleyways.
What you will find, however, is one of the nation's largest
selections of Asian supermarkets, a variety of unique shops,
and numerous restaurants that take your taste buds across
Asia and beyond.
Chinatown is at the center of the Las Vegas food scene. It
is home to about 150 restaurants, ranging from very
traditional to experimental. You can find mouth-watering
meals across a variety of cuisines, from Chinese and
Korean, to even French or Spanish.
Visitors can browse through imported specialty foods,
traditional Chinese medicines and herbs, coveted Korean
beauty products, and the latest streetwear apparel from
local trendy boutiques. The recent addition of the cannabis
dispensary, Cultivate is also gaining much attention and
adds a new depth to the shopping experience.The Crown Jewel of Las Vegas Chinatown
LIVING IN CHINATOWN
Luxury apartment buildings are slowly occupying the Las
Vegas Chinatown region as developers discover that this
diverse corridor is one of the hottest destinations off of the
Las Vegas Strip. Chinatown offers an exquisite blend of art,
culture, music, distinguished luxury living, and extraordinary
activities. These luxury apartments are receiving much
attention from young professionals and Vegas natives that
crave the feeling of a big city without the big city rent prices.
The recently constructed Green Leaf Lotus complex,
developed by Jonathan Fore, is a 295-unit luxury apartment
complex that offers its residents resort-style amenities, lush
panoramic city views, and easy access to the Chinatown
District and the Las Vegas Strip.
The addition of the Vegas Golden Knights and the relocation
of the Las Vegas Raiders has also created a buzz in the city
of Las Vegas, helping make room for Fore's newest
development, The Pearl, a 170-unit luxury complex that will sit
opposite of The Lotus, set to be completed in summer 2022.The Crown Jewel of Las Vegas Chinatown
CURRENT DEVELOPMENTS
The Las Vegas Chinatown Corridor began as a single plaza on
Spring Mountain in the early ‘90’s. There have been dozens of
new developments and redevelopments since. The three most
notable recent developments include modern luxury residential,
dynamic dining, shopping and professional offices.
Shanghai Plaza Las Vegas built in 2019, is a +/- 68,000 square
foot mixed use complex offers upscale shopping, entertainment,
executive offices, culture, and art activities. The project is
situated on 3.14 acres centrally located on Spring Mountain and
Arville. Rental rates range from $3.50 - $4.50 NNN.
Green Leaf Lotus Apartments features a DJ booth, yoga and
massage rooms, virtual-reality sports, and other amenities. The
295-unit complex is situated on 6.91 acres and includes +/-
8,969 square feet of retail. The developer successfully sold Lotus
last fall 2018, after tenants started moving in, for nearly $77
million or $260,000 per unit. At the time it was double the
market average.
Golden Spring Plaza delivered units the 4th quarter of 2019. This
+/- 33,000 square foot plaza combines retail spaces,
professional office, with restaurant spaces and pads. The
project is situated on 2.76 acres on Spring Mountain and
Duneville. Rental rates range from $3.00 - $4.00 NNN.The Crown Jewel of Las Vegas Chinatown
LAS VEGAS OVERVIEW GAMING & TOURISM
The Southern Region of Nevada includes the cities of Las With the star power of Las Vegas and the diversity of natural
Vegas, Henderson, North Las Vegas, Mesquite, Boulder City, settings, Hospitality and Tourism is the state’s iconic
and the unincorporated parts of Clark County. Over 2 million consumption-oriented industry and a major economic engine
people live in the metropolitan area, making it, by far, the that creates tens of thousands of jobs for Nevadans.
largest population center in Nevada. Though the Las Vegas
metropolitan area is known primarily for tourism, our economy Given its leadership, Nevada is focused on leveraging its
is diverse and employs many people in the healthcare, intellectual capital in hospitality, tourism and related leisure
defense, IT and manufacturing sectors. services to diversify the traditionally service-oriented industry
into higher-value and innovative activities that would create
Las Vegas is one of the most famous tourist destinations in the higher-skill and higher-paying jobs, expand the state’s
world, but in recent years it has also become one of the top exports, and even open up new opportunities for IT-based
business destinations in the world. Four Fortune 500 companies activities.
are headquartered in Las Vegas, and many more global
companies do business in Southern Nevada. Over six million
people a year come to Las Vegas for conventions. Those six
million people represent nearly all of the Fortune 500, and
thousands of other global companies. Because of conventions,
Las Vegas has become a global marketplace, where deals get
made and ideas are born.The Crown Jewel of Las Vegas Chinatown
MSG SPHERE
Work has begun on the massive, 18,000-seat MSG Sphere at The
Venetian in Las Vegas. The new venue is set to change live
performance in Sin City as we know it, not to mention the famous
skyline. This spherical structure will be the first of its kind. The MSG
Sphere will feature fully programmable, high-tech video screens on
the interior and exterior. Plus, top-notch sound capabilities
featuring vibrations from a infrasound haptic floor system. The MSG
Sphere had been scheduled to open in 2021, but due to a disruption
in its supply chain construction has been suspended and the
project’s new opening date has yet to be rescheduled.
ALLEGIANT STADIUM
The Oakland Raiders received the NFL’s approval to move to Sin
City for the 2020 NFL season. The $1.8 billion stadium is located
just to the west of the strip and is scheduled to open in the summer
of 2020. The venue’s horse-shoe shape designed by Manica
Architecture, would accommodate an audience of 65,000
spectators, 8,000 cars, tailgating amenities and mixed-use
commercial facilities. Along with the economic benefits of NFL
games, the venue will also be used for UNLV football, concerts,
soccer, and allow Las Vegas to host the Super Bowl, which would
bring hundreds of millions of dollars in tourism and revenue.
LAS VEGAS CONVENTION CENTER EXPANSION
Las Vegas Convention Center (2017-2024) – A $1.4-billion project
that extends to the Strip and will include 600,000 square feet of
exhibit hall, outdoor exhibition space and a complete renovation of
the existing convention space. This expansion will allow for an
overflow area for conventions to use while the remaining halls of the
main convention center are renovated. Thus, refreshing the beating
heart of the Las Vegas valley, with 6 million plus convention
attendees visiting last year.
*The information herein was obtained from sources deemed reliable; however MDL Group makes no guarantees, warranties or representations as to the completeness of accuracy thereof.The Crown Jewel of Las Vegas Chinatown
LAS VEGAS LIGHTS FC
Las Vegas Lights FC is an American
professional soccer team based in Las Vegas,
Nevada. The team made its debut in the
United Soccer League in 2018 and plays its
home games at Cashman Field. The Lights are
coached by Eric Wynalda and owned by
Brett Lashbrook, who also serves as general
manager. The Lights play their home matches
at Cashman Field, a stadium in Downtown Las
Vegas,it has 9,334 permanent seats and
additional standing room capacity.
LAS VEGAS AVIATORS
Las Vegas Aviators formerly known as the Las
VegaS 51s and Las Vegas Stars, are a Minor
League Baseball team in the Pacific Coast
League (PCL) and the Triple-A affiliate of the
Oakland Athletics. They are located in
Summerlin, Nevada.
VEGAS GOLDEN KNIGHTS LAS VEGAS BALLPARK
The Vegas Golden Knights are a professional ice Las Vegas Ballpark is a baseball stadium in
hockey team based in the Las Vegas metropolitan area Summerlin, Nevada in the Las Vegas Valley. It
that competes in the National Hockey League (NHL). is the home field for the Las Vegas Aviators of
They are members of the Pacific Division of the league’s the Triple-A Pacific Coast League. The
Western Conference, and began play in the 2017–18 stadium is owned by the Howard Hughes
NHL season. The team’s inaugural home game was Corporation. Las Vegas Ballpark is located in
played on October 10, 2017. The Golden Knights said Downtown Summerlin near the intersection of
their colors steel grey, gold, red and black reflect the South Pavilion Center Drive and Summerlin
community and the focus of the team. The grey Center Drive next to City National Arena and
represents strength and durability; Nevada is the across the street from the Downtown
largest producer of gold in the United States; the red is Summerlin shopping center.
taken from the Las Vegas skyline, desert and Red Rock
canyons; and the black represents power and intensity.
*The information herein was obtained from sources deemed reliable; however MDL Group makes no guarantees, warranties or representations as to the completeness of accuracy thereof.The Crown Jewel of Las Vegas Chinatown
ADVANTAGES OF DOING BUSINESS IN NEVADA LAS VEGAS KEY INDUSTRIES
• More than 56 million people visit Nevada each year • Aerospace & Defense
• McCarran Airport is in the top 10 of U.S. airports • Health
• Low-cost startup, regulatory, licensing and annual fees • Information Technology
• Consistently one of the “Top 10” most business-friendly states • Manufacturing & Logistics
• NO corporate or personal income tax • Mining
• NO inventory tax • Natural Resource Technologies
• NO franchise tax - Agriculture
• NO unitary tax - Energy
• NO special intangible tax - Water
• Able and willing workforce in right-to-work-state • Tourism & Gaming
• Competitive utility rates for commercial operations
*Source by www.diversifynevada.comThe Crown Jewel of Las Vegas Chinatown DEMOGRAPHICS SUMMARY 1-Mile 3-Miles 5-Miles Population 29,022 164,970 425,687 Households 11,661 65,784 161,181 Median Age 39.3 39.2 38.3 Average Household Size 2.49 2.49 2.52 TRAFFIC COUNT Average Daily Traffic Volume +/- 42,000 +/- 145,000 +/- 153,000
The Crown Jewel of Las Vegas Chinatown THE CROWN JEWEL OF CHINATOWN - CONFIDENTIALITY AGREEMENT This Offering Memorandum contains select information pertaining to the business and affairs of 5241 W. Spring Mountain Road. 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 MDL Group. 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. By acknowledging your receipt of this Offering Memorandum from MDL Group, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) 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 MDL Group 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/or 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 the Seller or MDL Group 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 of this Offering Memorandum. MDL Group 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 the 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 A MDL GROUP AGENT FOR MORE DETAILS.
The Crown Jewel of Las Vegas Chinatown
Hayim Mizrachi, CCIM
President | Principal
hmizrachi@mdlgroup.com
702.941.7376
NV Lic #B.0143643.CORP
Ryan Martin, SIOR, CCIM
Senior Vice President
rmartin@mdlgroup.com
702.941.7382
Service You Deserve. People You Trust. NV Lic #BS.0048284
5960 South Jones Boulevard
Tonya Gottesman
Las Vegas, Nevada 89118
Senior Associate
T 702.388.1800 | F 702.388.1010 tgottesman@mdlgroup.com
www.mdlgroup.com 310.612.3592
NV Lic #S.0189043
Michael Greene
Associate
mgreene@mdlgroup.com
702.941.7395
NV Lic #S.0186326
Luke Ramous
Associate
lramous@mdlgroup.com
702.941.7372
NV Lic #S.0188531
*The information herein was obtained from sources deemed reliable; however MDL Group makes
no guarantees, warranties or representations as to the completeness of accuracy thereof.You can also read
