20-year operating historynew 10-year, corporate lease extension2893 N. Green Valley Parkway, Henderson, NV 89014

24 hour fitnessnet leased asset

Click for Map [ www.CapitalPacific.com ]

ReNtable SF . . . . . . . . . . . 26,376 SFlot Size . . . . . . . . . . . . . . . 3.07 ACPRiCe PeR SF . . . . . . . . . . . $177.74CuRReNt ReNt . . . . . . . . $1.00/SF

PRICE: $4,688,000CAP: 6.75%noI: $316,440

Listing Team Contact Info

nEt lEAsEd 24 houR fItnEss loCAtEd At A sIgnAlIzEd IntERsECtIon In hEndERson, nv.

24 houR fItnEss hAs bEEn At Its loCAtIon foR ovER 20 yEARs And RECEntly ExtEndEd Its

lEAsE foR An AddItIonAl 10 yEARs.

Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.

dave lucasdlucas@capitalpacific.com | (415) 274-7390NV RED# 1001411CA BRE# 01389761

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

investment highlights

24 hour fitness | 2

24 hour fitness recently extended its lease for an additional 10 years

dense residential and retail marketHenderson is the second largest city in Nevada, after Las Vegas. There are approximately 151,000 people within a 3-mile radius and 388,000 people within a 5-mile radius of the subject property. The combination of strong demographics, a dense retail and residential market, and location within the Las Vegas MSA all contribute to the intrinsic value of this asset.

corporate credit tenant 24 Hour Fitness is the world’s largest privately owned and operated fitness center chain. The company currently has 420+ clubs in 18 US states with almost 4 million club members.

net leased investmentTenant responsible for CAMS, taxes, and insurance. Tenant is responsible for non-structural components, including repair and replacement of HVAC, as well as repairs and maintenance of the roof. Landlord is responsible for roof & structure replacement.

10% rental increases every 5-years24 Hour Fitness extended its lease at the end of 2016 for an additional 10 years. There are 10% rental increases every 5 years, increasing the return on investment for a potential Buyer.

20+ year occupancy history24 Hour Fitness has been at its location since the property was developed in 1996. 24 Hour Fitness recently renewed its lease for an additional 10 years, which demonstrates their strength.

strong traffic countsThe subject property is situated at the intersection of N Green Valley Parkway and E Sunset Road with combined average daily traffic counts of 59,800 VPD.

core characteristics

24 hour fitness | 3

zoomed-in aerialBENEFITTING FROM TRAFFIC COUNTS IN EXCESS OF 23,000 VPD

S M

ount

ain

Vist

a St

reet

S ea

ster

n av

enue

S Pe

cos

Road

e Patrick lane

e Sunset Roade Sunset Road

N G

reen

Val

ley

Park

way

562 562

McCarran International

Airport - Averaging 600 Commercial

Flights Per Day

WILDHORSE GOLF CLUB

Nate Mack elementary

Cannon Jr. High School

Del Sol academy of the Performing arts

american Heritage academy

explore Knowledge academy

David o. McKay academy

Montessori Vision

academy

Green Valley Plaza & Shops

McCarron Marketplace

Green Valley Town Center

LAS VEGAS

HOUSING(151,000+ RESIDENTS

WITHIN 3 MILES)

36,800 DAILYE. Sunset Road

23,0

00 D

AIL

Y

24 hour fitness | 4

e Sunset Road

W Sunset Road

e tropicana avenue

boulder HighwayParadise Road

562 562

593

171

171

582

582

593

215

515

515

515

e Patrick lane

N Green Valley Parkw

ay

S ea

ster

n av

enue

S ea

ster

n av

enue

McCarron Marketplace

McCarron International

Airport

Del Sol academy of the Performing arts Green Valley

Town Center

Green Valley Plaza & Shops

WILDHORSE GOLF CLUB

David M. Cox elementary

aggie Roberts elementary

CW Woodbury Middle School

Stephanie Street Shopping Center

Galleria at Sunset

Sunmark Plaza

Whitney Ranch

Eastgate

Cannon Jr. High School

LAS VEGAS

HOUSING(387,000 RESIDENTS

WITHIN 5 MILES)

zoomed-out aerialLOCATED ON HENDERSON’S PROMARy RETAIL CORRIDOR

24 hour fitness | 5

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the ac-curacy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

income & expense

Currentprice: $4,688,000

capitalization rate: 6.75%

price per square foot: $177.74Total Rentable Area (SF): 100.00% 26,376 Land Area (AC): 3.07 AC

Scheduled Rent $12.00 $316,440 Effective Gross Income $12.00 $316,440

Property Taxes NNN Tenant Paid Insurance NNN Tenant Paid Maintenance NNN Tenant Paid

NET OPERATING INCOME $316,440

24 hour fitness | 6

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

rent roll

[ REPRESENTATIVE PHOTO ]

Tenant Sq. Ft. Monthly RentAnnual

Rent

Yearly

Rent/FT

24 Hour Fitness 26,376 8/20/1996 8/31/2021 $26,370.00 $316,440.00 $12.00

Increase 9/1/2021 8/31/2026 $29,007.00 $348,084.00 $13.20

Option 1 9/1/2026 8/31/2031 $31,907.67 $382,892.00 $14.52

Option 2 9/1/2031 8/31/2036 $35,094.08 $421,129.00 $15.97

Current Totals: 26,376 $26,370 $316,440 $12.00

LEASE TERMS RENT SUMMARY

Term

TENANT INFO

24 hour fitness | 7

Site PlaN Key

PARCEL oUTLINE:

RENTABLE AREA: 26,376 SF

INGRESS/EGRESS:

23,000 Daily

site plan - 20 year operating history at this location

SUIT

E E

SALO

N

EyE

OPTI

ONS

LET’

S TA

N

N Green Valley Parkway

Ram

rod

aven

ueMONUMENT SIGN

NOT A PART

This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.

24 hour fitness | 8

about 24 HouR FitNeSS24 Hour Fitness has been in operation for more than 30 years and is the world’s largest (by membership numbers) privately owned and operated fitness center chain. The company is headquartered in San Ramon, California and is a leading health club industry pioneer, serving nearly four million members in more than 420 clubs in 18 US states.

Since the beginning, the company has been dedicated to helping members change their lives and reach their individual fitness goals. With convenient club locations, personal training services, innovative group exercise classes, and a variety of strength, cardio, and functional training equipment, 24 Hour Fitness offers fitness solutions for everyone.

24 Hour Fitness was acquired from the Company from Forstmann Little & Co in May, 2014. It is currently owned by AEA Investors (leader in the private equity industry), ontario Teachers’ Pension Plan (Canada’s largest single-profession pension plan), and Fitness Capital Partners (fund organized by Dean Bradley osborne and Global Leisure Partners).

total loCatioNS 420+

MeMbeRSHiPS 4 MIllIon

eMPloyeeS 20,000

tenant overview

24 hour fitness is the world’s largest privately owned and operated fitness center chain.

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

24 hour fitness | 9

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

facilities; costs of planting, replanting, replacing and watering flowers and planters; costs of providing energy to light the Common Areas; cost of water services; and administrative costs equal to 10% of the total costs and expenses of operating and maintaining the Center.

“common areas“ means all areas, space, equipment, and special services provided for the common or joint use and benefit of the tenant of the center or their employees, agents, ser-vants, customers, and other invitees, including without limitation, roof, foundation, walls and floors surrounding the Premises, parking areas, access roads, driveways, retaining walls, land-scaped areas, truck service ways or tunnels, loading docks, pedestrian malls, courts, stairs, ramps and sidewalks, comfort and first-aid stations, washrooms and parcel pickup stations.

18. iNSuRaNCe

Tenant shall reimburse Landlord its pro-rata share of the costs to maintain Landlord insurance.

11.01 MaiNteNaNCe by teNaNt

Maintenance by Tenant. Tenant, at its sole cost and expense, shall keep the Premises, including interior entrances, all glass and show window moldings, and all partitions, doors, fixtures, floor coverings, equipment, and appurtenances thereof, including lighting, heating and plumbing fixtures, electronic motors, and any sir-conditioning system, in good order, condition, and re-pair, including the replacement thereof when necessary.

11.02 MaiNteNaNCe by laNDloRD

Maintenance by Landlord. Landlord shall maintain the exterior of the Building and the struc-tural components of the Building, including the roof, foundation and outer walls thereof at its own cost, but subject to Landlord’s right to include non capital costs within the Center’s operating Cost and to recover costs of items which have been reserved against pursuant to Section 5.02 (a).

14. utilitieS

Tenant shall be responsible for all charges for use or consumption for heat, sewer, water, gas, electricity or any other utility service.

oPtioN PeRioDS

2, 5-Year option Periods:

5.01 taXeS

Tenant shall reimburse Landlord its pro-rata share of property taxes.

5.02 CoMMoN aRea eXPeNSeS

Tenant shall pay to Landlord its share of Center’s operating Cost. Center’s operating Costs means the total cost incurred in operating and maintaining the Common Areas, excluding only items of expense commonly known as capital costs, but specifically including, (i) the costs in-curred in operating and maintaining Building and the Center, including all costs of operating, maintaining, repairing, lighting, signing, cleaning, painting, striping, policing, and security of center; trash service, water, sewer and utility charges incurred by Landlord, alarm systems, in-surance, removal of snow, ice, trash and debris; regulation of traffic; costs of repair and replace-ment of paving, curbs, walkways, landscaping, drainage, pipes, ducts, conduits and lighting

PReMiSeS/teRM

SqUARE FEET 26,376 SFLEASE TYPE NNNLEASE DATE 09/07/1994CURRENT ExPIRATIoN 08/31/2026oPTIoNS TWo 5-YEAR oPTIoNS

baSe ReNt

date monthly payment annual payment

09/01/2016 – 08/31/2021 $26,370 $316,44009/01/2021 – 08/31/2026 $29,370 $348,084

date monthly payment annual payment

09/01/2026 – 08/31/2031 $31,908 $382,89209/01/2031 – 08/31/2036 $35,094 $421,129

lease abstract 24 hour fitness

24 hour fitness | 10

2016 HOUSEHOLD INCOMES

POPULATION

TOP EMPLOyERS IN HENDERSON, NV

demographics & map

1-mile 3-mile 5-mile

2010 13,183 144,023 367,3092016 13,489 151,110 387,9722021 14,083 160,017 413,044

1-mile 3-mile 5-mile

Average $58,922 $66,077 $62,585Median $45,270 $51,076 $47,644

HENDERSON

LAS VEGAS

16 MIN10 MILES

23,000 DAILyN. Green Pkwy

24 HouR FitNeSS MaRKet loCatioN

ReGioNal MaP

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Employer # of EmployeesCity of Henderson 2,924St. Rose Dominican Hospital 1,900Green Valley Ranch Station Casino 1,850Sunset Station Hotel & Casino 1,450

36,800 DAILyE. Sunset Rd.

24 hour fitness | 11

24 hour fitness Locations

THE SUBjECT PROPERTy IS ISOLATED FROM OTHER 24 HOUR FITNESS LOCATIONS IN THE GREATER LAS VEGAS MARkET. THE SITE SERVES A CAPTIVE CUSTOMER BASE.

LAS VEGAS

SUBjECT PROPERTy

18 MIN10 MILES

9 MIN3.6 MILES

20 MIN7.2 MILES

22 MIN10 MILES

20 MIN8.8 MILES

27 MIN17 MILES

32 MIN21 MILES

33 MIN23 MILES

30 MIN16 MILES

24 hour fitness | 12

Located in Henderson, Nev., Union Village will be the first Integrated Health Village in the world. Listed as the largest healthcare building project in the us by Health Facilities Management, the visionary model for health care will offer a world-class hospital complex and health center, residential, entertainment and specialty retail space, a vibrant senior retirement community and a civic and cultural arts center integrated into a master-planned community. The first of the three phases of the architecturally aesthetic, technologically innovative and environmentally sustainable village to be developed on 155 acres, will include unioncentre, featuring a state-of-the-art hospital and healthcare complex; unionplaza, a specialty retail center with medical offices, residential apartments, entertainment and a mid-range all-suite hotel; unionplace, home to a vibrant Senior Village; and unionsquare, serving as the village’s cultural center complete with a space and science center and a possible performing arts theater.

union village in henderson, nevada

unioncentreUnionCentre is a State-of-the-Art and World-Class Healthcare Center comprised, in its initial phase, a full continuum of care including an Acute Care Hospital, an Ambulatory Care Center, a Long Term Acute Care Hospital, a Skilled Nursing Facility, Medical office Buildings and a Wellness Center to serve the people of South Nevada as a regional, national and international center of excellence for decades. The first phase is anticipated to be 450,000 Square Feet and would include 307 beds.

unionplaceUnionPlace is a Wellness Retirement Village of the future for up to 1,500 vibrant seniors, as well as those with special service needs for assisted living and memory care. Included in UnionPlace will be every resource to remain “connected” to families and healthcare professionals and to continue an unequaled quality of life and personal growth: video conferencing; virtual university and learning center; virtual competition in golf, bowling, tennis and other activities; virtual travel throughout the world; and, a virtual Center for Arts & Entertainment.

unionplazaApproximately 300,000 square feet of specialty retail and a mid-range all-suite Hotel and Conference Center artfully integrated into the village lifestyle (restaurants, multi-screen theater, athletic club, food court, inter-generational child development center, specialty retail and offices).

unionsquareThe Village will be a series of thematic walks and pedestrian pathways and parks for a cultural center for the Henderson Space and Science Center, a possible Performing Arts Center and future medical education facilities and research centers.

Two miles east of subject property: largest healthcare building project in the country is being developed

click to learn more

24 hour fitness | 13

henderson, nv

[ las vegas, NV ]

Henderson has been at the front of Nevada’s growth spurt, growing from just 60,000 to more than 270,000 today. By the end of the year 2025, nearly 400,000 residents are expected to call Henderson home.

Predominant business sectors in Henderson include: finance, insurance and real estate firms, retail, education, health and social services. Attractive demographic characteristics include a fast-growing population base and impressive average household incomes. Henderson was recognized as the fastest-growing large city in the United States from 1990 to 1998 by the U.S. Census Bureau.

In 2014, Henderson ranked as one of the Top 10 “Safest Cities in the United States” by the FBI Uniform Crime Report. U-Haul International also ranked Henderson among the Top 10 “Growth Cities for 2015.”

Henderson is located in Clark County, which is the epicenter of Southern Nevada, encompassing 8,000 square miles, five cities, the Las Vegas Strip and is home to 2 million residents.

Henderson is just 11 miles south of Las Vegas, the most populous city in Nevada and seat of Clark County. Nicknamed “The Entertainment Capital of the World,” the primary drivers of the Las Vegas economy are tourism, gaming and conventions.

LOCAL/REGIONAL DEVELOPMENTS:

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

24 hour fitness | 14

A unique HUMANRESULTS-DRIVEN client experience

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[ Copyright © 2017 Capital Pacific ]

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Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.

DaVe luCaSdlucas@capitalpacific.com | (415) 274-7390 NV RED # 1001411CA BRE# 01389761

aaRoN SuSMaN