AMERICAN ADDICTION CENTER [NYSE: AAC] (DBA ......Sun Commercial Real Estate, Inc. AMERICAN ADDICTION...
Transcript of AMERICAN ADDICTION CENTER [NYSE: AAC] (DBA ......Sun Commercial Real Estate, Inc. AMERICAN ADDICTION...
SunCommercial Real Estate, Inc.
AMERICAN ADDICTION CENTER [NYSE: AAC](DBA: SOLUTIONS RECOVERY)
NATIONAL CREDIT TENANT ABSOLUTE NNN PORTFOLIO1 Class B Office Building, + 8 Residential Rehabilitation Facilities
Las Vegas, Nevada
PAGE 2 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ContaCt team
Cathy Jones, CPA, SIOR, CCIMCEO
Jennifer LehrSenior Associate
Exclusively listed by Sun Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148
702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com
Jessica CegavskeVice President702-968-7321
Roy FritzSenior Vice President
AMERICAN ADDICTION CENTER PORTFOLIO PAGE 3 OF 30
Confidentiality & disClosure
SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.
The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro-forma is delivered only as an accommodation and neither the Seller, Broker , nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro-forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.
Cathy Jones, CPA, SIOR, [email protected]
table of Contents
Investment SummaryAmerican Addiction Center Overview Property SummaryRent RollProperty PhotosResidential Facilities MapAssessor Parcel MapLas Vegas Valley Location Map
Location Overview
Market Overview
Section 3
Section 2
Las Vegas Office & West Las Vegas Submarket ReviewArea DemographicsLas Vegas Market Overview Newest Las Vegas Developments Recently Completed Major Developments Planned Developments
Residential Lease ComparablesOffice Lease Comparables
Property Overview Section 1
PAGE 4 OF 30
PAGE 5 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
investment summary
THE OFFERING
The Investment Services Group at Sun Commercial Real Estate has been exclusively retained to offer qualified investors the opportunity to acquire a Single Tenant Absolute NNN Net Leased Portfolio which includes One (1) Class B Office Building (38,784 SF) and Eight (8) Residential Rehabilitation Facilities (30,389 SF) fully guaranteed by the national credit tenant American Addition Centers [NYSE: AAC]. This Absolute NNN lease has 12+ years of firm term remaining and includes annual increases.
INVESTMENT HIGHLIGHTS • National Credit Tenant - Lease is guaranteed by American Addiction Centers (NYSE: AAC) - Market Cap over $221,000,000• Single Tenant Absolute NNN Lease Structure - Absolutely zero Landlord expenses or responsibilities• Long Term Lease with Increases - 12+ years of Firm Term Remaining with annual increases• Below Market Rates – In-Place Lease Rate is Below Market - See Lease Comparables - pages 15 & 16 • Instant Diversification - Portfolio includes (1) Class B Office building and (8) Residential facilities across the Las Vegas Valley
Asking Price:
Total Building Area:
Total Land:
$9,165,000 ($132 PSF)
±69,173 SF
±7.66 Acres
SUMMARY
National Credit Tenant: NYSE: AAC ($221M+ Market Cap)
Original Lease Term: 15 Years Year 1 NOI: $618,667
Lease Structure: Single Tenant Absolute NNN
In-Place Cap Rate: 6.75%
Annual Increases: Lessor of 1.5% or 1.25x CPI Years Built:
Remaining Firm Term: 12+ Years (expires 12/31/2029)
Office Building: 1990Residential Facilities: 1975 - 2003
Average Cap Rate: 7.34%
PAGE 6 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ameriCan addiCtion Center [nyse: aaC] overview
LEASE ABSTRACT
American Addiction Centers (NYSE - AAC) is a provider of inpatient substance abuse treatment services. AAC treats adults as well as adolescents who are struggling with drug addiction, alcohol addiction and co-occurring mental/behavioral health issues. American Addiction Center currently has 30 facilities across the country, 12 inpatient and 18 outpatient facilities. AAC has experienced exponential growth in just the last few years, earning $280 million last year, up from $212 million in 2015. Outpatient visits saw a 282% increase to 49,173 in 2016, up from 12,879 just the year before. At the end of 2016, the bed-count for AAC facilities was 1,342, with plans to increase that number to 1,674 to house more afflicted individuals by 2018.
According to the 2014 National Survey of Drug Use and Health conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA), an estimated 27.0 million Americans older than 12 were illicit drug users, representing 9.2% of people aged 12 and older. That’s up from 22.4 million Americans in 2009. These statistics are overwhelming, and the demand for addiction treatment is growing.
For additional information about American Addiction Centers please visit http://ir.americanaddictioncenters.org/.
Solutions Treatment Center, LLC, a Delaware limited liability company dba Solutions Recovery
American Addiction Centers, Inc. a Nevada corporation has provided an unconditional guaranty of the Lease
AAC Holding, Inc. the holding company of the Guarantor
January 1, 2015
December 31, 2029
15 Years
NONE
The lesser of 1.5% or 1.25 times the change in the Price Index
Four (4) consecutive terms of five (5) years each upon giving at least 120 days prior notice, with the same annual rent adjustment as the original term
Tenant pays all expenses directly to service providers. No CAM payments are therefore invoiced or payable.
Tenant:
Guarantor:
Additional Executor:
Commencement Date:
Expiration Date:
Term:
Security Deposit:
Annual Adjustments:
Renewal Options:
CAM Payments:
PAGE 7 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ameriCan addiCtion Center [nyse: aCC] overview
Grand Prairie, TX130 beds
Lafayette, NJ110 beds
San Diego, CA36 beds
Riverview, FL162 beds
Fort Lauderdale, FL72 beds
West Palm Beach, FL64 beds
OUTPATIENT TREATMENT FACILITIES
Louisiana: Baton Rouge, Covington, Houma, Lafayette, Lake Charles, Metairie, New OrleansMississippi: Olive Branch, Oxford, TupeloNew Jersey: LafayetteNevada: Las Vegas (3 Locations)Rhode Island: Greenville, Portsmouth, South KingstownTexas: Arlington
PLANNED 2018 YEAR END FOOTPRINT
RESIDENTIAL TREATMENT FACILITIES
Las Vegas, NV148 beds
Las Vegas, NV80 beds
Temecula, CA112 beds
Etta, MS100 beds
Aliso Viejo, CA93 beds
Lafayette, LA32 beds
1,674 bedsPlanned beds in 2018
AAC Headquarters
Our mission is to provide quality, comprehensive, compassionate, and innovative care to adults struggling with alcohol and/or drug conditions and mental/behavioral health issues. Through research-based and empathetic care we instill hope that long-term recovery is possible. Our purpose and passion is to empower the individual, his/her family, and the community through the promotion of optimal wellness of the mind, body, and spirit.
SOBER LIVING FACILITIES
Mississippi: Resolutions OxfordNevada: Resolutions Las VegasTexas: Resolutions Arlington
In-Network Lab
Out-of-Network Lab
In-Network Residential
In/Out-of-Network Residential
In/Out-of-Network Outpatient
Sober Living
Out-of-Network Residential
In-Network Outpatient
Out-of-Network Outpatient
Grand Prairie, TX130 beds
Lafayette, NJ110 beds
San Diego, CA36 beds
Riverview, FL162 beds
Fort Lauderdale, FL72 beds
West Palm Beach, FL64 beds
OUTPATIENT TREATMENT FACILITIES
Louisiana: Baton Rouge, Covington, Houma, Lafayette, Lake Charles, Metairie, New OrleansMississippi: Olive Branch, Oxford, TupeloNew Jersey: LafayetteNevada: Las Vegas (3 Locations)Rhode Island: Greenville, Portsmouth, South KingstownTexas: Arlington
PLANNED 2018 YEAR END FOOTPRINT
RESIDENTIAL TREATMENT FACILITIES
Las Vegas, NV148 beds
Las Vegas, NV80 beds
Temecula, CA112 beds
Etta, MS100 beds
Aliso Viejo, CA93 beds
Lafayette, LA32 beds
1,674 bedsPlanned beds in 2018
AAC Headquarters
Our mission is to provide quality, comprehensive, compassionate, and innovative care to adults struggling with alcohol and/or drug conditions and mental/behavioral health issues. Through research-based and empathetic care we instill hope that long-term recovery is possible. Our purpose and passion is to empower the individual, his/her family, and the community through the promotion of optimal wellness of the mind, body, and spirit.
SOBER LIVING FACILITIES
Mississippi: Resolutions OxfordNevada: Resolutions Las VegasTexas: Resolutions Arlington
In-Network Lab
Out-of-Network Lab
In-Network Residential
In/Out-of-Network Residential
In/Out-of-Network Outpatient
Sober Living
Out-of-Network Residential
In-Network Outpatient
Out-of-Network Outpatient
Grand Prairie, TX130 beds
Lafayette, NJ110 beds
San Diego, CA36 beds
Riverview, FL162 beds
Fort Lauderdale, FL72 beds
West Palm Beach, FL64 beds
OUTPATIENT TREATMENT FACILITIES
Louisiana: Baton Rouge, Covington, Houma, Lafayette, Lake Charles, Metairie, New OrleansMississippi: Olive Branch, Oxford, TupeloNew Jersey: LafayetteNevada: Las Vegas (3 Locations)Rhode Island: Greenville, Portsmouth, South KingstownTexas: Arlington
PLANNED 2018 YEAR END FOOTPRINT
RESIDENTIAL TREATMENT FACILITIES
Las Vegas, NV148 beds
Las Vegas, NV80 beds
Temecula, CA112 beds
Etta, MS100 beds
Aliso Viejo, CA93 beds
Lafayette, LA32 beds
1,674 bedsPlanned beds in 2018
AAC Headquarters
Our mission is to provide quality, comprehensive, compassionate, and innovative care to adults struggling with alcohol and/or drug conditions and mental/behavioral health issues. Through research-based and empathetic care we instill hope that long-term recovery is possible. Our purpose and passion is to empower the individual, his/her family, and the community through the promotion of optimal wellness of the mind, body, and spirit.
SOBER LIVING FACILITIES
Mississippi: Resolutions OxfordNevada: Resolutions Las VegasTexas: Resolutions Arlington
In-Network Lab
Out-of-Network Lab
In-Network Residential
In/Out-of-Network Residential
In/Out-of-Network Outpatient
Sober Living
Out-of-Network Residential
In-Network Outpatient
Out-of-Network Outpatient
PLANNED 2018 YEAR END FOOTPRINT
Grand Prairie, TX130 beds
Lafayette, NJ110 beds
San Diego, CA36 beds
Riverview, FL162 beds
Fort Lauderdale, FL72 beds
West Palm Beach, FL64 beds
OUTPATIENT TREATMENT FACILITIES
Louisiana: Baton Rouge, Covington, Houma, Lafayette, Lake Charles, Metairie, New OrleansMississippi: Olive Branch, Oxford, TupeloNew Jersey: LafayetteNevada: Las Vegas (3 Locations)Rhode Island: Greenville, Portsmouth, South KingstownTexas: Arlington
PLANNED 2018 YEAR END FOOTPRINT
RESIDENTIAL TREATMENT FACILITIES
Las Vegas, NV148 beds
Las Vegas, NV80 beds
Temecula, CA112 beds
Etta, MS100 beds
Aliso Viejo, CA93 beds
Lafayette, LA32 beds
1,674 bedsPlanned beds in 2018
AAC Headquarters
Our mission is to provide quality, comprehensive, compassionate, and innovative care to adults struggling with alcohol and/or drug conditions and mental/behavioral health issues. Through research-based and empathetic care we instill hope that long-term recovery is possible. Our purpose and passion is to empower the individual, his/her family, and the community through the promotion of optimal wellness of the mind, body, and spirit.
SOBER LIVING FACILITIES
Mississippi: Resolutions OxfordNevada: Resolutions Las VegasTexas: Resolutions Arlington
In-Network Lab
Out-of-Network Lab
In-Network Residential
In/Out-of-Network Residential
In/Out-of-Network Outpatient
Sober Living
Out-of-Network Residential
In-Network Outpatient
Out-of-Network Outpatient
PAGE 8 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ProPerty summary
Property Location:
Property Description:
Assessor Parcel Numbers:
Office Site Size:
Office Building Size:
Construction Years:
Zoning:
Eight Residential Facilities SF:
Residential Facilities Site Size:
Traffic Counts:
The office building is located at 2975 S. Rainbow Boulevard, Las Vegas Nevada within the West submarket of the Las Vegas metropolitan area. The property’s premier location is in close proximity to the upscale community of Summerlin. All of the Residential Rehabilitation Facilities are within a 3 mile radius of the Office Building with the exception of one, which is located in the Northwest part of the Las Vegas Valley, see map on page eight.
The American Addition Addiction Center, Inc. Portfolio inclusive of One (1) Office Building totaling 38,784 square feet and Eight (8) Residential Rehabilitation Facilities totaling 30,389 square feet for a total portfolio square footage of 69,173 square feet.
Office Building: 163-10-703-009, Residential Facilities: 125-29-405-012, 163-10-606-009, 163-15-510-002, 163-10-402-003, 163-01-201-005, 163-10-304-007, 163-01-105-013, 163-12-407-004
±2.96 Acres
±38,784 SF
Office Building 1990, Residential Facililtes 1975 - 2003
C-P (Office and Professional)
±30,389 SF
±4.70 Acres (all sites combined)
On S. Rainbow Blvd., S of W. Sahara Ave.: ±48,000 CPD
PAGE 9 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice.
rent roll
As of January 1, 2018
Address Tenant Rentable
SF % of Total Start End Lease Type (2) Annual Inc.$/SF/ Month
(3)Monthly
Base RentFirst Year w/ Increase
(4) (5)
Office Building2975 S. Rainbow Blvd. 38,784 56.07% 01/01/15 12/31/29 Absolute NNN (5) $0.75 $51,555.57 $618,666.84
5660 N. Dapple Rd. 3,300 4.77% 01/01/15 12/31/29 Absolute NNN (5) $0.75 2855 Montessouri St. 3,902 5.64% 01/01/15 12/31/29 Absolute NNN (5) $0.75 3382 Montessouri St. 4,234 6.12% 01/01/15 12/31/29 Absolute NNN (5) $0.75 3141 S. Pioneer Way 3,128 4.52% 01/01/15 12/31/29 Absolute NNN (5) $0.75 1525 Red Rock St. 4,166 6.02% 01/01/15 12/31/29 Absolute NNN (5) $0.75 2975 S. Tenaya Way 4,105 5.93% 01/01/15 12/31/29 Absolute NNN (5) $0.75 1355 Westwind Rd. 4,169 6.03% 01/01/15 12/31/29 Absolute NNN (5) $0.75 3270 Westwind Rd. 3,385 4.89% 01/01/15 12/31/29 Absolute NNN (5) $0.75
Occupied 69,173 100.00% $0.75 $51,555.57 $618,666.84Vacant 0 0.00%
Total RSF 69,173 100.00% $618,666.84Notes:
(2) The lease is a true absolute net lease to the Landlord. Tenant pays all operating costs, repairs, maintenance and replacements directly at their own cost and expense.(3) The rental rate shown is the average monthly rate based on the contracted monthly rent negotiated for the entire portfolio of properties included in the one lease. (4) Rents were annualized from October 1, 2017 to September 30, 2018 to include projected increases that occur every January 1st.(5) Annual Increases are calculated based on the lesser of 1.5% or 1.25 times the previous year's increase in the CPI, the annual base rent increase was calculated using 1.5%(6) Lease provides the Tenant with Four (4) - Five (5) Year Renewal Options, with the same annual rent adjustment as the original term.
(1) American Addition Centers (NYSE: AAC) acquired Solutions Recovery, Inc and received assignment of their lease effective May 3, 2016 through the entity Solutions Treatement Center, LLC . The lease includes an unconditional guaranty by American Addiction Centers, Inc. with execution of the Guaranty by its holding company AAC Holdings, Inc.
Solution Treatment Center, LLC (1)
Base Rent
Net Operating Income:
Residential Rehabilitation Facilities
PAGE 10 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ProPerty Photos - offiCe
PAGE 11 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ProPerty Photos - residential faCilities
1355 Westwind Road
1525 Red Rock Street
2855 Montessouri Street 2975 South Tenaya Way
3141 South Pioneer Way 3270 Westwind Road
3382 Montessouri Street
5660 North Dapple Gray Road
PAGE 12 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
residential faCilities maP
5660 North Dapple Gray Road - Parcel 125-29-405-012• 3,300 SF • 2 Story House • Year Built 2003• 1.03 Acre • 2 Car Garage • 4 Bedrooms• 3 Bathrooms • Den Area • Loft Area2855 Montessouri Street - Parcel 163-10-606-009• 3,902 SF • 2 Story House • Year Built 1975• 0.47 Acre • 3 Car Garage • 5 Bedrooms• 5 Bathrooms • Pool • Pool House3382 Montessouri Street - Parcel 163-15-510-002• 4,234 SF • 2 Story House • Year Built 1987• 0.28 Acre • 3 Car Garage • 5 Bedrooms• 4 Bathrooms • Pool • Sports Court3141 South Pioneer Way - Parcel 163-10-402-003• 3,128 SF • 2 Story House • Year Built 1980• 0.54 Acre • 2 Car Garage • 5 Bedrooms• 4 Bathrooms • Loft • Pool1525 Red Rock Street - Parcel 163-01-201-005• 4,166 SF • 1 Story House • Year Built 1982• 0.53 Acre • 5 Bedrooms • 4 Bathrooms• Den, Wet-bar • Resort Style Backyard • Pool2975 South Tenaya Way - Parcel 163-10-304-007• 4,105 SF • 1 Story House • Year Built 1977• 0.49 Acre • 2 Car Garage • 4 Bedrooms• 3 Bathrooms • RV Parking • Pool1355 Westwind Road - Parcel 163-01-105-013• 4,169 SF • 1 Story House • Year Built 1977• 0.88 Acre • 2 Car Garage • 4 Bedrooms• 3 Bathrooms • Pool • Sprinkling System3270 Westwind Road - Parcel 163-12-407-004• 3,385 SF • 1 Story House • Year Built 1983• 0.48 Acre • 2 Car Garage • 5 Bedrooms• 3 Bathrooms • Pool • Secluded Yard
1
2
3
4
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7
8
OFFICE BUILDING
PAGE 13 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
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131.65131.65 121.83
117.58
132.1136.48
148.25148.42
131.65131.71
131.71 116.95
131.49 121.86
148.25
195.53
231.
8
201.62
207.64
199.62
148.6
131.49
148.6
117.79
40
40
75.06 209.08
53.1
7
183.74
160.98
151.87
141.
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136.81
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40.0
2
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57
151.68
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194.
29
196.69
32.4
215.21
176.
34
72.59
152.
74
218.03 69.64
24
170.
7364
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101.
44
203.23
101.
1587
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100
203.23
100
103.
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26
26
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24
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24
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22 22
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26
24
26
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22
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23.5
663.
35
27.5
25.525.5
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134.
26
273.24
447.
12
134.
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248.85
26
R=20 R=20 100 100 203.57 R=20
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146.62
146.56
151.52 137.68 151.52
151.44
127.19136.16
151.59
136.85137.79
303.2 303.21
200.1
200.1
101 101 101.15
303.19
188.71
200.1103.1
151.46
60
151.7 151.7103.22
101.13 101.14 101.13
80.69
151.74
103.22 101.11 101.11 86.58
R=20
303.43
60
60
143.83
143.73
106.76
118.85
143.92 151
245 R=25
302
270.86
117.33 151
185.96
50
R=25
133
133
151.5
151.5
203.21
30 30
30
R=20
30
30
R=20
R=20
27.5
25.5
25.5
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2020
2020
2020
119.
4
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129.
214
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15
99.4
78.7
6
97.9
97.9
130.
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147.
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2.62
89.3
110
911
0.17
94.6
4
1
1
PM 1-4PM 3-82
PM 10-47
PM 6-82
PM 1-72
PM 2-64
PM 3-60
PM 59-65
PM 2-91
PM 45-43
PM 77-32
PM 13-21
PM 3-5PM 8-21
PM 42-40PM 5-99
PM 51-39
SF 26-6
SF 26-7
PM 3-57
PM 46-432-A
167.41
156.
77
151.52PM 23-25COURTNEY ESTATES
148.
79
EL CHOLLA COURTCALICO HILLS ESTATES
710
PM 57-21
SF 25-51
PM 1-11
PM 4-57 SF 26-36151
298.
41
SF 26-35
SF 26-36
PM 40-4
PM 80-61PM 1-71
PM 11-5410
0
PM 1-52PM 48-69
PM 1-69
PM 75-36
PM 1-89
PM 9-100PM 17-31
PM 47-8
PM 59-1
PM 2-69
PM 2-70
704
PM 5-41
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016
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0.76
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0091.06
NO
TES
This map is for assessment use only and does NOT represent a survey.
No liability is assumed for the accuracy of the data deliniated herein.Information on roads and other non-assessed parcels may be obtainedfrom the Road Document Listing in the Assessor's Office.
This map is compiled from official records, including surveys and deeds,but only contains the information required for assessment. See therecorded documents for more detailed legal information.
MA
PLE
GE
ND
USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL
ASSESSOR'S PARCELS - CLARK CO., NV.
Scale: 1" = 200 ' 02/08/2011
T21S R60E 10 N 2 SE 4 163-10-7
31
30
19
1
1314
121110987
6 5 4 3 2
3635343332
29 28 27 26
24
25
23222120
18 17 16 15
BO
OK
SEC
.
MA
P
2
3
4
5
6
7
8
1
2
3
4
51
8
7
5
6
4 8
417
PARCEL BOUNDARYSUB BOUNDARY
ROAD EASEMENTPM/LD BOUNDARY
HISTORIC LOT LINEMATCH / LEADER LINE
ROAD PARCEL NUMBERPARCEL NUMERACREAGE
PARCEL SUB/SEQ NUMBER
PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER
10010011.00
202PB 24-45
55
GL5
HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY
15
8 4
Rev:
TAX DIST
0 200 400 600 800100 SECTION LINE
CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL
176
190192
124126 125
136 138137 139
161162163164165
174 177 178
191194 193
123127
175
140
Michele W. Shafe - Assessor
>
5
"
301
705706
701702
703711
707
LAFITE CT
LATOUR CT
MO
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025
027
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035
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48
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48
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76
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151.63 136.15
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85
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2
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28
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79
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03
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92
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77
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1
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199.97
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131.65131.65 121.83
117.58
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131.71 116.95
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148.25
195.53
231.
8
201.62
207.64
199.62
148.6
131.49
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75.06 209.08
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179
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5718
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48
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3
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2
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57
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29
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34
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74
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22 22
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26
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447.
12
134.
2642
3.33
248.85
26
R=20 R=20 100 100 203.57 R=20
50
146.62
146.56
151.52 137.68 151.52
151.44
127.19136.16
151.59
136.85137.79
303.2 303.21
200.1
200.1
101 101 101.15
303.19
188.71
200.1103.1
151.46
60
151.7 151.7103.22
101.13 101.14 101.13
80.69
151.74
103.22 101.11 101.11 86.58
R=20
303.43
60
60
143.83
143.73
106.76
118.85
143.92 151
245 R=25
302
270.86
117.33 151
185.96
50
R=25
133
133
151.5
151.5
203.21
30 30
30
R=20
30
30
R=20
R=20
27.5
25.5
25.5
25.523.5 27.5
R=25
40
2020
2020
2020
119.
4
127.
8414
7.97
143.17
129.
214
8.34
146.
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178.
15
99.4
78.7
6
97.9
97.9
130.
0514
7.99
147.
9912
2.62
89.3
110
911
0.17
94.6
4
1
1
PM 1-4PM 3-82
PM 10-47
PM 6-82
PM 1-72
PM 2-64
PM 3-60
PM 59-65
PM 2-91
PM 45-43
PM 77-32
PM 13-21
PM 3-5PM 8-21
PM 42-40PM 5-99
PM 51-39
SF 26-6
SF 26-7
PM 3-57
PM 46-432-A
167.41
156.
77
151.52PM 23-25COURTNEY ESTATES
148.
79
EL CHOLLA COURTCALICO HILLS ESTATES
710
PM 57-21
SF 25-51
PM 1-11
PM 4-57 SF 26-36151
298.
41
SF 26-35
SF 26-36
PM 40-4
PM 80-61PM 1-71
PM 11-5410
0
PM 1-52PM 48-69
PM 1-69
PM 75-36
PM 1-89
PM 9-100PM 17-31
PM 47-8
PM 59-1
PM 2-69
PM 2-70
704
PM 5-41
940708:922
016
940708:922940708:922
940708:922
9407
08:9
22
940708:922
151.67
PM 52-59PM 10-2
PM 49-61
031029
017
026 043
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024
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045
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034
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0030.53
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0.540040.51
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0081.06
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0.76
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0060.55
0070.55
0050.55
0100.57
0010.55
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0160.46012
0.510110.48
0100.48
0070.48
0060.54
0050.51
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0101
0070.5
0170.55
0030.5
0020.5
0150.54016
0.550010.54
0160.56
0150.55
0010.53
0020.56 018
0.49
0091.06
NO
TES
This map is for assessment use only and does NOT represent a survey.
No liability is assumed for the accuracy of the data deliniated herein.Information on roads and other non-assessed parcels may be obtainedfrom the Road Document Listing in the Assessor's Office.
This map is compiled from official records, including surveys and deeds,but only contains the information required for assessment. See therecorded documents for more detailed legal information.
MA
PLE
GE
ND
USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL
ASSESSOR'S PARCELS - CLARK CO., NV.
Scale: 1" = 200 ' 02/08/2011
T21S R60E 10 N 2 SE 4 163-10-7
31
30
19
1
1314
121110987
6 5 4 3 2
3635343332
29 28 27 26
24
25
23222120
18 17 16 15
BO
OK
SEC
.
MA
P
2
3
4
5
6
7
8
1
2
3
4
51
8
7
5
6
4 8
417
PARCEL BOUNDARYSUB BOUNDARY
ROAD EASEMENTPM/LD BOUNDARY
HISTORIC LOT LINEMATCH / LEADER LINE
ROAD PARCEL NUMBERPARCEL NUMERACREAGE
PARCEL SUB/SEQ NUMBER
PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER
10010011.00
202PB 24-45
55
GL5
HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY
15
8 4
Rev:
TAX DIST
0 200 400 600 800100 SECTION LINE
CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL
176
190192
124126 125
136 138137 139
161162163164165
174 177 178
191194 193
123127
175
140
Michele W. Shafe - Assessor
PAGE 14 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
las vegas valley loCation maP
OFFICE BUILDING
PAGE 15 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
residential lease ComParables
# Area Address Rent Price Rent PSF Acres Sq. Ft. Beds Bath Pool Year Built Lease Date DOM
1 501 3381 Basque St $2,100 $0.65 0.31 3,227 4 3 Y 1983 6/9/2017 3
2 502 2130 Alexa Breanna Ct $2,600 $0.70 0.46 3,702 4 4 y 1994 2/7/2017 66
3 502 1891 Kay Lynn Ct $3,000 $0.95 0.53 3,170 4 5 Y 1987 2/13/2017 32
4 502 2244 Diamond Bar Dr $3,450 $0.80 0.56 4,337 5 4 Y 1998 4/24/2017 20
5 502 2830 Rosanna St $2,800 $0.91 0.57 3,063 4 4 Y 1976 3/1/2017 19
6 501 1964 Westwind Rd $2,300 $0.64 0.67 3,576 4 3 Y 1997 12/31/2016 43
Average $2,708 $0.78 0.52 3,513 4.2 4 - 1990 - 36Median $2,700 $0.75 0.55 3,402 4 4 - 1994 - 32
American Addiction Center Residential Rent Comps
PAGE 16 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
offiCe lease ComParablesLease Comps
# Property Name Property Address Cross Streets Property TypeCondition/TI Allowance
Lease Type
Building Size
Comp. Suite
Asking Rate
1 4530 S Decatur Blvd. On Decatur Blvd., N of Tropicana Class B Office 2nd Gen./Neg NNN 49,833 49,833 $1.35
2 5795 Rogers St On Rogers St., S of Russell Rd. Class B Office 2nd Gen./Neg NNN 73,050 36,050 $1.25
3 3016 W. Charleston Blvd. On Charleston Blvd., E of Rancho Dr. Class B Office 2nd Gen./Neg NNN (1) 107,650 17,110 $1.65
4 1909 S. Jones Blvd. On Jones Blvd., N of Sahara Ave. Class B Office 2nd Gen./Neg NNN 17,390 17,390 $0.95
5 3315 W. Spring Mountain Rd. On Spring Mountain Rd., E of I-15 Class B Office 2nd Gen./Neg NNN 24,000 24,000 $1.00
Average 28,877 $1.24
Median 24,000 $1.25
Notes(1) $0.35 deducted from lease rate to convert from a modified gross lease to a NNN lease.
PAGE 17 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
offiCe lease ComParables maP
2975 S. Rainbow Blvd.Las Vegas, NV 89146
Bldg Size: ±38,784 SFSuite Size: ±38,784 SF
$0.73/SF NNN
SUBJECT
1909 S. Jones Blvd.Las Vegas, NV 89146
Bldg Size: ±17,390 SFSuite Size: ±17,390 SF
$0.95/SF NNN
3016 W. Charleston Blvd.Las Vegas, NV 89102
Bldg Size: ±107,650 SFSuite Size: ±17,110 SF
$1.65/SF NNN
3315 W. Spring Mountain Rd.Las Vegas, NV 89102
Bldg Size: ±24,000 SFSuite Size: ±24,000 SF
$1.00/SF NNN
4530 S. Decatur Blvd.Las Vegas, NV 89103
Bldg Size: ±49,833 SFSuite Size: ±49,833 SF
$1.35/SF NNN
5795 S. Rogers St.Las Vegas, NV 89118
Bldg Size: ±73,050 SFSuite Size: ±36,050 SF
$1.25/SF NNN
PAGE 18 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
las vegas offiCe market review &west las vegas submarket review
8 CoStar Office Statistics ©2017 CoStar Group, Inc.
Las Vegas � Mid-Year 2017
Las Vegas Office MarketMid-Year 2017 – Las Vegas
Las Vegas Office Market
©2017 CoStar Group, Inc. CoStar Office Statistics 9
Class A Market Statistics Mid-Year 2017
YTD Net YTD Under Quoted
Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates
Central East Las Vegas 8 1,340,473 261,236 277,969 20.7% 24,523 0 0 $28.78 Central North Las Vegas 2 273,958 5,274 5,274 1.9% 0 0 0 $30.00 Downtown Las Vegas 10 1,791,889 208,918 211,243 11.8% (38,460) 0 0 $35.08 North Las Vegas 0 0 0 0 0.0% 0 0 0 $0.00 Northwest Las Vegas 18 1,948,675 445,626 447,464 23.0% 35,104 0 57,966 $24.91 SE Las Vegas/Henderson 3 296,443 146,140 146,140 49.3% 36,825 78,800 0 $26.73 South Las Vegas 22 1,728,957 155,573 172,490 10.0% 11,399 0 58,195 $22.81 Southwest Las Vegas 18 2,937,185 173,155 191,340 6.5% 228,307 180,000 22,900 $26.45 West Las Vegas 5 623,655 195,972 195,972 31.4% 9,361 0 0 $25.44
Totals 86 10,941,235 1,591,894 1,647,892 15.1% 307,059 258,800 139,061 $26.98
Source: CoStar Property®
Class B Market Statistics Mid-Year 2017
YTD Net YTD Under Quoted
Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates
Central East Las Vegas 173 5,087,016 1,066,634 1,098,483 21.6% (58,805) 0 14,705 $17.67 Central North Las Vegas 49 1,422,330 90,728 90,728 6.4% 6,721 0 0 $18.22 Downtown Las Vegas 63 2,492,278 102,985 102,985 4.1% 59,303 0 0 $23.23 North Las Vegas 148 1,994,501 233,896 233,896 11.7% 17,915 0 0 $15.65 Northwest Las Vegas 352 7,237,585 1,166,611 1,166,611 16.1% 85,721 11,051 9,663 $18.07 SE Las Vegas/Henderson 82 1,209,095 211,329 211,579 17.5% (36,258) 6,500 10,500 $15.00 South Las Vegas 526 9,838,182 1,396,292 1,424,448 14.5% 108,082 0 88,705 $17.59 Southwest Las Vegas 510 8,223,638 1,325,131 1,377,954 16.8% 40,512 72,000 119,378 $19.28 West Las Vegas 395 6,372,618 720,499 821,699 12.9% 92,566 0 6,665 $15.13
Totals 2,298 43,877,243 6,314,105 6,528,383 14.9% 315,757 89,551 249,616 $17.75
Source: CoStar Property®
Class C Market Statistics Mid-Year 2017
YTD Net YTD Under Quoted
Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates
Central East Las Vegas 475 2,739,646 354,504 354,504 12.9% 16,926 0 0 $12.16 Central North Las Vegas 91 661,903 26,692 26,692 4.0% 12,747 0 0 $16.40 Downtown Las Vegas 252 935,659 121,546 121,546 13.0% 10,737 0 0 $18.01 North Las Vegas 59 450,612 55,132 55,132 12.2% 4,124 0 0 $15.37 Northwest Las Vegas 179 928,280 22,400 22,400 2.4% 1,149 0 0 $13.56 SE Las Vegas/Henderson 71 461,701 67,910 74,134 16.1% (16,953) 0 0 $13.91 South Las Vegas 214 1,179,294 149,176 149,176 12.6% (19,253) 0 0 $14.49 Southwest Las Vegas 56 402,012 46,809 46,809 11.6% 24,411 0 0 $11.35 West Las Vegas 148 824,570 65,293 65,293 7.9% 8,572 0 0 $13.86
Totals 1,545 8,583,677 909,462 915,686 10.7% 42,460 0 0 $13.77
Source: CoStar Property®
Total Office Market Statistics Mid-Year 2017
YTD Net YTD Under Quoted
Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates
Central East Las Vegas 656 9,167,135 1,682,374 1,730,956 18.9% (17,356) 0 14,705 $18.67 Central North Las Vegas 142 2,358,191 122,694 122,694 5.2% 19,468 0 0 $18.06 Downtown Las Vegas 325 5,219,826 433,449 435,774 8.3% 31,580 0 0 $26.46 North Las Vegas 207 2,445,113 289,028 289,028 11.8% 22,039 0 0 $15.63 Northwest Las Vegas 549 10,114,540 1,634,637 1,636,475 16.2% 121,974 11,051 67,629 $20.02 SE Las Vegas/Henderson 156 1,967,239 425,379 431,853 22.0% (16,386) 85,300 10,500 $18.25 South Las Vegas 762 12,746,433 1,701,041 1,746,114 13.7% 100,228 0 146,900 $17.75 Southwest Las Vegas 584 11,562,835 1,545,095 1,616,103 14.0% 293,230 252,000 142,278 $19.75 West Las Vegas 548 7,820,843 981,764 1,082,964 13.8% 110,499 0 6,665 $16.76
Totals 3,929 63,402,155 8,815,461 9,091,961 14.3% 665,276 348,351 388,677 $19.02
Source: CoStar Property®
Vacancy
Existing Inventory Vacancy
Existing Inventory Vacancy
Existing Inventory
Existing Inventory Vacancy
Figures at a Glance
24 CoStar Office Statistics ©2017 CoStar Group, Inc.
Las Vegas – Mid-Year 2017
Las Vegas Office MarketMarket Highlights – Class “A, B & C”
W e s t L a s V e g a s M a r k e t
Deliveries, Absorption & Vacancy Historical Analysis, All Classes
Source: CoStar Property®
Vacant Space Quoted Rental RatesHistorical Analysis, All Classes Historical Analysis, All Classes
Source: CoStar Property® Source: CoStar Property®
Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates
2017 2q 548 7,820,843 1,082,964 13.8% 80,982 0 0 1 6,665 $16.76
2017 1q 548 7,820,843 1,163,946 14.9% 29,517 0 0 0 0 $16.87
2016 4q 548 7,820,843 1,193,463 15.3% (19,955) 0 0 0 0 $16.58
2016 3q 548 7,820,843 1,173,508 15.0% 111,005 0 0 0 0 $16.83
2016 2q 548 7,820,843 1,284,513 16.4% (9,687) 0 0 0 0 $17.25
2016 1q 548 7,820,843 1,274,826 16.3% 111,401 0 0 0 0 $18.35
2015 4q 548 7,820,843 1,386,227 17.7% 135,167 0 0 0 0 $16.82
2015 3q 547 7,807,427 1,507,978 19.3% 88,857 0 0 1 13,416 $16.73
2015 2q 547 7,807,427 1,596,835 20.5% 162,142 1 204,796 1 13,416 $17.44
2015 1q 546 7,602,631 1,554,181 20.4% 11,585 1 5,024 2 218,212 $18.87
2014 4q 545 7,597,607 1,560,742 20.5% 8,622 0 0 2 209,820 $17.58
2014 3q 545 7,597,607 1,569,364 20.7% (220,674) 0 0 1 204,796 $17.10
2014 2q 545 7,597,607 1,348,690 17.8% 12,807 0 0 1 204,796 $15.56
2014 1q 545 7,597,607 1,361,497 17.9% (77,446) 0 0 1 204,796 $16.14
2013 4q 545 7,597,607 1,284,051 16.9% (33,639) 0 0 1 204,796 $15.01
2013 3q 545 7,597,607 1,250,412 16.5% 90,529 0 0 1 204,796 $15.30
Source: CoStar Property®
UC InventoryDelivered InventoryExisting Inventory Vacancy
(0.250)
(0.200)
(0.150)
(0.100)
(0.050)
0.000
0.050
0.100
0.150
0.200
0.250
2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q
Millions
SF
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Perce
nt V
aca
nt
Delivered SF Absorption SF Vacancy
$15.50
$16.00
$16.50
$17.00
$17.50
$18.00
$18.50
2016 1q 2016 3q 2017 1q
Dollars
/SF/Y
ear
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
2016 1q 2016 3q 2017 1qM
illions
SF
Direct SF Sublet SF
PAGE 19 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
area demograPhiCs (1 mile radius)Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 1 mile radius Latitude: 36.13546
Longitude: -115.24306
Summary Census 2010 2016 2021Population 7,279 8,063 8,659Households 2,694 2,975 3,171Families 1,928 2,091 2,220Average Household Size 2.69 2.70 2.72Owner Occupied Housing Units 2,117 2,222 2,350Renter Occupied Housing Units 577 753 821Median Age 47.1 49.0 50.0
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.44% 1.43% 0.84%Households 1.28% 1.30% 0.79%Families 1.20% 1.28% 0.72%Owner HHs 1.13% 1.29% 0.73%Median Household Income 3.31% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 288 9.7% 298 9.4%$15,000 - $24,999 259 8.7% 255 8.0%$25,000 - $34,999 215 7.2% 240 7.6%$35,000 - $49,999 345 11.6% 180 5.7%$50,000 - $74,999 519 17.4% 543 17.1%$75,000 - $99,999 348 11.7% 424 13.4%$100,000 - $149,999 480 16.1% 613 19.3%$150,000 - $199,999 289 9.7% 350 11.0%$200,000+ 233 7.8% 267 8.4%
Median Household Income $66,432 $78,169Average Household Income $94,575 $103,954Per Capita Income $36,093 $39,229
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 287 3.9% 303 3.8% 326 3.8%5 - 9 302 4.1% 340 4.2% 356 4.1%10 - 14 381 5.2% 380 4.7% 424 4.9%15 - 19 437 6.0% 395 4.9% 398 4.6%20 - 24 402 5.5% 462 5.7% 422 4.9%25 - 34 722 9.9% 836 10.4% 937 10.8%35 - 44 862 11.8% 860 10.7% 936 10.8%45 - 54 1,189 16.3% 1,184 14.7% 1,103 12.7%55 - 64 1,358 18.7% 1,539 19.1% 1,579 18.2%65 - 74 808 11.1% 1,100 13.6% 1,345 15.5%75 - 84 396 5.4% 499 6.2% 643 7.4%
85+ 134 1.8% 165 2.0% 188 2.2%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 5,397 74.1% 5,610 69.6% 5,680 65.6%Black Alone 340 4.7% 440 5.5% 520 6.0%American Indian Alone 37 0.5% 44 0.5% 49 0.6%Asian Alone 750 10.3% 986 12.2% 1,215 14.0%Pacific Islander Alone 23 0.3% 31 0.4% 37 0.4%Some Other Race Alone 447 6.1% 591 7.3% 731 8.4%Two or More Races 286 3.9% 361 4.5% 428 4.9%
Hispanic Origin (Any Race) 1,219 16.7% 1,568 19.4% 1,879 21.7%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 1 of 6
Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 1 mile radius Latitude: 36.13546
Longitude: -115.24306
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Ann
ual R
ate
(in
perc
ent) 3
2.5
2
1.5
1
0.5
0Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
18
16
14
12
10
8
6
4
2
00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K9.7%
$15K - $24K8.7%
$25K - $34K7.2%$35K - $49K
11.6%
$50K - $74K17.4%
$75K - $99K11.7%
$100K - $149K16.1%
$150K - $199K9.7%
$200K+7.8%
2016 Population by Race2016 Population by Race
Perc
ent
65605550454035302520151050
White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 19.4%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 2 of 6
PAGE 20 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
area demograPhiCs (3 mile radius)Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 3 mile radius Latitude: 36.13546
Longitude: -115.24306
Summary Census 2010 2016 2021Population 194,110 203,566 215,664Households 76,012 78,740 82,890Families 45,159 46,565 48,920Average Household Size 2.54 2.57 2.59Owner Occupied Housing Units 36,336 34,560 36,045Renter Occupied Housing Units 39,676 44,180 46,845Median Age 37.6 38.7 39.1
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.16% 1.43% 0.84%Households 1.03% 1.30% 0.79%Families 0.99% 1.28% 0.72%Owner HHs 0.84% 1.29% 0.73%Median Household Income 2.64% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 10,310 13.1% 11,005 13.3%$15,000 - $24,999 9,851 12.5% 9,942 12.0%$25,000 - $34,999 10,774 13.7% 12,146 14.7%$35,000 - $49,999 12,548 15.9% 8,291 10.0%$50,000 - $74,999 15,469 19.6% 17,122 20.7%$75,000 - $99,999 9,030 11.5% 10,574 12.8%$100,000 - $149,999 6,881 8.7% 8,952 10.8%$150,000 - $199,999 1,997 2.5% 2,649 3.2%$200,000+ 1,879 2.4% 2,208 2.7%
Median Household Income $43,937 $50,056Average Household Income $59,430 $64,947Per Capita Income $23,557 $25,506
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 12,013 6.2% 11,934 5.9% 12,751 5.9%5 - 9 11,191 5.8% 11,440 5.6% 11,939 5.5%10 - 14 11,471 5.9% 11,239 5.5% 11,896 5.5%15 - 19 12,085 6.2% 11,473 5.6% 11,542 5.4%20 - 24 13,780 7.1% 14,182 7.0% 14,128 6.6%25 - 34 29,390 15.1% 31,303 15.4% 33,136 15.4%35 - 44 27,307 14.1% 26,871 13.2% 28,722 13.3%45 - 54 27,939 14.4% 27,249 13.4% 26,379 12.2%55 - 64 23,407 12.1% 26,023 12.8% 27,343 12.7%65 - 74 14,604 7.5% 19,094 9.4% 22,422 10.4%75 - 84 8,142 4.2% 9,380 4.6% 11,624 5.4%
85+ 2,780 1.4% 3,378 1.7% 3,781 1.8%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 114,174 58.8% 111,407 54.7% 110,078 51.0%Black Alone 17,589 9.1% 20,344 10.0% 22,819 10.6%American Indian Alone 1,398 0.7% 1,476 0.7% 1,543 0.7%Asian Alone 22,228 11.5% 25,968 12.8% 30,409 14.1%Pacific Islander Alone 1,375 0.7% 1,470 0.7% 1,613 0.7%Some Other Race Alone 27,979 14.4% 32,177 15.8% 37,134 17.2%Two or More Races 9,368 4.8% 10,724 5.3% 12,066 5.6%
Hispanic Origin (Any Race) 60,715 31.3% 68,882 33.8% 77,623 36.0%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 3 of 6
Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 3 mile radius Latitude: 36.13546
Longitude: -115.24306
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Ann
ual R
ate
(in
perc
ent)
2.5
2
1.5
1
0.5
0Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
14
12
10
8
6
4
2
0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K13.1%
$15K - $24K12.5%
$25K - $34K13.7%
$35K - $49K15.9%
$50K - $74K19.6% $75K - $99K
11.5%
$100K - $149K8.7%
$150K - $199K2.5%
$200K+2.4%
2016 Population by Race2016 Population by Race
Perc
ent
50
45
40
35
30
25
20
15
10
5
0White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 33.8%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 4 of 6
PAGE 21 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
area demograPhiCs (5 mile radius)Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 5 mile radius Latitude: 36.13546
Longitude: -115.24306
Summary Census 2010 2016 2021Population 409,934 432,938 461,820Households 161,169 168,108 178,386Families 96,747 100,414 106,179Average Household Size 2.53 2.56 2.58Owner Occupied Housing Units 78,516 75,219 79,173Renter Occupied Housing Units 82,653 92,889 99,212Median Age 37.3 38.4 38.7
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.30% 1.43% 0.84%Households 1.19% 1.30% 0.79%Families 1.12% 1.28% 0.72%Owner HHs 1.03% 1.29% 0.73%Median Household Income 2.22% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 20,818 12.4% 22,184 12.4%$15,000 - $24,999 19,600 11.7% 19,792 11.1%$25,000 - $34,999 21,178 12.6% 23,874 13.4%$35,000 - $49,999 25,627 15.2% 16,975 9.5%$50,000 - $74,999 32,163 19.1% 35,552 19.9%$75,000 - $99,999 21,543 12.8% 25,191 14.1%$100,000 - $149,999 16,752 10.0% 21,805 12.2%$150,000 - $199,999 5,135 3.1% 6,777 3.8%$200,000+ 5,291 3.1% 6,235 3.5%
Median Household Income $47,570 $53,097Average Household Income $64,604 $70,799Per Capita Income $25,505 $27,735
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 26,309 6.4% 26,211 6.1% 28,059 6.1%5 - 9 24,847 6.1% 25,264 5.8% 26,331 5.7%10 - 14 24,864 6.1% 24,862 5.7% 26,136 5.7%15 - 19 25,602 6.2% 24,767 5.7% 25,214 5.5%20 - 24 28,112 6.9% 30,093 7.0% 30,202 6.5%25 - 34 61,643 15.0% 65,159 15.1% 71,059 15.4%35 - 44 59,193 14.4% 58,182 13.4% 61,700 13.4%45 - 54 58,811 14.3% 58,419 13.5% 57,092 12.4%55 - 64 48,576 11.8% 54,361 12.6% 57,631 12.5%65 - 74 30,287 7.4% 39,844 9.2% 46,818 10.1%75 - 84 16,311 4.0% 19,022 4.4% 23,766 5.1%
85+ 5,379 1.3% 6,754 1.6% 7,813 1.7%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 243,518 59.4% 239,831 55.4% 238,991 51.7%Black Alone 41,265 10.1% 47,742 11.0% 53,834 11.7%American Indian Alone 2,772 0.7% 2,934 0.7% 3,075 0.7%Asian Alone 43,837 10.7% 51,733 11.9% 61,334 13.3%Pacific Islander Alone 3,001 0.7% 3,231 0.7% 3,578 0.8%Some Other Race Alone 55,294 13.5% 64,010 14.8% 74,337 16.1%Two or More Races 20,247 4.9% 23,456 5.4% 26,671 5.8%
Hispanic Origin (Any Race) 119,101 29.1% 136,387 31.5% 154,912 33.5%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 5 of 6
Demographic and Income Profile2975 S Rainbow Blvd, Las Vegas, Nevada, 89146 Prepared by EsriRing: 5 mile radius Latitude: 36.13546
Longitude: -115.24306
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Ann
ual R
ate
(in
perc
ent)
2.22
1.81.61.41.2
10.80.60.40.2
0Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
14
12
10
8
6
4
2
0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K12.4%
$15K - $24K11.7%
$25K - $34K12.6%
$35K - $49K15.2%
$50K - $74K19.1%
$75K - $99K12.8%
$100K - $149K10.0%
$150K - $199K3.1%
$200K+3.1%
2016 Population by Race2016 Population by Race
Perc
ent
55
50
45
40
35
30
25
20
15
10
5
White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 31.5%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
June 09, 2017
©2016 Esri Page 6 of 6
PAGE 22 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
After a 31-1 approval vote to move to Las Vegas, the Oakland Raiders recently closed on a 62-acre parcel adjacent to the Las Vegas Strip that will house the new $1.9 billion stadium set to open in 2020. The project was unanimously recommended to the legislature by an 11-member committee that included executives from six casino businesses that make money from legal sports gambling — Caesars Entertainment, Boyd Gaming, MGM Resorts International, Wynn Resorts, Las Vegas Sands Corp. and Station Casinos.
A state-backed economic impact report shows a total economic output of $620 million, as well as $35 million new tax dollars each year.
https://www.usatoday.com/story/sports/nfl/raiders/2017/05/03/raiders-stadium-las-vegas-has-deep-ties-gambling-industry/101210714/
"Create a world-class center of excellence and innovation for medical education, patient care, and research that prepares Nevada’s physicians with the most advanced knowledge, treatments, and technologies while serving the health care needs of our diverse urban community."
The UNLV School of Medicine will be a full-scale, four-year medical school with a mission to improce access to high -quality health care in Southern Nevada. The accompanying academic health center will serve as the core infrastructure for the entire medical community.
https://www.unlv.edu/medicine/about
las vegas market overview
newest las vegas develoPments
Las Vegas Raiders Stadium UNLV School of Medicine
PAGE 23 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
Sitting on eight acres just behind MGM Grand Hotel & Casino, Topgolf is the only entertainment venue of its kind, opening its doors to the public in May 2016. Top Golf boasts 108 climate-controlled hitting bays, two pools, cabanas, a concert venue, VIP suites, five bars, special event spaces, a comfort food-inspired menu with creative beverage offerings, a Callaway Fitting Studio, a Topgolf retail shop, and more. Spanning four levels and 105,000 square feet, the Topgolf flagship location in Las Vegas stands as the biggest Topgolf venue to date.
The venue is expected to serve upward of one million guests in its first year of operation and has already created more than 850 full- and part-time positions.
TOP GOLF
Las Vegas’ newest gaming property, the Asian-themed Lucky Dragon Hotel & Casino, celebrated its grand opening on the North end of the Las Vegas Strip in December 2016. The new boutique hotel will offer a 10-story hotel tower housing 203 rooms, a 27,500 square foot casino with 478 slot machines, and a 446-space parking garage. Other amenities include Asian-inspired restaurants, a spa, an indoor tea garden, and a pool for hotel guests.
The Lucky Dragon is the first all-new hotel to open on the Las Vegas Strip recently. Most of the signage due to reside at the property will be in Chinese as a reflection of the true Asian cultural and gaming experience. Lucky Dragon’s opening comes just in time for the start of non-stop flights from Beijing to Las Vegas.
LUCKY DRAGON HOTEL & CASINO
T-MOBILE ARENA THE PARK LAS VEGAS
MGM Resorts International’s new $100 million outdoor dining and entertainment district named The Park Las Vegas is located between New York-New York and Monte Carlo resorts in front of the brand-new 20,000 seat T-Mobile Arena opened in April 2016.
The Park boasts a range of restaurants and bars, including the Shake Shack, California Pizza Kitchen, Beerhaus, the Japanese restaurant Sake Rok and the waffle restaurant Bruxie. Other highlights of the park include two 100-foot long water walls at the entry of The Park and other water features, trees with wide-reaching branches and natural landscaping utilizing native and desert-adaptive plants, towering shade structures, patio-style seating, seating alcoves, a 40-foot-tall sculpture of a dancing woman named Bliss Dance, and more.
T-Mobile Arena is a $375 million 650,000-square-foot, state-of-the-art stadium that opened in April 2016. This multi-purpose arena was a joint venture between MGM Resorts International and the Anschutz Entertainment Group (AEG). Located just west of the Las Vegas Strip between New York-New York and Monte Carlo, this 20,000-seat T-Mobile Arena will host exciting, world-class events with something for everyone – from UFC, boxing, hockey, basketball and bull riding to high-profile awards shows, major headline entertainment, concerts, family shows and special events.
With a 200-foot-wide video mesh wall and telescopic seats to customize sightlines, the T-Mobile Arena incorporates some groundbreaking technology. The venue will have numerous VIP experiences, highlighted by Hyde Lounge, an exclusive nightclub with unrivaled views of all the sports and entertainment action below.
las vegas market overview
reCently ComPleted major develoPments
PAGE 24 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
LV GLOBAL BUSINESS DISTRICTLas Vegas Convention Center will be renovated and expanded into a $2.3 billion Las Vegas Global Business District. Planned in four phases, new facilities will replace the 26-acre Riviera Hotel (closed in 2015 and demolished in 2016), adding an additional 1.8 million square-foot of exhibit and meeting space. The next phases will completely revamp the inside and outside of the facility, add new transportation hubs, green spaces, and a street of retail and entertainment outlets.
THE LAS VEGAS MONORAILThe Las Vegas Monorail, located on the Strip, is a 3.9-mile, 7-station transit system whose track begins at the SLS and ends at the MGM Grand. Other stops include The Westgate, Las Vegas Convention Center, Harrah’s & The LINQ, Flamingo & Caesars Palace, and Bally’s & Paris. This travel system is one of the best options to connect guests to the great hotels, casinos, restaurants, and shopping along the Vegas Strip. The Monorail also offers elevated Strip views and eliminates the hassle of traffic congestion.
Clark County commissioners recently approved a 1-mile extension to the Monorail that would add Mandalay Bay onto the transit-stop map. This expansion is rumored to begin in the second quarter of 2017.
MONTE CARLOOne of the newest transformations occurring in Las Vegas is the conversion of the Monte Carlo into two hotels: 2,700-room luxury resort Park MGM and 292-room hotel NoMad Las Vegas. This $450 million makeover is projected to be completed by the end of 2018. The new resort will feature two hotels (NoMad Hotel & Park MGM), redesigned rooms, an Italian market Eataly with cafes, walk-up counters and dine-in restaurants. The properties will have amenities such as dining and casinos as well as a 5,300-seat theater at the Park MGM.
Fronting this project is MGM Resorts and New York-based Sydell Group, the group who introduced the NoMad in New York, The Line in Los Angeles, Freehand in Miami and Chicago, and Saguaro in Scottsdale and Palm Springs, California. The transformation of the Monte Carlo comes from a plan to reenergize the west side Strip area between the Bellagio and New York-New York.
las vegas market overview
Planned develoPments
PAGE 25 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
RESORT WORLD LAS VEGAS
Resorts World Las Vegas is a $4 billion Strip resort project with a heavy Asian theme planned for the North Strip. Resorts World broke ground on the project on May 5, 2015 and will begin full-scale construction towards the end of 2016.
Resorts World, a Chinese themed resort developed by the Genting Group, is being built at the former site of the Stardust and Echelon. Genting, which bought the site from Boyd in 2013 for $350 million, will be using the partially constructed Echelon structures for this property. With a projected opening set for early 2019, the initial phase will have 3,100 rooms, a 100,000-square-foot casino, shops and restaurants spread across its 88-acre site. Plans for a 4,000 seat showroom, an observation deck, and panda habitat are on hold for the initial construction phase.
WYNN PARADISE PARK
Wynn Resorts Ltd. is building its third hotel behind its two Las Vegas casinos, an ambitious lake and fantasy island project called Wynn Paradise. The $1.6 billion resort will take the place of the golf course and feature 1,000 rooms around a 38-acre lagoon and 250,000 square feet of meeting space. The lake will have a white sandy beach, a boardwalk, water skiing and paddle boating, islands accessible by zip lines or a gondola, a nightly fireworks display, and an 8-story King Kong climbing a mountain in the lake. There will be a small casino, restaurants and nightclubs. Construction should start next year with a 2020 debut.
las vegas market overview
Planned develoPments
PAGE 26 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
HYPERLOOPHyperloop One has moved into the Las Vegas Valley as swiftly as it travels. The 105,000 square foot manufacturing plant is being constructed at a 50-acre site near Apex Industrial Park in North Las Vegas, with goals of being the testing facility for Hyperloop Technologies, Inc.
The principle of this “fifth mode of transportation” involves transporting levitated capsules through tubes at speeds up to 750. At such speeds, a Las Vegas-Los Angeles trip could take under a half hour. The company expects to be commercially ready by 2021, and hopes to identify three initial routes by 2017.
las vegas market overview
Planned develoPments
PAGE 27 OF 27AMERICAN ADDICTION CENTER PORTFOLIO
ContaCt team
Cathy Jones, CPA, SIOR, CCIMCEO
Jennifer LehrSenior Associate
Exclusively listed by Sun Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148
702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com
Jessica CegavskeVice President702-968-7321
Roy FritzSenior Vice President