Lake Mead MaRkeTPLaCe

I N V E S T M E N T O F F E R I N G M E M O R A N D U M

E X C L U S I V E L Y O F F E R E D B Y :

6110-6190 W. Lake Mead BLvd., Las vegas, Nv

L ake Mead M aRkeTPL aCe

2 L a k e m e a d m a r k e t p L a c e

D I S c l A I M E R

The information which will be contained in the Offering Memorandum is confidential, furnished solely for the purpose of a review by a prospective purchaser of the Lake Mead Marketplace (6110-6190 W. Lake Mead Blvd., Las Vegas, Nevada) (the “Property”), and is not to be used for any other purpose or made available to any other person without the express written consent of Voit Commercial Brokerage or Hanley Investment Group (“Broker”). The material is based in part upon information supplied by the Owner, and in part upon information obtained by the Broker from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by Owner, Broker, or any affiliates thereof, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. Prospective purchasers should make their own projections and conclusions without reliance upon the material contained in the Offering Memorandum and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material used in the construction or maintenance of the buildings located at the site.

The Offering Memorandum contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition, and other external factors beyond the control of the Owner and Broker, and therefore are subject to material change or variation. An opportunity to inspect the Property will be made available to qualified prospective purchasers.

In the Offering Memorandum certain documents, including leases and other materials, are described in summary form. The summaries do not allege to be complete, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.

The Offering Memorandum is subject to prior placement, errors, omissions, changes, or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the value of the Property by the Broker or the Owner. Each prospective purchaser is to rely upon its own investigation, evaluation, and judgment as to the advisability of purchasing the Property described herein.

The Owner expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived. The Broker is not authorized to make any representations or agreements on behalf of Owner.

The Offering Memorandum is the property of the Broker and may be used only by parties approved by Broker and Owner. The Property is privately offered and by executing this agreement you agree to: (i) to return it to Broker immediately upon request of the Broker or Owner, and (ii) that the Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of the Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Broker and Owner. The terms and conditions set forth above apply to this Offering Memorandum in its entirety.

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INVESTMENT HIGHlIGHTS

• Grocery Anchored Shopping center; 85% credit Tenants: Lake Mead Marketplace is anchored by Albertsons, which represents 71% of the total property square footage. Albertsons, one of the largest grocery chains in the nation with over 2,500 stores in 37 states, is the dominant grocery store in the trade area and has occupied space at the property since 1995. Additional national and regional credit tenants in the offering include Blockbuster Video, Jackson Hewitt Tax Service, Port of Subs, Pizza Hut, Colortyme Rent-To-Own, and The UPS Store.

• Outstanding las Vegas location: Lake Mead Marketplace is ideally situated at the signalized intersection of Lake Mead Blvd. and Jones Blvd. in the dynamic market of Las Vegas, Nevada. Average traffic counts at this intersection are in excess of 58,000 cars per day. The subject property is easily accessible, with four points of ingress/egress, and is situated on two of the main retail thoroughfares in the area. Lake Mead Marketplace benefits from exceptional exposure and visibility, including monument signage along both Lake Mead Blvd. and Jones Blvd.

• Below Market Rents; Upside potential: Lake Mead Marketplace offers a tremendous opportunity to significantly increase the value of the property by raising existing rents and leasing the remaining vacancies. The current average rental rate at the subject property is $1.28 per square foot. Average market rental rates for comparable space in the area are approximately $2.25-$3.00 per square foot. The 16,480 square foot former CVS Pharmacy space is included under the Albertsons lease and provides a prospective investor upside potential to find a replacement tenant with the security of the rent for the space guaranteed until 2020.

• priced Below Replacement cost: The offering presents a prospective investor with a unique opportunity to own a grocery anchored shopping center built in 1995 priced below replacement cost at $207 per square foot.

• Excellent Demographics and Retail Trade Area: Lake Mead Marketplace is located in an extremely attractive location for national and regional credit retailers. Neighboring credit tenants include Bed Bath and Beyond, Best Buy, Borders, Burger King, McDonald’s, Office Depot, Rite Aid, Sports Authority, Starbucks, Walgreens, and Wal-Mart. Over 188,000 residents live within a 3-mile radius of the subject property, and the average household income is in excess of $59,000.

OFFERING SUMMARy

pROjEcT NAME: Lake Mead Marketplace

ADDRESS: 6110-6190 W. Lake Mead Blvd.

Las Vegas, NV 89108

pRIcE: $22,560,000

DOwN pAyMENT: $7,896,000 (35%)

cApITAlIzATION RATE: 7.00%

cASH-ON-cASH RETURN: 8.67%

NET RENTABlE AREA (NRA): 108,794 Sq. Ft.

pRIcE pER Sq. FT. (NRA): $207.00

yEAR BUIlT: 1995

lOT SIzE: 9.01 Acres

FINANcING SUMMARy (proposed)

65% lOAN TO VAlUE: $14,664,000

35% DOwN pAyMENT: $7,896,000

INTEREST RATE: 6.25%

AMORTIzATION: 30 Years, Due in 10 Years

Contact listing agents for further details.


R E N T R O l l

TENANT SUITESqUAREFOOTAGE

lEASE START

lEASE EXpIRATION

RENT/ Sq. FT.

MONTHlyRENT INcREASES

lEASETypE OpTIONS cOMMENTS

Blockbuster Video 6110 6,510 10/01/94 09/30/09 $1.17 $7,604.00 None NNN Seven 5-year @ 15% Every 5 Years

Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 8% Admin Fee (CAM) CAM (Excluding Utilities) Capped at 10% Increase per Year

Jackson Hewitt Tax Service 6122 2,140 07/01/07 04/30/12 $2.36 $5,052.00 7/09 - $5,254 7/10 - $5,464 7/11 - $5,683

NNN None Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM, Taxes, Insurance)

Port of Subs 6124 1,494 02/01/00 01/31/10 $1.97 $2,950.00 2/09 - $3,040 NNN One 5-year @ Fair Market Value

Reimburses Pro-Rata Share of CAM, Taxes, Insurance & Management 5% Admin Fee (CAM)

China Joes 6126 1,218 03/01/06 02/28/11 $2.25 $2,740.00 3/09 - $2,822 3/10 - $2,907

NNN None Reimburses Pro-Rata Share of CAM, Taxes, Insurance & Management 10% Admin Fee (CAM, Management)

Pacific Sun Tan 6128 1,218 09/01/05 08/31/10 $2.28 $2,778.00 9/08 - $2,861 9/09 - $2,947

NNN TBD Reimburses Pro-Rata Share of CAM, Taxes, Insurance & Management 10% Admin Fee (CAM, Management)

Pizza Hut 6130 1,216 11/01/05 10/31/09 $1.87 $2,271.00 11/08 - $2,316 NNN Two 4-year @ 2% Annual Increases

Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 10% Admin Fee (CAM, Insurance) CAM (Excluding Utilities) Capped at 5% Increase per Year

TNT Nails #2 6132 1,218 04/01/00 03/31/10 $2.15 $2,615.00 4/09 - $2,695 NNN One 5-year @ Fair Market Value

Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM, Taxes, Insurance)

Dr. Robert Pearson 6134 1,559 05/01/06 04/30/09 $2.28 $3,557.00 None NNN Two 3-year @ Fair Market Value


Sabol Chiropractic 6136 1,384 02/01/95 02/28/10 $2.37 $3,285.00 3/09 - $3,314 NNN None Reimburses Pro-Rata Share of CAM, Taxes, Insurance & Management 10% Admin Fee (CAM, Management)

Albertsons 6140 60,479 02/15/95 02/29/20 $0.97 $58,921.82 None NNN Six 5-year @ Same Term & Conditions

Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM) Tenant pays Percentage Rent of 1.25% over Natural Breakpoint 2005 Sales - $15,109,345 ($249.83 Per Square Foot)

CVS (1) (Dark)

6140 16,480 02/15/95 02/29/20 $0.97 $16,055.68 None NNN Six 5-year @ Same Term & Conditions

Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM)

Available 6160 1,803 TBD TBD $2.25 $4,056.75 TBD NNN TBD Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM, Taxes, Insurance)

Colortyme Rent-To-Own 6164 2,826 02/01/00 01/31/10 $2.08 $5,885.00 2/09 - $6,060 NNN One 5-year @ Fair Market Value


Miracle Cleaners 6168 1,101 11/01/05 03/31/10 $2.45 $2,696.00 4/09 - $3,390 NNN One 5-year @ Fair Market Value

Reimburses Pro-Rata Share of CAM, Taxes, Insurance & Management 10% Admin Fee (CAM, Management)

The UPS Store 6170 1,224 02/01/00 01/31/10 $2.20 $2,695.00 2/09 - $2,816 NNN One 5-year @ Fair Market Value


Shadia Beauty Salon 6172 1,424 04/15/06 04/15/11 $2.02 $2,875.00 4/09 - $2,990 4/10 - $3,110

NNN One 5-year @ Fair Market Value


Available 6190 5,500 TBD TBD $2.50 $13,750.00 TBD NNN TBD Reimburses Pro-Rata Share of CAM, Taxes & Insurance Does not Reimburse Management 15% Admin Fee (CAM, Taxes, Insurance)

TOTAl SqUARE FOOTAGE: 108,794

TOTAl AVAIlABlE: 7,303 (7% Vacancy)

TOTAl OccUpIED: 101,491 (93% Occupancy)

(1) CVS is Dark. Albertsons & CVS are in separate spaces, but they are both under one lease.



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ANNUAlIzED OpERATING DATA

july 2008

Scheduled Gross Income: $1,683,678

Expense Reimbursement: $319,866

Sign Income: $3,000

Total Operating Income: $2,006,544

* Vacancy (5%): ($26,332)

Gross Operating Income: $1,980,212

Total Operating Expenses: ($400,898)

Net Operating Income (NOI): $1,579,314 7.00% capitalization Rate

* Excludes Albertsons/CVS, Blockbuster Video, Jackson Hewitt Tax Service, Pizza Hut, Port of Subs, Colortyme Rent-To-Own, The UPS Store.

OpERATING EXpENSES

Amount $/Square Foot

Common Area Maintenance: $143,613 $1.32

Utilities: $59,301 $0.55

Insurance: $18,772 $0.17

Taxes (1.10%): $117,806 $1.08

Management: $59,406 $0.55

Total Expenses: $400,898 $3.68 Annually per SF

$0.31 Monthly per SF


T E N y E A R c A S H F l O w A N A l y S I S

ScHEDUlE OF pROSpEcTIVE cASH FlOwIN INFlATED DOllARS FOR THE FIScAl yEAR BEGINNING 7/1/2008

year 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10 year 11For the years Ending jun-2009 jun-2010 jun-2011 jun-2012 jun-2013 jun-2014 jun-2015 jun-2016 jun-2017 jun-2018 jun-2019

Potential Gross Revenue Base Rental Revenue $1,683,678 $1,818,556 $1,880,788 $1,892,130 $1,894,719 $1,941,607 $1,975,137 $2,072,218 $2,092,783 $2,120,105 $2,173,436 Absorption & Turnover Vacancy ($168,852) ($19,839) ($11,766) ($43,329) ($106,530) ($22,757) ($8,770) ($22,451) ($52,717)

Scheduled Base Rental Revenue $1,683,678 $1,649,704 $1,860,949 $1,880,364 $1,894,719 $1,898,278 $1,868,607 $2,049,461 $2,084,013 $2,097,654 $2,120,719 CPI & Other Adjustment Revenue $8,547 $21,995 $49,166 $79,880 $67,434 $74,299 $34,413 $54,999 $79,959 $83,465 Expense Reimbursement Revenue $319,866 $312,244 $337,303 $348,108 $359,990 $365,908 $370,475 $390,801 $404,130 $415,094 $424,627 Sign Rental Income $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000

Total Potential Gross Revenue $2,006,544 $1,973,495 $2,223,247 $2,280,638 $2,337,589 $2,334,620 $2,316,381 $2,477,675 $2,546,142 $2,595,707 $2,631,811 General Vacancy ($26,332) ($72) ($9,260) ($31,461) ($32,506) ($7,635) ($12,069) ($28,157) ($30,503)

Effective Gross Revenue $1,980,212 $1,973,423 $2,213,987 $2,249,177 $2,305,083 $2,334,620 $2,308,746 $2,465,606 $2,517,985 $2,565,204 $2,631,811

Operating Expenses Repair and Maintenance $41,260 $42,498 $43,772 $45,086 $46,438 $47,831 $49,266 $50,744 $52,267 $53,835 $55,450 Landscaping $36,652 $37,751 $38,884 $40,050 $41,252 $42,489 $43,764 $45,077 $46,429 $47,822 $49,257 Janitorial $61,915 $63,772 $65,686 $67,656 $69,686 $71,776 $73,930 $76,148 $78,432 $80,785 $83,209 HVAC $3,959 $4,077 $4,200 $4,326 $4,455 $4,589 $4,727 $4,868 $5,015 $5,165 $5,320 Fire, Life, Safety $1,827 $1,882 $1,938 $1,996 $2,056 $2,118 $2,182 $2,247 $2,314 $2,384 $2,455 Utilities $59,301 $61,080 $62,913 $64,800 $66,744 $68,747 $70,809 $72,933 $75,121 $77,375 $79,696 Management Fee - 3% $59,406 $59,203 $66,420 $67,475 $69,152 $70,039 $69,262 $73,968 $75,540 $76,956 $78,954 Property Tax $117,806 $121,340 $124,980 $128,730 $132,592 $136,569 $140,666 $144,886 $149,233 $153,710 $158,321 Insurance $18,772 $19,336 $19,916 $20,513 $21,129 $21,762 $22,415 $23,088 $23,780 $24,494 $25,229

Total Operating Expenses $400,898 $410,939 $428,709 $440,632 $453,504 $465,920 $477,021 $493,959 $508,131 $522,526 $537,891

Net Operating Income $1,579,314 $1,562,484 $1,785,278 $1,808,545 $1,851,579 $1,868,700 $1,831,725 $1,971,647 $2,009,854 $2,042,678 $2,093,920

Leasing & Capital Costs Tenant Improvements $48,801 $3,279 $1,945 $3,011 $10,583 $20,859 $7,622 $4,184 $5,533 $12,268 Leasing Commissions $94,415 $5,684 $3,244 $5,295 $19,498 $40,681 $14,110 $7,472 $10,249 $23,722

Total Leasing & Capital Costs $143,216 $8,963 $5,189 $8,306 $30,081 $61,540 $21,732 $11,656 $15,782 $35,990

Cash Flow Before Debt Service $1,579,314 $1,419,268 $1,776,315 $1,803,356 $1,843,273 $1,838,619 $1,770,185 $1,949,915 $1,998,198 $2,026,896 $2,057,930

Debt Service Interest Payments $894,504 $894,504 $894,504 $889,617 $878,529 $866,746 $854,223 $840,915 $826,772 $811,742 Principal Payments $176,740 $187,828 $199,611 $212,134 $225,442 $239,585 $254,615

Total Debt Service $894,504 $894,504 $894,504 $1,066,357 $1,066,357 $1,066,357 $1,066,357 $1,066,357 $1,066,357 $1,066,357

cash Flow After Debt Service $684,810 $524,764 $881,811 $736,999 $776,916 $772,262 $703,828 $883,558 $931,841 $960,539 $2,057,930



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TEN yEAR cASH FlOw ASSUMpTIONS

Analysis Period – Start Date: 7/1/2008 (1)

Rentable Building Area (Square Footage): 108,794

Vacant Rentable Area (Square Footage): 7,303

General Vacancy: 5% (2)

Occupancy Level: 93.29%

Market Rent Growth (Annual): 3.00%

Average Lease Term (Years): 5

Operating Expense Source: Seller’s 2007 Budget

Operating Expense Growth Rate: 3.00%

Effective Tax Rate: Actual

CPI Growth Rate (Projected): 3.00%

Management Fee: 3.00%

Expense Reimbursement Methodology: NNN

Retention Rate: 75% (3)

Annual Rent Adjustment (Internal to Lease): 3.00%

NOTES(1) For financial modeling purposes, it is assumed that all tenants whose lease

expires before the end of the first year of the analysis (June 30, 2009) will continue to pay rent at the same terms and conditions until that date.

(2) Excludes Albertsons/CVS, Blockbuster Video, Jackson Hewitt Tax Service, Pizza Hut, Port of Subs, Colortyme Rent-To-Own, and The UPS Store.

(3) Albertsons - 80%


l O c A T I O N O V E R V I E w

lOcATION HIGHlIGHTS

• ExcellentLasVegaslocation-lessthanonemilefrom US Route 95

• Hardcornersignalizedlocation-averagetrafficcountsinexcessof 58,000 cars per day

• Averagehouseholdincomeisapproximately$59,000withina 3-mile radius

• Highgrowtharea-60newsinglefamilyhomesrecentlyconstructed on Jones Blvd. directly behind the property

• Populationisover188,000withina3-mileradius

• LasVegasishometo1.9millionresidentsand38.9milliontouristsper year

Las Vegas is located in the southern part of Nevada and remains the nation’s leading communities in population growth, economic development, and business expansion. Continued development, in conjunction with an increasing population base, has stimulated expansion in jobs, housing, and commercial development. 2006 saw 38.9 million visitors that generated over $3.7 billion in tourism revenues. The city continues to attract new residents each month, substantiating Las Vegas as a safe, vibrant, and livable community.

Lake Mead Marketplace is located at the signalized intersection of Lake Mead Blvd. and Jones Blvd. in Las Vegas, Nevada, where average traffic counts are in excess of 58,000 cars per day. The subject property benefits from an outstanding centralized location, less than one mile away from US Route 95 which services approximately 188,000 residents within a 3-mile radius. Lake Mead Marketplace is easily accessible with four points of ingress/egress and benefits from excellent exposure and identity including prominent signage along Lake Mead Blvd.

Sunset Rd.

Boulder Hwy.

Ranch Dr.

Tropicana Ave.

Warm Springs Rd.

Rainbow

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Buffalo Dr.

Jones Blvd.

Decatur Blvd.

Simm

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Martin Luther King Blvd.

5th St.

Eastern Ave.

Las

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Las Vegas

Blvd.

Craig Rd.

Lone Mountain Rd.

Cheyenne Ave.

Vegas Dr.

Sahara Ave.

Charleston Blvd.

Summerlin Pkwy.

Alta Dr.

Lake Mead Blvd.

Durango D

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Alexander Rd.

McCarranIntl.

Airport

N. Las VegasAirport

NellisAir Force Base

Airport

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Sunset Rd.

Boulder Hwy.

Ranch Dr.

Tropicana Ave.

Sahara Ave.

Warm Springs Rd.

Rainbow Blvd.

Jones Blvd.

Decatur Blvd.Decatur Blvd.

Eastern Ave.

Nellis Blvd.

ParadiseRd.

Las Vegas Blvd.

Las Vegas

Blvd.

Blue Diamond Rd.

St. Rose

Pkwy.

St. Louis Ave.

Lake Mead Blvd.

Craig Rd.

Windmill Pkwy.

215

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1 Available

2 Available

3 Colortyme Rent-To-Own

4 Miracle Cleaners

5 The UPS Store

6 Shadia Beauty Salon

7 CVS (Dark)

8 Albertsons

9 Jackson Hewitt Tax Service

10 Port of Subs

11 China Joes

12 Pacific Sun Tan

13 Pizza Hut

14 TNT Nails

15 Dr. Pearson (Optometry)

16 Sabol Chiropractic

17 Blockbuster Video


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T E N A N T I N F O R M A T I O N

New Albertson’s, Inc. is a wholly owned subsidiary of Eden Prairie, Minnesota-based Supervalu, a supermarket retailer that operates 532 grocery stores in Washington State, Oregon, Idaho, Montana, Wyoming, Nevada, California, and parts of Utah. Supermarket News ranked parent company Supervalu number five in the 2007 “Top 75 North American Food Retailers.”

www.albertsons.com

Blockbuster, Inc. (NYSE: BBI) is a leading global provider of in-home movie and game entertainment, with over 8,000 stores throughout the Americas, Europe, Asia, and Australia. With 2,600 of the stores outside the United States, Blockbuster is recognized as a world leader in rentable home entertainment. Blockbuster, Inc., together with its subsidiaries, operates and franchises entertainment-related stores in the United States and internationally. As of December 31, 2006, it operated 5,194 stores, including 939 franchised stores under the BLOCKBUSTER and RHINO VIDEO GAMES brands in the United States and its territories, and 3,166 stores, including 870 franchised stores under the BLOCKBUSTER brand and other brand names owned by the company located in 22 markets outside of the United States. The company was founded in 1982 and is headquartered in Dallas, Texas.

www.blockbuster.com

The UPS Store/Mail Boxes Etc., Inc. (MBE), a UPS company, franchises The UPS Store and Mail Boxes Etc. retail shops. The locations offer shipping, postal services, and other business services. In the United States, The UPS Store and Mail Boxes Etc. locations are independently owned and operated by licensed franchisees of Mail Boxes Etc., Inc. Outside the United States, locations are owned and operated by MBE master licensees or their franchisees. The network comprises approximately 5,900 shops, approximately half of which are in the USA, the remainder in approximately 40 other countries. In addition to shipping, other typical services at an MBE or UPS Store location include mailbox services, notary, packaging, shipping supplies, document services, and photocopying.

www.upsstore.com

Pizza Hut, Inc. is a restaurant chain and international franchise based in Addison, Texas. Pizza Hut specializes in the sale of American-style pizza along with side dishes. Pizza Hut is the worlds largest pizza restaurant chain and is a subsidiary of Yum! Brands, Inc., whose restaurants number approximately 34,000 restaurants, delivery-carry out units, and kiosks in 100 countries.

www.pizzahut.com

Jackson Hewitt Tax Service, Inc. prepares tax returns for customers in the United States. The company was founded in 1960 and has been selling franchises since 1986. During the 2007 tax season, its network comprised 5,802 franchised offices and 724 company-owned offices. Parsippany, New Jersey-based Jackson Hewitt is the second-largest U.S. tax preparer behind H&R Block.

www.jacksonhewitt.com

ColorTyme, Inc. is the oldest franchised rent-to-own or rental purchase company in the United States with approximately 206 traditional rent-to-own stores, one payday loan store, and seven custom wheel and tire stores for a total of 214 stores. Headquartered in Plano, Texas, ColorTyme offers customers the opportunity to own the things they want and need in a way they can afford, just as founder Willie Talley envisioned ColorTyme 26 years ago. Now in its 25th year, the company has launched an aggressive franchise development plan and is on track to grow significantly in the next five years with many of its newest locations being developed by rent-to-own professionals.

www.colortyme.com

Port of Subs is a franchise submarine sandwich shop located exclusively in the western United States. It was founded in Sparks, Nevada under the name ‘Sub Shop’ by two brothers from New Jersey. John Larsen, a Public Accountant who had been advising the brothers purchased the company in 1975 and renamed it Port of Subs after holding a community-wide contest for its name. Port of Subs now has more than 140 locations through the southwest United States. It can be found in Nevada, California, Utah, Arizona, Idaho, and Washington. The main focus of Port of Subs is freshly sliced meats and cheeses, as opposed to the pre-sliced options from competitors such as Subway. While nowhere near the size of Subway, Port of Subs is still seen somewhat frequently throughout the regions it operates in.

www.portofsubs.com



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Smoke Ranch Rd.

Lake Mead Blvd.

Vegas Dr.

Washington Ave.

Decatu

r Blvd

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Torrey P

ines D

r.

Jon

es Blvd

.

Smoke Ranch Rd.

Lake Mead Blvd.

Vegas Dr.

Washington Ave.

Decatu

r Blvd

.

Torrey P

ines D

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Jon

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.

95

95

F O R O V E R 5 0 Y E A R S



l E A S E / S A l E c O M p A R A B l E S

cOMpETITIVE SAlES SURVEycOMpETITIVE lEASE SURVEy

property AddressTotal Sq. Ft. year Built

Available Sq. Ft.Rent / Sq. Ft.

Tenants

SUBJECT PROPERTY: Lake Mead Marketplace 6110-6190 W. Lake Mead Blvd. Las Vegas, NV

108,7941995

7,303$1.28

Albertsons, Blockbuster Video, Jackson Hewitt, Pizza Hut, The UPS Store, Port of Subs

Wal-Mart Grocery Center 6151 W. Lake Mead Blvd. Las Vegas, NV

15,0002007

15,000$2.50 - $2.75

Wal-Mart Grocery, Walgreens (Newly Constructed Pad. Currently Leasing.)

Multi-Tenant Shopping Center 2003 Jones Dr. Las Vegas, NV

7,0001987

7,000$1.65

7-Eleven, Burger King, Curves (Directly Adjacent to Subject Property. Available Space is an Undeveloped Pad.)

Food 4 Less Center 1901 N. Decatur Blvd. Las Vegas, NV

99,3391980

5,000$1.75

Food 4 Less, Sally Beauty, Dollar Tree, Carl’s Jr.

Decatur Meadows Center 310-398 S. Decatur Blvd. Las Vegas, NV

111,2461978

8,161$2.00

Vons, Cort Furniture Rental, Dollar Tree, Rent A Center

Averages: 58,1461988

8,790$1.80

Subject Property : 108,7941995

7,303$1.28

property AddressTotal Sq. Ft. year Built

Sales priceprice / Sq. Ft.

cap RatecOE

Tenants

SUBJECT PROPERTY: Lake Mead Marketplace 6110-6190 W. Lake Mead Blvd. Las Vegas, NV

108,7941995

$22,560,000$207.00

7.00%TBD

Albertsons, Blockbuster Video, Jackson Hewitt, Pizza Hut, The UPS Store, Port of Subs

Winterwood Pavilion 2208-2292 S. Nellis Blvd. Las Vegas, NV

144,6531990

R-2007

$23,880,000$165.08

7.30%8/22/07

Vons, Blockbuster Video, Little Caesars Pizza, Washington Mutual, Jackson Hewitt, The UPS Store, Great Clips, FedEx Kinko’s, Panda Express, Carl’s Jr.

Centennial Crossroads Plaza 6420-6250 Sky Point Dr. Las Vegas, NV

99,0642003

$18,860,000$190.38

6.30%1/12/07

Vons, Washington Mutual, Hollywood Video, Game Crazy, Subway, T-Mobile, The UPS Store, Mail Boxes Ect.

Sunrise Marketplace 450-570 N. Nellis Blvd. Las Vegas, NV

188,1071988

R-2005

$29,500,000$156.83

6.67%9/7/06

Smith’s Food and Drug, Cingular Wireless, Pizza Hut, Washington Mutual, Quiznos, Wing Stop, Applebee’s

Desert Crossings 4810-4860 W. Desert Inn Rd. Las Vegas, NV

95,4251998

$19,000,000$199.11

6.00%8/17/06

Smith’s Food and Drug, 99 Cent Super Store, Starbucks, Subway, Mountain America Credit

Averages: 131,8121999

$22,810,000$177.85

6.57%

Subject Property: 108,7941995

$22,560,000$207.36

7.00%



DE

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cSLas Vegas is the most populous city in the state of

Nevada, the seat of Clark County, and an internationally known vacation, shopping, entertainment, and gambling destination. It was established in 1905 and officially became a city in 1911. It was the largest U.S. city founded in the 20th century.

Clark County is home to the world-famous Las Vegas Strip, heart of the Entertainment Capital of the World and site 14 of the nation’s 15 largest hotels. This jewel in the desert lures many of the 38 million tourists each year to the Las Vegas community to enjoy its world-class entertainment and hospitality, splendid casinos, fine restaurants, and dazzling array of shopping venues.

This excitement is surely a factor in the nation-leading growth of Clark County’s booming population of 1.9 million. Another factor is the high quality of life afforded by its low tax rate, wonderful business climate, great weather, friendly people, and a variety of recreational venues.

1-Mile 3-Mile 5-Milepopulation 2012 Projection 32,680 202,162 504,649 2007 Estimate 30,653 187,729 451,138 2000 Census 28,917 173,340 386,045 1990 Census 18,809 105,240 201,166 Growth 1990 - 2000 53.74% 64.71% 91.90%

Households 2012 Projection 11,817 73,265 184,992 2007 Estimate 11,088 68,311 165,795 2000 Census 10,457 63,360 142,520 1990 Census 6,966 39,222 76,221 Growth 1990 - 2000 50.11% 61.54% 86.98%

2007 Est. population by Single classification Race 30,653 187,729 451,138 White Alone 16,813 114,853 281,238 Black or African American Alone 4,763 24,666 64,614 American Indian and Alaska Native Alone 304 1,714 3,771 Asian Alone 1,628 10,359 27,230 Native Hawaiian and Other Pacific Islander Alone 242 1,362 3,224 Some Other Race Alone 5,272 25,039 48,814 Two or More Races 1,631 9,735 22,247

2007 Est. population Hispanic or latino 30,653 187,729 451,138 Hispanic or Latino 11,189 57,132 117,454 Not Hispanic or Latino 19,464 130,596 333,684

2007 Tenure of Occupied Housing Units 11,088 68,311 165,795 Owner Occupied 5,650 39,967 105,067 Renter Occupied 5,438 28,344 60,727

2007 Average Household Size 2.74 2.73 2.69

2007 Est. Households by Household Income 11,088 68,311 165,795 Income Less than $15,000 1,334 7,160 17,444 Income $15,000 - $24,999 1,252 7,216 16,580 Income $25,000 - $34,999 1,561 9,141 19,263 Income $35,000 - $49,999 2,277 12,771 28,288 Income $50,000 - $74,999 2,384 14,962 35,694 Income $75,000 - $99,999 1,246 8,181 21,114 Income $100,000 - $149,999 828 6,428 18,742 Income $150,000 - $249,999 184 1,765 5,542 Income $250,000 - $499,999 20 458 2,125 Income $500,000 and over 2 229 1,002

2007 Est. Average Household Income $52,052 $59,494 $66,0912007 Est. Median Household Income $44,202 $47,495 $50,9262007 Est. per capita Income $19,011 $21,835 $24,612

© 2007 CLARITAS INC. All rights reserved.

Sunset Rd.

Boulder Hwy.

Fremont St.

Ranch Dr.

Tropicana Ave.

Warm Springs Rd.

Rainbow

Blvd.R

ainbow Blvd.

Buffalo Dr.

Jones Blvd.

Decatur Blvd.

Simm

ons St.

Martin Luther King Blvd.

5th St.

Eastern Ave.

Paradise Rd.

Las

Vega

s B

lvd.

Las Vegas

Blvd.

St. Louis Ave.

Craig Rd.

Lone Mountain Rd.

Cheyenne Ave.

Vegas Dr.

Sahara Ave.

Charleston Blvd.

Summerlin Pkwy.

Alta Dr.

Lake Mead Blvd.

Durango D

r.

Alexander Rd.

McCarranIntl.

Airport

N. Las VegasAirport


Airport

215

215

215

215

93

95

95

95

95

15

15

Offering Summary

Project Name: Lake Mead Marketplace

Address: 6110-6190 W. Lake Mead Blvd.Las Vegas, NV 89108

Price: $22,560,000

Down Payment: $7,896,000 - 35%

Capitalization Rate: 7.00%

Cash-On-Cash Return: 8.67%

Net Rentable Area (NRA): 108,794 Sq. Ft.

Price Per Sq. Ft. (NRA): $207.00

Year Built: 1995

Lot Size: 9.01 Acres

financing Summary (prOpOSed)

65% Loan To Value: $14,664,000

35% Down Payment: $7,896,000

Interest Rate: 6.25%

Amoritization: 30 Years, Due in 10 Years

Contact Listing Agents for Further Details.

E X C L U S I V E L Y O F F E R E D B Y :

michael a. Hefner [email protected]

(714) 978-7880 (714) 978-8328 fax

3500 W. Orangewood Ave., Orange, CA 92868

2030 Main St., Ste. 1650, Irvine, CA 92614

edward B. Hanley [email protected]

eric p. Wohl [email protected]

(949) 585-7610 (949) 585-7611 fax

I N V E S T M E N T O F F E R I N G M E M O R A N D U M


Lake Mead MaRkeTPLaCe

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