Reno, NV UNIVERSITY OF NEVADA, RENO DOWNTOWN RENO MIDTOWN. S Virginia St. Washoe s Wurst. S Wells Ave OFFERING MEMORANDUM GREATER NEVADA FIELD

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1 DOWNTOWN UNIVERSITY OF NEVADA, GREATER NEVADA FIELD MIDTOWN S Virginia St Washoe s Wurst S Wells Ave SITE RENDERING OFFERING MEMORANDUM Washoe s Wurst Reno, NV

2 TABLE OF CONTENTS PROPERTY HIGHLIGHTS 1 PROPERTY INFORMATION 2 TENANT INFORMATION 3 SITE PLAN 4 AERIALS 5 ABOUT THE AREA 6 DEMOGRAPHICS 8 Disclaimer Brian Egan ( Broker ) has been retained on an exclusive basis to market the property described herein ( Property ). Broker has been authorized by the Seller of the Property ( Seller ) to prepare and distribute the enclosed information ( 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. Brian Egan Egan Commercial Real Estate NV License # brian@egancommercial.com

3 PROPERTY HIGHLIGHTS DOWNTOWN UNIVERSITY OF NEVADA, Property Highlights Long Term Absolute NNN Lease to Seasoned Restaurant Operator with ~10 Years Remaining Brand New 2018 Redevelopment Approximately 1 Mile from Downtown Reno MIDTOWN Washoe s Wurst Thriving Midtown District Adjacent to New Developments and Numerous Nightlife Tenants -- Total Daytime Population of 290,634 Approximately 2 Miles from University of Nevada, Reno (21,000+ Students) Neighbors Renown Regional Medical Center & St. Mary s Regional Medical Center, Two of Reno s Largest Employers S Wells Ave (15,500 AADT) Ideally Situated to Benefit from Reno s Strong Tourism Economy -- Adjacent to Numerous Major Casinos and Resorts -- Less than 1 Hour s Drive from Lake Tahoe No State Income Tax in Nevada 1

4 PROPERTY INFORMATION Location The property is located at 805 South Wells Avenue in Reno, Nevada. Lot Size Approximately 0.35 acres, or 15,169 square feet. PRICE $1,252, % Return Improvements Redevelopment is expected to be completed in September of 2018 of an 1,280 square foot retail restaurant building for Washoe s Wurst. Parking There is ample parking available on site. Lease Leased to T. Duncan Mitchell dba Washoe Wurst for 13 years from April 10, 2015 through December 31, 2028 at a current annual rent of $72,000. There is one (1) five-year option to renew the lease. Rent is to increase by 5% in year 7 and at option. The lease is net with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and management fee. Net Annual Income Years Annual Rent Return Current-6 $72, % 7-13 $75, % (Option 1) $79, % Financing This property will be delivered free and clear of permanent financing. 2

5 ABOUT THE TENANT WASHOE S WURST SITE RENDERING Washoe Wurst is the newest restaurant concept of successful Reno restaurant operator. Washoe s Wurst is a restaurant serving locallysourced beer, bratwurst, and other German food. The restaurant features a large outdoor dining area and is designed to serve bar patrons and restaurant guests while maintaining a familyfriendly atmosphere. Duncan Mitchell, the lessee, owns and operates several successful bars and restaurants within the Reno area, including The Chapel Tavern and the heavy-metal themed middle-eastern takeout restaurant, Schwarmageddon. 3

6 SITE PLAN CHENEY ST STREET PARKING North Patio Garden Area WASHOE S WURST 1,280 SF STREET PARKING S WELLS AVE South Patio Garden Area

7 AERIAL UNIVERSITY OF NEVADA, TR UCKEE R DOWNTOWN IV R GREATER NEVADA FIELD STICKS MT. ROSE ELEMENTARY MIDTOWN Washoe s Wurst 777 CENTER DT ) Wonder Bar A 50 5,,7 20 A 1 e( v sa 0 T) D AA Ryan s Saloon & Broiler VA Medical Center - Reno el l W S 19 St ( ni a rg i Vi E S HIGH SCHOOL Lucke s Saloon VETERANS MEMORIAL ELEMENTARY VAUGHN MIDDLE SCHOOL

8 ABOUT THE AREA General Overview Reno (population 245,255) is a city in and the county seat of Washoe County. The city is located approximately 22 miles from Lake Tahoe and is famous for its hotels and casinos, which drive a robust tourism economy. Reno is the most populous city in northern Nevada and part of the Reno-Sparks Metropolitan Statistical Area, the second most populous MSA in the state. SITE Though the city is best known for its casinos and robust tourism economy, the city additionally benefits from a broad economic base in technology, distribution and logistics, manufacturing, and more. The region was ranked first for start-up density for an MSA of its size and has seen substantial growth in the high-tech sector over the last ten years. Major companies located in the region include Braeburn Capital, Hamilton, Game Tech, International Game Technology, and more. The Tahoe Reno Industrial Center is home to Tesla s recently constructed Gigafactory and Switch s SuperNAP campus, which is expected to be the largest data center in the world once completed. Apple and Rackspace have also constructed major data center facilities in the Reno area. The city benefits from a central location with access to major west coast markets and the ability to ship next day to more than 8 western states; Reno is home to distribution facilities for Amazon, Walmart, and PetSmart.

9 ABOUT THE AREA Site Information The subject property is ideally situated with excellent visibility and access with frontage along South Wells Avenue (15,500 AADT) adjacent to South Virginia Street/US-395 (19,720 AADT), within Reno s growing Midtown retail and entertainment hub. The site benefits from robust demographics within the surrounding area with a population of 237,346 and total daytime population if 290,634 within five miles of the site. Average household income within five miles of the site is approximately $60,000. The site benefits from a prominent retail location within Reno s growing Midtown District adjacent to Downtown Reno. The property neighbors numerous small businesses, restaurants, and offices along South Wells Avenue. In addition, the site is adjacent to Central Avenue, a dense retail and entertainment corridor with numerous restaurants, bars, coffee shops, and retail tenants. The site neighbors a variety of major retail centers, including Shopper s Square, with tenants including CVS, Smart & Final Extra, and Staples; Firecreek Crossing, anchored by Walmart Supercenter, Sam s Club, TJ Maxx, and Natural Grocers; Redfield Promenade, with Nordstrom Rack, Cost Plus World Market, and Bed Bath & Beyond; Del Monte Plaza, anchored by Whole Foods; and Smithridge Plaza, anchored by Trader Joe s, CVS, and Big Lots. Numerous major retail tenants neighbor the site, including Costco, Save Mart, Lowe s Home Improvement, Hobby Lobby, Best Buy, Petco, Dollar Tree, Sportsman s Warehouse, Harbor Freight Tools, and more. In addition, the property benefits from close proximity to numerous hotels, resorts, and casinos, which draw a substantial volume of tourists to the Reno region annually. SITE The property is located approximately two miles from the University of Nevada, Reno, with a student body of 21,353. The site also neighbors several major medical facilities, drawing additional traffic adjacent to the site from patients, doctors, and staff. The property is located approximately one mile from Renown Regional Medical Center, the flagship hospital of the Renown Health system and the only level II trauma center in the region, with nearly 3,000 employees. In addition, the site is located less than half a mile from the VA Sierra Nevada Hospital, which serves veterans from more than 20 counties in northern Nevada and northeastern California, and less than two miles from St. Mary s Regional Medical center, employing nearly 1,300.

10 DEMOGRAPHICS 805 S Wells Ave Reno, NV Major Employers in Reno Washoe County School District 8, POPULATION 237,346 MEDIAN HOME VALUE $238,797 AVG. HOUSEHOLD INCOME $59,989 University of Nevada Reno 4,750 Renown Regional Medical Center 2,750 Washoe County 2,750 Population Summary 1 Mile 3 Miles 5 Miles 2010 Total Population 19, , , Total Population 20, , , Total Population 22, , , Annual Rate 1.04% 1.00% 0.97% Average Household Income 2017 $44,086 $51,454 $59, $48,107 $56,439 $65,840 Peppermill Hotel Casino Reno 2,250 Grand Sierra Resort and Casino 2,250 International Game Technology 1,750 Atlantis Hotel Casino (Golded Road Motor Inn) 1,750 Silver Legacy Resort Casino 1,750 St. Mary s (Prime Healthcare Services) 1,250 Median Home Value 2017 $200,366 $233,667 $238, $277,682 $279,550 $289,212 PRESERVE WEST CAPITAL 8

11 Brian Egan Egan Commercial Real Estate NV License #