SVN The Kase Group Sears Outlet Net Leased Offering Las Vegas, NV Best Offer Offering Highlights Actual Site Photo Sears Outlet Net Leased Offering Minimal Landlord Obligations Recently Renovated Strong Demographics Corporate Guarantee - NASDAQ: SHOS Well Situated on a High Traffic Thoroughfare Surrounded by Major Retailers Including McDonald s, Albertson s, Walmart, Lowe s and 7-Eleven Jeff Gates Senior Advisor 415.602.6339 jgates@svn.com BRE#01768554 Dan Gluhaich Nevada Broker of Record 408.201.0120 dgluhaich@interorealestate.com BRE#00963076
SVN The Kase Group Disclaimer Confidentiality The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Sperry Van Ness or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Property Owner ( Owner ) in connection with the sale of the Property is the Sperry Van Ness Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Sperry Van Ness. Neither the Sperry Van Ness Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Sperry Van Ness with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the Sperry Van Ness Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the Sperry Van Ness Advisor, nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the Sperry Van Ness Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
SVN The Kase Group CONTENTS PROPERTY OVERVIEW Offering Highlights Executive Summary Tenant Summary FINANCIAL OVERVIEW Financial Summary LOCATION OVERVIEW Location Maps Aerial Photo Property Photos DEMOGRAPHICS Demographics Report Demographics Map
SVN The Kase Group PROPERTY OVERVIEW Offering Highlights Executive Summary Tenant Summary
Offering Highlights Sears Outlet Net Leased Offering Minimal Landlord Obligations Recently Renovated Strong Demographics Corporate Guarantee - NASDAQ: SHOS Well Situated on a High Traffic Thoroughfare Surrounded by Major Retailers Including McDonald s, Albertson s, Walmart, Lowe s and 7-Eleven
Executive Summary 4854 W Lone Mountain Rd Las Vegas, NV 89130 Investment Overview Sale Price: Unpriced Net Operating Income: $375,000 Building Size: 62,620 SF Lot Size: 5.26 AC Year Built: 1993; Renovated in 2013 Property The subject offering is a net leased Sears Outlet. The five year lease commenced on 7/25/13 with two 5-year options to renew with 10% increases at each option. The building was renovated in 2013 with nearly $1,000,000 in improvements. The landlord is responsible for roof, structure and HVAC. The asset is well situated on a commercial thoroughfare in Northern Las Vegas. Location Las Vegas, officially the City of Las Vegas and often known as simply Vegas,is the most populous city in the state of Nevada, the county seat of Clark County, and the city proper of the Las Vegas Valley. Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, fine dining and nightlife and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its mega casino hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 29th-most populous city in the United States, with a population of 603,488 at the 2013 United States Census Estimates. The 2013 population of the Las Vegas metropolitan area was 2,027,828. The city is one of the top three leading destinations in the United States for conventions, business, and meetings. In addition, the city s metropolitan area has more AAA Five Diamond hotels than any other city in the world, and is a global leader in the hospitality industry. Today, Las Vegas is one of the top tourist destinations in the world.
Tenant Summary Corporate Information Headquarters: Hoffman Estates, IL Locations: 143 Revenue: $610 Million Website: www.searsoutlet.com Tenant Highlights Over 143 Locations Across the Country A Segment of Sears Hometown and Outlet Stores A Leader in Sales of New, Reconditioned, Overstocked, Damaged or Discontinued Products Online and in Stores Tenant Overview Sears Outlet is an outlet store that sells new, reconditioned, overstock, scratch & dented, and discontinued products online and through brick and mortar stores in the USA and Puerto Rico. Each store, on average, is larger than 18,000 square feet in size.sears Outlet s product range includes refrigerators, washers & dryers, ovens, air conditioners, home appliances, lawn and garden equipment, apparel, sporting goods, tools, household goods, and consumer electronics. Sears Outlet is a segment of Sears Hometown and Outlet Stores. In 1968, Sears opened a surplus store in Kansas City. This was the first of its kind operated by the Sears brand. The purpose of this store was to be able to liquidate returned items. Sears continued to open Surplus stores throughout the USA until 1993. In 1994, the surplus stores were renamed to Sears Outlet. In 1995, Sears Outlet restructured in order to manage repairs and product distribution from a centralized location. To do this, they established a series of facilities known as Outlet Repair and Distribution Centers. In 2015, there were 22 of these centers in operation. In 2008, Apparel was introduced to Sears Outlet stores and served as a liquidation outlet for Lands End. In 2009, SearsOutlet.com was launched as an e-commerce platform allowing customers to purchase items online and in 2011, nationwide delivery was offered. In 2012, Sears Hometown and Outlet Stores was spun off from Sears Holdings. At the time of the separation, there were 122 Sears Outlet Stores in operation. As of February 1, 2014, Sears Outlet stores have expanded its operations to 143 locations.
SVN The Kase Group FINANCIAL OVERVIEW Financial Summary
Financial Summary 4854 W Lone Mountain Rd Las Vegas, NV 89130 Building SF: 62,620 Lot Size: 5.26 AC Year Built: 1993/ Renovated in 2013 Type of Lease: NN Tenant Name GLA Lease Begin Lease End Annual Rent Increases Options Sears Outlet 62,620 SF 7/25/13 8/1/2018 $375,000 Rent Increases Tenant has Stores, LLC 10% at Two 5-year each Option Renewal Options Operating Summary Current Option 1 Option 2 Net Operating Income $375,000 $412,500 $453,750s *After Reconciliation there is approximately $25,000 in additional income
SVN The Kase Group LOCATION OVERVIEW Location Maps Aerial Photo Property Photos
Location Maps
Aerial Photo
Property Photos
SVN The Kase Group DEMOGRAPHICS Demographics Analysis Demographics Map
Demographics Analysis 1 Mile 3 Miles 5 Miles Total Population 14,117 132,090 370,588 Total Number of Households Total Number of Persons per Household Average House Value Average Household Income 5,308 45,562 127,924 2.7 2.9 2.9 $251,023 $273,984 $288,693 $80,243 $77,357 $73,274 Median Age Median Age - Male Median Age - Female 43.6 36.6 34.5 42.8 35.5 33.7 43.6 37.4 35.3 Total Population - White Total Percent - White 10,418 85,702 239,122 73.8% 64.9% 64.5% Total Population - Black Total Percent - Black 1,804 21,576 61,101 12.8% 16.3% 16.5% Total Population - Asian Total Percent - Asian 543 7,928 20,927 3.8% 6.0% 5.6% Total Population - Hawaiian Total Percent - Hawaiian 58 784 2,516 0.4% 0.6% 0.7% Total Population - Indian Total Percent - Indian 17 654 2,240 0.1% 0.5% 0.6% Total Population - Other Total Percent - Other 730 9,450 25,935 5.2% 7.2% 7.0% Total Population - Hispanic Total Percent - Hispanic 2,339 30,137 100,984 16.6% 22.8% 27.2% * Demographic information provided by BuildOut, Inc.
Demographics Map 4854 W Lone Mountain Rd Las Vegas, NV 89130 Radius Map 1 Mile 3 Miles 5 Miles Total Population 14,117 132,090 370,588 Total Number of Households 5,308 45,562 127,924 Average Household Income $80,243 $77,357 $73,274 Median Age 43.6 36.6 34.5 * Demographic information provided by BuildOut, LLC
SVN The Kase Group PRESENTED BY Jeff Gates Senior Advisor 415.602.6339 jgates@svn.com BRE#01768554 Dan Gluhaich Nevada Broker of Record 408.201.0120 dgluhaich@interorealestate.com BRE#01768554 2013 All rights reserved