Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE TO CIRCLE K
» New 15-year absolute NNN ground lease to an investment-grade tenant, rated “BBB” by Standard & Poor’s
» 10% rental increases every five (5) years including option periods
» Circle K is one of the largest chains of company-owned convenience stores in the United States, with over 14,200 locations
» Brand new 2023 high-quality construction featuring a freestanding Circle K convenience store with six (6) canopied gas pumps, for added customer convenience

HARD-CORNER LOCATION IN LAS VEGAS
» Hard-corner location with excellent visibility and access to a combined 89,500 vehicles per day at the signalized intersection
» Prime location near Interstate 15 (97,500 AADT) and SR 604/Las Vegas Boulevard North (23,100 AADT)
» 327,521 residents (17% growth since 2010) with an average annual household income of $71,842 within five miles
» Average annual household income is projected to increase 20% by 2027, poising North Las Vegas and Circle K for significant concurrent growth
» Well-positioned near Nellis US Air Force Base, home to over 14,000 military and civilian personnel and an important economic driver in the region, with an estimated economic impact of over $5 billion per year

PRIME LOCATION WITH STRONG NEARBY DEMAND
» Situated near several car rental locations as well as over a dozen hotels within a three-mile radius, increasing traffic in the area
» Near large area employers such as North Las Vegas VA Medical Center (90-beds, 1,000+ employees)
» Beneficial proximity to large warehouses and distribution centers, making it convenient to meet the fuel needs and demands of the neighboring workforce and commercial trucks
» Nearby UPS Warehouse serves as a regional hub for UPS operations in the Southwest United States and is one of the largest employers in North Las Vegas with over 1,500 employees
» Located within the state-designated “Opportunity Zone,” providing tax incentives for businesses investing in the area

Property Description

» The property is located on a hard corner with high visibility and easy access to a combined 89,500 vehicles per day at the signalized intersection. It is also situated near Interstate 15 and SR 604/Las Vegas Boulevard North, with a total average daily traffic count of 120,600 vehicles
» The property is located within five miles of 327,521 residents with an average annual household income of $71,842, and the five-mile population has grown 17% since 2010 (on track with North Las Vegas growth of 20% since 2010)
» The average annual household income is projected to increase by 20% by 2027, which positions the property and North Las Vegas for significant concurrent growth
» The property is well-positioned near Nellis U.S. Air Force Base, which has over 14,000 military and civilian personnel and an estimated economic impact of over $5 billion per year. It is also near several car rental locations, over a dozen hotels within a three-mile radius, and large warehouses and distribution centers, which all contribute to increasing traffic in the area
» The property is located near large area employers such as North Las Vegas VA Medical Center (90-beds, 1,000+ employees) and the nearby UPS Warehouse, which serves as a regional hub for UPS operations in the Southwest United States and is one of the largest employers in North Las Vegas with over 1,500 employees