Las Vegas Insider - November 2020 - Colliers International Las Vegas

Accelerating Success.

LAS VEGAS

INSIDER

A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS

NOVEMBER 2020

Accelerating Success.

As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.

- John Fitzgerald Kennedy

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LV RESEARCH – JOBS

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FEATURED LISTINGS

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L AS VEGAS IN THE NEWS

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FEATURED DEALS

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DISRUPTION 2020 – INDUSTRIAL PACE

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LV PROPERT Y MANAGEMENT SHINES

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UPCOMING DECEMBER CALENDAR

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L AS VEGAS BY THE NUMBERS

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BROKER CONNECTION

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U.S. MARKET INSIGHTS – OFFICE

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L AS VEGAS DIRECTORY

COLLIER S PROFESSIONAL S ARE HELPING COMPANIES MOVE FORWARD BEC AUSE WE

see what could be.

L A S VEG A S RESE ARCH

JOBSWHAT WE LOST!

We have September job numbers now, and they do show improvement in the Valley in most sectors, though not all. The job situation has been improving since April, but the job gains have been stubbornly slow, no doubt due to continued disruption of business as usual – and especially due to the disruption of the hospitality industry, especially in terms of conventions.

Comparing September job numbers to March numbers – the last pre-business closure numbers we had – reveals some surprises. The industrial real estate market, for example, is doing quite well in the Valley,

NOVEMBER 2020

so it is slightly surprising that the sector is still down 17,467 jobs, after losing 30,642 jobs from March to

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April. By comparison, the office sector lost 18,928 jobs from March to April, and in September is down 6,930. To put it another way, office has regained 63 percent of the jobs it lost, while industrial has only regained 43 percent of its lost jobs.

John Matt Stater Research & GIS Manager, SW Las Vegas - john.stater@colliers.com

The retail sector lost 26,351 jobs between

This points to the bifurcation we have

March and April, and is still down 8,653 jobs,

noted in the industrial world – between the

regaining 67 percent of the lost jobs. Medical

massive logistics buildings that are in high

office lost 3,284 jobs between March and

demand and the smaller buildings occupied

April, and is still down 846 job, regaining 74

by small businesses. The transportation and

percent of those lost jobs.

warehousing sector lost 2,400 jobs between April and May, but has regained 5,100 jobs

The industrial sector, which is seeing high

from May to September, meaning a net gain

levels of net absorption, has regained the

since the business closures.

fewest number of jobs among sectors.

Note that these numbers are based on

The e-commerce businesses are hungry for

where people actually work, not on the

workers to support the massive increases

classification of the industry in which they

in online retail shopping that have occurred

work – i.e. industrial jobs means jobs in

since the business closures. This is also good

industrial buildings.

news for the industrial real estate sector in aggregate, as the occupancy of a 350,000

The key weak spots in industrial jobs appears to be in construction; the Valley not only lost 7,100 construction jobs since April, it has lost 1,200 since May, when most industries began seeing job growth.

Specialty trade contractors are down 4,800 jobs since April, and 1,200 jobs since May; building foundation and exterior contractors are down 1,800 jobs since April, and 100 jobs since May; and building finishing contractors are down 2,100 jobs since April, but fortunately up 600 jobs since May. The numbers are better for manufacturing jobs and wholesale jobs, and much better for logistics jobs.

square foot logistics building displaces a whole lot of vacated 5,000 square foot light industrial units. The losers of this shift will likely be the office and retail sectors, who rely on paying customers to pay their rent, and who will have fewer industrial workers as paying customers until the economy sees some overall improvement.

Job gains have been stubbornly slow, no doubt due to continued disruption of business as usual!

COLLIERS INTERNATIONAL LAS VEGAS

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FEATURED LISTINGS

4455 Paradise Road Chris Clifford, Steve Neiger, CCIM and Brett Rather •

Retail lease opportunities at Virgin Hotels Las Vegas

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±1,055 SF – ±3,025 SF available for lease

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Opening January 15, 2021

3125 Marco Street Chris Lane, SIOR, CCIM, Jerry Doty, SIOR, Paul Sweetland, SIOR and Dan Doherty, SIOR •

±75,000 SF industrial/warehouse suite available

•

Cheyenne Industrial Center is located in the North Las Vegas submarket

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Lease Rate: $0.52 PSF NNN

5252 Ricky Road

NOVEMBER 2020

Suzette LaGrange, CCIM and Kara Walker, CCIM

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•

±2,630 SF building on ±0.85 acres available

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Newly renovated with large yard area

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Sale Price: $747,000 / Lease Rate: $4,153/Mo Net

5385 Wynn Road, Suite B Brian Riffel, SIOR and Tyler Jones •

±24,634 SF available

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±7,000 SF office (two-story) and corporate office layout

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Lease Rate: $0.79/PSF (NNN)

5375 Procyon Street Dean Willmore, SIOR, Stacy Shapiro, CCIM, Mike Willmore and Lauren Willmore •

For Lease: ±20,000 SF Warehouse/Distribution space

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Located in the heart of the Stadium District

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Lease Rate: $0.75/PSF (NNN)

1.89 acres of land Steven Haynes •

±1.89 acres of land

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Residential parcel within the Northwest portion of Las Vegas

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Asking Price: $415,500

COLLIERS INTERNATIONAL LAS VEGAS

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LV

In the news.

Colliers | Las Vegas Introduces Leasing Opportunities For Multiple Spaces At Virgin Hotels Las Vegas November 23 – CRE Confidential Las Vegas

Colliers | Las Vegas Donates $10,000 To The Las Vegas Rescue Mission For Its Holiday Toy Drive November 19 – CRE Confidential Las Vegas

NEED PRESS?

Get the news out!

Executive Managing Director Of Colliers Las Vegas Promoted To Chairman November 16 – CRE Confidential Las Vegas

Reach out and let us know the good news.

New listings, properties just sold/leased, team news, etc! Help us, help you.

NOVEMBER 2020

Holiday Cheer.

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Doherty Industrial Group at Colliers Las Vegas Sells Final Industrial Unit at Matter Business Park November 12 – Nevada Business Magazine

Helping provide hundreds of families in need with toys for the holiday season.

$

5,000

LINKS FOR LIFE FOUNDATION LAS VEGAS Colliers International and the Links For Life Foundation is proud to support Nevada Childhood Cancer Foundation Project A.R.K. Their services provide help to 4,600 Southern Nevada families.

READ MORE

The Strength of the U.S. Industrial Sector Persevered in the Third Quarter As many real estate sectors remain challenged by the ongoing pandemic, the U.S. industrial sector continued to persevere through the third quarter.

Overall net absorption remained positive with occupancy gains of nearly 165 million square feet year-to-date, 3.3% higher than the same period a year ago.

Third quarter absorption of 57.2 million square feet was up 35.3% over the second quarter, which was expected to be a strikingly slow quarter.

IAOP Webinar 2025 Future Scenarios for Office The International Association of Outsourcing Professionals (IAOP) hosted a 60-minute, complimentary webinar exploring implications of four different future scenarios ranging from options to resemble a pre-COVID-19 environment to alternatives that focus on a purely

Workplace Expert Colliers’ Workplace Expert helps businesses take the first steps in shaping their future workplace strategy. A quick and easy way to explore your ideal work environment.

digitized office experience.

VIEW INTER ACTIVE SITE

COLLIERS INTERNATIONAL LAS VEGAS

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U.S. FLEXIBLE WORKSPACE REPORT

November 2020

Workspace Spotlight.

The Flexible Workspace Report 2020 explores the dual impacts of COVID-19 and the continued growth of flexible workspace on occupier strategies in our new normal.

We review the common health and safety measures operators are implementing, what options landlords have for delivering flexible workspace, what impacts flexible workspace may have on building valuations, among other topics. With roughly 20,000 flexible workspaces worldwide and IWG (3,300) and WeWork (848) accounting for less than a combined 25% of total inventory, the continued demand for flexible workspace has welcomed new players and operating models across the globe. Many predict the inventory share of flexible workspace of the total office stock to accelerate as the

NOVEMBER 2020

number of flexible workspaces double or triple over the next five years – despite a

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temporary setback from the COVID-19 pandemic.

Francesco DeCamilli Vice President, Flexible Workplace francesco.decamilli@colliers.com

Good News For Las Vegas.

RE AD MORE

RE AD MORE

RE AD MORE

DOWNTOWN LAS VEGAS LIGHTS ARCHES

LAS VEGAS RECRUITING REMOTE TECH WORKERS

$59M WIDENING OF ROUTE 160

80-FOOT-TALL GLITTERING ARCHES

SAN FRANCISCO & SEATTLE TARGETS

TWO YEAR PROJECT IS COMPLETE

Las Vegas is known worldwide as the

Las Vegas wants to be your next

The 6-mile widening project serves as the

getaway for the best in entertainment

work-from-home office

main connector between LV & Pahrump

OP TIMIZE YOUR PROPERT Y M A N AGEMENT Successful management of your real estate requires skillful stewardship of the physical space, tenant relationships and your reputation in the marketplace.

COLLIERS INTERNATIONAL LAS VEGAS

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NOVEMBER 2020

FEATURED DEALS Industrial Lease A lease to The United States Postal Service. The ±117,450 square foot industrial property is located at 6650 Spencer Street, Suite 100 & 110 in Las Vegas. Grant Traub, SIOR, Chris Connell, SIOR, Dean Willmore, SIOR, Alex Stanisic, Mike Willmore, Lauren Willmore and Stacy Shapiro, CCIM of Colliers International represented the landlord, Spencer Street Investors, LLC.

Industrial Lease A lease to Red Carpet Moving, Inc. The ±10,869 square foot industrial property is located in Mesa Vista Business Center at 3955 West Mesa Vista Avenue, Suite A-13 in Las Vegas.

Spencer Pinter of Colliers International represented the landlord, Mesa Vista Business Center LLC.

Industrial Lease A lease to Safe Life Defense L.L.C. The ±137,225 square foot industrial property is located in Matter Park @ West Henderson at 1379 Raiders Way in Henderson. Dan Doherty,

NOVEMBER 2020

SIOR, Paul Sweetland, SIOR and Jerry Doty, SIOR of Colliers

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International represented the landlord, Centra Gateway Corporate Center LLC. Chris Lane, SIOR, CCIM of Colliers International represented the tenant.

Industrial Sale A sale to Rockstream Properties, LLC. The ±6,170 square foot industrial property is located in Traverse Pointe Commerce Center at 1172 Wigwam Parkway in Henderson.

The transaction amount was $1,275,000.00. David A. Grant of Colliers International represented the seller, Landmark Ventures, LLC.

Land Sale A sale to DFA LLC. The ±0.82 acre land property is located at 815 North Martin Luther King Boulevard (APN: 139-28-304002) in Las Vegas. The transaction amount was $215,000.00.

Brian Fike and Gabe Skerlich of Colliers International represented the buyer.

Retail Sale A sale to Richard Bradley. The ±39,175 square foot Dotty’s retail property is located at 2428 East Cheyenne Avenue in Las Vegas.

The transaction amount was $6,175,000.00. Chris Clifford, Steve Neiger, CCIM and Brett Rather of Colliers International represented the buyer.

COLLIERS INTERNATIONAL LAS VEGAS

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DISRUP T ION 2020

Industrial Sector on record pace.

The U.S. industrial sector continues to perform exceptionally well despite headwinds facing commercial real estate. Robust net absorption, rent growth, construction, and occupancy all remain healthy, fueled by the continued growth of e-commerce and an increase in demand for warehouse and distribution NOVEMBER 2020

space. E-commerce sales grew 31.8% in Q2 2020 (the most recent data available)

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from the same time last year and now represent 16.1% of total non-auto retail sales. E-commerce will continue to be a driving force in industrial real estate for the foreseeable future.

Amanda Ortiz National Director, Industrial Research | U.S. | amanda.ortiz@colliers.com

The industrial pipeline is expected to remain full in the quarters ahead.

Despite the headwinds facing the industrial sector, including the ongoing pandemic and tensions surrounding the U.S. presidential election, interest in warehouses and industrial buildings is expected to remain strong as companies continue to adjust distribution networks to accommodate increasing e-commerce demand.

Q3 2020 Headline Numbers

As e-commerce continues to be

•

•

The U.S. industrial vacancy rate rose for the fifth consecutive quarter to 5.6%, mostly due to vacant speculative deliveries, the first time it has topped 5.5% since midyear 2016.

•

Net absorption remained positive with occupancy gains of 164.7 million SF year-to-date, 3.3% higher than the same time a year ago.

•

Third quarter absorption of 57.2 million SF was up 35.3% over the second quarter — which was expected to be a strikingly slow quarter — as the market began to recover from the negative effects of the global pandemic.

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The Southern U.S. dominated activity at the close of the third quarter, with 40% of both new supply added and occupancy growth in the U.S. year-to-date. The region’s logistics advantages and growing population continue to attract occupiers.

According to Real Capital Analytics, however,

preferred by many consumers,

quarterly investment sales volume continued

Amazon’s explosive growth is expected

to soften as year-to-date transactions totaled

to continue, and it recently announced

$59.9 billion — a 25% decrease from 2019.

that third quarter sales surged 37% to

Average pricing increased to $101.40/SF — only

a record $96.2 billion. The company

the second time average square-foot pricing

plans to add 100,000 seasonal workers

exceeded $100.

in the U.S. and Canada to meet holiday demand, as sales volumes

•

Year-to-date, new industrial supply hit a record

are expected to increase even more

high in 2020, surpassing 2019 by 27%. A total of

by year-end. As Amazon continues

252 million SF was delivered at the end of the

to seek space in nearly every major

third quarter, compared to approximately 198

market, the strength of U.S. industrial

million SF in both 2019 and 2018.

real estate will continue to outpace that of other commercial sectors.

•

Development stayed the course and totaled

Holiday sales are expected to provide

328.3 million SF under construction at the close

an additional boost to the industrial

of the quarter, broadly in line with construction

market in the fourth quarter.

at this time last year.

COLLIERS INTERNATIONAL LAS VEGAS

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Real Estate Management in Las Vegas shines as bright as Las Vegas Boulevard!

Congratulations to our REMs Division on their numerous awards won at

NOVEMBER 2020

the 2020 IREM Annual Awards. We’re so proud of all your hard work!

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ACOM of the Year

NextGen of the Year

ERICA AULINO

JENNIFER MOUNT

The ACoM from IREM® is the early career certification for commercial property managers.

The NextGen from IREM® given to young up-and comers who are likely to be influential in the commercial real estate industry.

Professional Achievement Award

Mentorship Award

ANGELINA SCARCELLI

ANGELINA SCARCELLI

Recognizes outstanding individuals who make valuable contributions and show extraordinary dedication to the real estate management profession.

Given to individuals who give their time, talent and themselves to further the principals of our organization.

They prescribe to the high standards of excellence and performance.

Las Vegas has the best-in-class advisors who will manage the ever-changing needs of your property to maximize value and tenant retention, freeing you up to focus on your business.

Celebration!

THANK YOU TEAM! Af ter a year f illed with social distancing, it was nice to safely gather for some good food & conversation. The specialt y dishes were delicious. This year we even got to enjoy a lit tle bit of the Mexican culture with Brianna’s Tamales and Mama Telles’ Famous Chili.

Accelerate your success with our all-new technology platform.

https://my.colliers.com/

Big Win.

Doherty Industrial Group represented the buyer, Black Creek Group, in the property acquisition of South 15 Airport Center buildings C and D, a two building industrial asset totaling 266,560 square feet in Henderson, NV.

JUST SOLD

BLDG C – 1720 CHAPARRAL ROAD, HENDERSON, NV 89044 BLDG D – 1725 CHAPARRAL ROAD, HENDERSON, NV 89044

DAN

dan Lic

RA

IDE

RS

WA Y

PAUL

paul.

Lic

BLDG D

CHRI

ch Lic

BLDG C

JE

jer Lic

Copyright © 2020 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed.

The user is required to conduct their own due diligence and verification.

COLLIERS INTERNATIONAL LAS VEGAS

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Upcoming Calendar.

DECEMBER 2020 Virtual SIOR Holiday Recognition & Awards Ceremony

Office Monthly Meeting Zoom

3:30pm–5:00pm

Wednesday, December 16

Thursday, Deccember 3

(Taber Thill to send Zoom link)

NAIOP Winter Wonderland Holiday Lunch

Industrial Monthly Meeting

Red Rock Casino - Pavilion Ballroom

Thursday, December 17

11:30am–1:30pm Friday, Deccember 4

9:00am–10:00am

9:00am–10:00am

Christmas Eve Office Closed

Investment Monthly Meeting Zoom

Thursday, December 24

9:00am–10:30am

Merry Christmas

Tuesday, December 8 (Grant Traub to send Zoom link)

CREW Luncheon Zoom 11:30am–1:00pm Tuesday, December 8

Happy Hanukkah Friday, December 11

Retail Monthly Meeting Zoom 9:00am–10:30am Tuesday, December 15

NOVEMBER 2020

(David Grant to send Zoom link)

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Office Closed

DECEMBER BABIES: Jennifer Mount Lauren Willmore Brett Rather Caryl Lou Paayas

Friday, December 25

Christopher Sutton

New Year’s Eve

Taber Thill

Office Closed Thursday, December 31

Happy New Year Office Closed Friday, January 1

2020/21 SALES AWARD TRIP MARCH 11–15, 2022

FAIRMONT KEA LANI IN WAILEA, MAUI

C ongratulations!

- DAN DOHERT Y - PAUL SWEETLAND - DAVID GR ANT - CHRIS LANE - JERRY DOT Y - SPENCER PINTER - KEITH CUBBA - CHRIS CLIFFORD - BRIAN RIFFEL - PAT MARSH - GR ANT TR AUB - DEAN WILLMORE

YOU MADE THE PLANE

COLLIERS INTERNATIONAL LAS VEGAS

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// OCTOBER 2020 //

MONTHLY LAS VEGAS OFFICE REPORT

NOVEMBER 2020

Broker Rankings YTD

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1.

Dan Doherty

24. Brian Fike

2.

Paul Sweetland

25. George Connor

3.

Jerry Doty

26. Steven Haynes

4.

Chris Lane

27. Ryan Hendershot

5.

Chris Clifford

28. Al Twainy

6.

Spencer Pinter

29. Kara Walker

7.

Dean Willmore

30. Suzette Lagrange

8.

Brian Riffel

31. Gabe Skerlich

9.

David Grant

32. Steve Neiger

OTHER

OFFICE

3%

3%

RETAIL

16%

LAND

4%

OCTOBER PROPERTY TYPES 170% Monthly Budget 60% YTD Budget

INDUSTRIAL

74%

10. Pat Marsh

33. Brett Rather

11. Grant Traub

34. Jennifer Lehr

12. Keith Cubba

35. Tyler Jones

13. Eric Molfetta

36. Gabe Telles

14. Dan Gluhaich

37. Lauren Willmore

15. Alex Stanisic

38. Sam Newman

16. Mike Mixer

39. Joe Bonifatto

17. Scot Marker

40. Rebecca Staniec

18. Stacy Shapiro

41. Chase Pavlov

Marge Ruderman

2001

19 Years

19. Mike Willmore

42. Megan McInerney

Chris Lobello

2007

13 Years

20. Taber Thill

43. Chris Bentley

Chris Bentley

2016

4 Years

21. Patti Dillon

44. Jeff Swinger

Valerene Corbin

2017

3 Years

22. Chris Connell

45. Chris Lobello

Amanda Ir ving

2019

1 Year

23. Alexia Crowley

46. Amanda Irving

Sales vs. Lease Revenue 42% - Sales

58% - Lease

October Anniversaries

BROKER OF THE MONTH

C ongratulations!

DAN DOHERTY A Giving Spirit.

DAN’S DONATION WILL BE GOING TO MAKE-A-WISH ® SOUTHERN NEVADA Make-A-Wish creates life-changing wishes for children with critical illnesses. They seek to bring every eligible child’s wish to life because every child deserves a childhood. Research shows children who have wishes granted can build the physical and emotional strength they need to fight their

A few words of wisdom.

“I can’t change the direction of

illness. Together with generous donors, supporters, staff,

the wind, but I can adjust my sails

and more than 34,000 volunteers, Make-A-Wish Southern

to always reach my destination.”

Nevada and 58 other chapters throughout the U.S. have granted more than 330,000 wishes nationwide.

Slowly but surely, the foundation for a Las Vegas entertainment comeback is being laid.

Las Vegas visitation rose to more than 1.7 million in September, up 10.9 percent from an approximate 1.5 million visitors in August. That number is expected to hold steady or possibly inch upward for October into early November before a deeperthan-usual dip for the holidays.

- Jimmy Dean

55 Deals

Our Las Vegas Office completed a total of 55 Deals for the month of October.

Casino resorts needed to expand current amenities and offerings.

READ MORE COLLIERS INTERNATIONAL LAS VEGAS

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Megan McInerney Office Division

NOVEMBER 2020 2020

Thill-Dillon-McInerney Team

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L A S V EG A S BROK E R CONNEC T ION

You’re well-traveled, what’s your favorite place you’ve ever visited?

Definitely Vietnam.

Everything is so beautiful...

The people, the food, the culture, the beaches.

If you ever have the chance, GO! What are you currently listening to when you get in your car?

Anything Country. I go through music phases but Country has always been my favorite! Yee Haw!

What does your perfect breakfast look like?

Salmon Eggs Benedict and a mimosa of course!

Tag! You’re it!

Steven Haynes will be featured next month.

Your custom questions will be on the way.

Be on the lookout.

COLLIERS INTERNATIONAL LAS VEGAS

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Knowledge Leader

Market Insights U.S. Office Q3 2020 Explore the latest key statistics and Colliers’ outlook for the U.S. office market. Click the data you want to review or scroll.

CLICK

HAPPY

THANKSGIVING Wishing our family, friends and colleagues blessings of

NOVEMBER 2020

health, happiness & success. Enjoy the holiday.

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For more office insights, read the Q3 2020 Office Market Outlook Report

READ MORE

DIREC TORY INDUSTRIAL

PROPERTY MANAGEMENT

HOTEL/RESORT

Dan Doherty

+1 702 836 3707

Erica Aulino

+1 702 836 3745

Jerry Doty

+1 702 836 3735

Valerene Corbin

+1 702 836 3761

Ryan Hendershot

+1 702 836 3751

Jennifer Kennedy

+1 702 836 3772

Tyler Jones

+1 702 836 3754

Jennifer Mount

+1 702 836 3753

Suzette LaGrange

+1 702 836 3799

Christine Norberg

+1 702 836 3704

Chris Lane

+1 702 836 3728

Angelina Scarcelli

+1 702 836 3768

Pat Marsh

+1 702 836 3741

Sam Newman

+1 702 836 3724

Alyssa Parks

+1 702 836 3755

Chase Pavlov

+1 702 836 3731

Spencer Pinter

+1 702 836 3776

Brian Riffel

+1 702 836 3773

Danielle Scarano

+1 702 836 3747

Stacy Shapiro

+1 702 836 3762

GOLF COURSE

Alexander Stanisic

+1 702 836 3742

Paul Sweetland

+1 702 836 3750

Keith Cubba

Gabe Telles

+1 702 836 3758

Kara Walker

+1 702 836 3705

Dean Willmore

+1 702 836 3763

MULTI-FAMILY

Mike Willmore

+1 702 836 3748

Lauren Willmore

+1 702 836 3730

Christopher Bentley

+1 702 836 3779

Shalonda Hughes

+1 702 836 3765

Jeffrey Swinger

+1 702 836 3764

Mike Mixer

+1 702 836 3777

INVESTMENT SERVICES Joe Bonifatto

+1 702 836 3729

Brian Fike

+1 702 836 3744

Amanda Irving

+1 702 836 3732

Eric Molfetta

+1 702 836 3756

Gabriel Skerlich

+1 702 836 3708

Grant Traub

+1 702 836 3789

STAFF Nicole Cauilan

+1 702 836 3706

Sara Johansson

+1 702 836 3771

Gina Jones

+1 702 836 3783

Brianna Maldonado +1 702 836 3701 +1 702 836 3733

Caryl Lou Paayas

+1 702 836 3702

Matt Stater

+1 702 836 3781

Chris Sutton

+1 702 836 3721

OFFICE Chris Connell

+1 702 836 3709

RECEIVERSHIP

Patti Dillon

+1 702 836 3790

Christopher LoBello +1 702 836 3714

Megan McInerney

+1 702 836 3700

Rebecca Staniec

+1 702 836 3792

Taber Thill

+1 702 836 3796

MEDICAL OFFICE Alexia Crowley

+1 702 836 3778

RETAIL Chris Clifford

+1 702 836 3746

George Connor

+1 702 836 3786

Dan Gluhaich

+1 702 836 3757

David Grant

+1 702 836 3785

Jennifer Lehr

+1 702 836 3736

Scot Marker

+1 702 836 3782

Steve Neiger

+1 702 836 3760

Brett Rather

+1 702 836 3794

Al Twainy

+1 702 836 3725

LAND Steven Haynes

+1 702 836 3727

VALUATION SERVICES Richard Koldewyn

+1 702 836 3738

Heidi Meidenbauer +1 702 836 3726 Leah Mullen

+1 702 836 3775

Evan Ranes

+1 702 836 3749

Brandon Roper

+1 702 836 3734

LAS VEGAS COLLIERS INTERNATIONAL LAS VEGAS

25

Accelerating Success.

400 offices in 68 countries on 6 continents MARKET CONTACT:

ANZ: 54 United States: 159 Canada: 48

Mike Mixer, SIOR Executive Managing Director

+1 702 735 5700

mike.mixer@colliers.com

Latin America: 20

John Stater Research & GIS Manager

Asia Pacific: 45

+1 702 836 3781

EMEA: 114

$3.5 billion in annual revenue 2 billion square feet under management 18,000+ professionals and staff

john.stater@colliers.com

Colliers International | Las Vegas 3960 Howard Hughes Parkway, Suite 150 Las Vegas, Nevada 89169 | USA +1 702 735 5700 www.colliers.com/lasvegas

ABOUT COLLIERS INTERNATIONAL Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. Š 2020 Colliers International. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers Nevada, LLC has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange or execution of legal documents.