BLAK Cheynne Industrial Park | NNN 3650 W Cheyenne Ave 56,500 SF 62% Leased Industrial Building North Las Vegas, NV 89032 $24,392,307 CAD ($431.72 CAD/SF) 6.25% Cap Rate

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, newly constructed, 56,500 SF two-tenant industrial building investment property, located in the BLAK Cheyenne Industrial Park in North Las Vegas, NV (Las Vegas MSA). Reece Supply, LLC, a wholly owned subsidiary of publicly owned Reece Limited ($9+ billion revenue FY24) occupies 35,000 SF and recently signed a 18-year lease with 2 (5-year) options, demonstrating their commitment to the site. The lease features attractive 5% rental increases every three years, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed by Reece Inc. The Vegas Gymnastics Academy occupies the remaining 21,500 SF and recently signed a 5 year lease with 1 (5-year) option. The Vegas Gymnastics Academy lease features 3.5% annual rent increases and is personal guaranteed. Both leases are NNN with minimal landlord responsibilities. The building is a class A facility with brand new state-of-the-art, concrete tilt-up construction, with modern amenities and design.