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Newmark Knight Frank and RealINSIGHT Marketplace are pleased to present the opportunity to acquire 303 S Water Street (hereafter the “Property” or “Project”). The Property consists of a 30,673 square foot mixed use building located in Henderson, NV.

 

The two-story mixed use building was completed in 2006 and sits on 1.19 acres of land across the street from the City Hall, the Convention Center, and the Henderson Courthouse. The Property is currently 92% occupied by four tenants, but will be 74% occupied by March 2019 when two of the tenants (TSK Architect and Clark County Credit Union) are expected to vacate for built-to-suit opportunities. The Property’s largest tenant is The College of Southern Nevada, which recently executed a five year renewal and occupies 61% of the building.

 

The Project is well-located in Downtown Henderson along Water Street ("Main Street"), which is the focal point of City's Downtown Master Plan and redevelopment initiatives for the Water Street District. Lake Mead Parkway provides convenient access to the 215 Beltway and US Hwy 93/95. It is also conveniently situated within walking distance of local restaurants and banks.

 

303 S Water Street presents investors with an attractive opportunity to acquire a high-quality, newer vintage asset with significant and stable in-place cash flow with upside through lease up of pending vacancies and appreciation due to the revitalization of Downtown Henderson.


Tour Dates:
Tuesday, May 29th - 11:00 am to 1:00 pm
 

Auctioneer
Shane P. Jacob, 2000817-056-221

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A10 Capital’s commercial real estate acquisition finance team help borrowers secure non-recourse financing. Our track record in on-line commercial real estate acquisition financing is unparalleled.   A10 Capital has reviewed this asset in consideration for customized balance sheet financing.
 
  • Loan Proceeds - A10 Capital offers bridge financing up to 80% LTV.
  • Recourse - Non-recourse
  • Loan Term - 3-5 years, plus extensions
  • On Balance Sheet - A10 is an on-balance sheet lender, providing flexibility to make changes to your loan over the life, if warranted.
  • A10 Loan Servicing - A10 services its loans in-house from closing to maturity, providing a better experience than having your loan transferred to a disinterested 3rd party servicer. A10 does not have hidden servicing fees that are common with 3rd party servicers.
  • Certainty of Closing - A10 will work to close within or shortly after closing assuming you provide prompt response to information requests.
  • In-house Legal - A10’s in-house legal department combined with the fact we typically don’t require legal opinion letters from your counsel, translates into a ~35 bps reduction in the effective interest rate on an average middle-market bridge loan.
  • Payment Options - A10 provides customized rate structures: fixed, floating and hybrid (fixed to floating) options.
  • Rate Lock - At application
  • Permanent Loan Capability - A10 is a one-stop lender with capabilities to also provide long-term, fixed-rate financing on stabilized middle-market properties up to 20 years. A10’s permanent loans are unique in that they also remain on-balance sheet and serviced by A10.


Upon reaching stabilization, A10 offers a seamless transition into a permanent loan with a variety of cost-saving benefits.

For more information on pricing and customized structure please contact:

Alisha Hill Koontz

Executive Vice President

208.577.5052

ahill@a10capital.com

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

303 Water Street Office

303 Water Street, Henderson, NV 89015

Sold Subject To

Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Mixed Use Type
  • NA
  • Land Area
  • 1.91 Acres
  • Year Built
  • 2006
  • Number of Floors
  • 2
  • Number of Buildings
  • 1
  • Parking Count
  • 123
  • Occupancy
  • 88.19%
  • Occupancy as of
  • Feb 28, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.