Why Las Vegas

At least 60,000 people move to Las Vegas every year
Asians will represent the largest percentage increase in residential and tourist growth in Las Vegas

Low unemployment rate
Low Retail vacancy
McCarran Airport is the 5th busiest airport in the US
40 million tourists per year visit Las Vegas, many of whom are Asian

Why Nevada?

Nevada has the 6th highest population of Asian-Americans in the United States, mostly living in Las Vegas
No State Income Tax
Educated, Expanding, and Cost-Effective Workforce
Excellent State Incentives for businesses
Superior Telecommunications Infrastructure
Dependable, Competitive Energy

Strong economic growth

Property Highlights: Warm Springs Road and Jones Blvd. are major secondary arteries in the southwest Las Vegas. This intersection is located one block south of the intersection of Highway I-215 and Warm Springs, a high traffic, high visibility area that is experiencing rapid commercial and residential growth.

This parcel has been appraised at $32,900,000. It is one of the largest, least expensive, commercially-zoned properties in the high-traffic growth areas of Las Vegas. We have completed the Phase One, ALTA, Hydrology, and Geo-Tech studies with no issues. Vertical construction is on schedule to begin in the next 90 – 120 days.

Exit Strategy: Once Asia Town is built and leased, it will either be held for its cash-flow or sold for a profit. At a 7% Cap Rate, the center would be valued at approximately $75 million.

Demographics

The following information was obtained from the Asian Tribune, Census Bureau, and the Las Vegas Asian Chamber of Commerce.

There are nearly 150,000 Asian Americans and Pacific Islanders within the Clark County jurisdiction. The Asian Chamber of Commerce estimates that this figure has grown to nearly 250,000 in 2006.
Clark County is 9% Asian American and little over 1% Pacific Islanders. The Asian American population increased from 3% of the population in 1990 to 7% in 2000 and 9% in 2005.
Filipinos are the largest Asian America ethnic group in Clark Count – they constitute nearly a majority (46%) of the Asian American population. Filipinos had the fastest growth rate from 1990 to 2000, growing by over 300%. The next largest Asian American groups to Filipinos are Chinese, Japanese, Korean, Asian Indian, and Vietnamese, rounding out the six largest groups of Asian Americans in Clark County.
Nevada had the fastest growing Asian American and second fastest growing Pacific Islander population in the United States from 1990 to 2000. Nevada continued to have the fastest growing Asian American population in the U.S. from 2000 to 2005.
Nearly every Asian American and Pacific Islander ethnic group had more than doubled in size from 1990 to 2000, many with growth rate over 200%. Asian Indians grew more than a 200% in the ten-year period, bringing them up in rank from the sixth to fifth largest Asian American group.

PROJECT LOCATION & AREA DEVELOPMENT

AREA SERVICED BY ASIA TOWN

VICINITY MAP

Ideally located to serve residents of Mountain’s Edge, Summerlin, Green Valley, and Henderson with no competing centers in these areas.

One of the newest and fastest growing areas in Clark County.

Across the street from the 400 Acre Beltway Business Park (currently 3 million SF).

One of the highest concentrations of Asian Americans in Las Vegas.

The Southwest valley is home to some of the newest and most sought after housing developments such as Coronado Ranch, Rhodes Ranch, Nevada Trails, and Mountains Edge.

This dynamic and growing part of the valley is home to the new San Martin and Southern Hills Hospitals.

Warm Springs Rd. to connect to Jones Blvd. (Construction is underway and will be complete prior to the opening of Asia Town. Warm springs will run across the entire Las Vegas valley and will pull traffic from the 215 during rush hour.

Jones Blvd is currently 4 lanes and has an extremely high traffic count.