1321 Center Drive Medford, OR 97501

Scott King of Merit Commercial Real Estate, in coordination with JLL, represented Asante Health Systems in the sale of 1321 Center Drive - a ±50,583 SF big box-retail building converted to a Class A office building in Medford, Oregon.

The Challenge: The transaction involved zoning compatibility and neighboring property concerns regarding the proposed use of the building during negotiations. The Property’s existing zoning did not permit the proposed use - a school district building, which required coordination with the local planning department and caused setbacks in the overall transaction. Additionally, the buyer pool for an asset of this kind - a converted building with a large asking price for the local market - required deep local relationships. 

Merit's Process: Prior to identifying the end buyer, several parties were quickly interested in the asset, including federal users through the GSA, retail users, and more. Once under contract after a short marketing period, Scott King helped keep the transaction moving by acting as a central point of communication between all parties involved. Through continued negotiation, coordination with planning officials and timely communication, the parties were able to work through zoning and neighboring property concerns. 

The Result: The transaction closed on 06/28/2023 for $7,500,000.