2087 Lars Way, Medford, OR 97501

Scott King and Caspian Hoehne of Merit Commercial Real Estate exclusively represented the Landlord, the nationally recognized Keller Supply company, in the lease of their Medford asset at 2087 Lars Way. 

The Challenge: Keller Supply was in process of moving into a larger facility in the same submarket, and needed to lease their prior, owned location. The asset itself, while fully functional and desirable, lacked a few of the characteristics that can drive record achieved rents (lacked multiple covered loading docks, awkward/small shaped rear yard, somewhat dated interior). The asset was taken to the market at a very strong $12/SF asking in a softening market, and required the right combination of materials and marketing reach. 

Merit’s Process: The Merit team understood that this size of asset tips into the more super-local/regional tenant pool, and requires more advanced marketing. The production team invested heavily into early, pre-listing work, excellent photography, floorplans, and materials that can give a tenant or tenant rep that is based hundreds or thousands of miles away the confidence they need to get on a plane and see a building. A diversified marketing approach was utilized to ensure the asset was everywhere it possibly could be to get in front the right quality of user. 

The Result: The new user, L&W Supply, operating as a subsidiary of ABC Supply Co., which is the largest wholesale distributor of roofing and exterior/interior building materials in North America doing $20B+/year and employing over 20,000 employees, signed a long-term, true triple net lease for the entire asset, securing a near-market-leading rent with annual increases and almost zero landlord responsibilities.

The tenant was identified within 24 hours of listing the asset for lease.