3132 State St, Medford, OR 97504

Scott King and Caspian Hoehne of Merit Commercial Real Estate exclusively represented both Landlord and Tenant in the lease of a high quality ±3,600 SF former yoga studio professional office space within the Alderwood Office Park in east Medford, just blocks to Asante RRMC.

The Challenge: The office leasing market faced serious headwinds extending vacancies, bringing lease rates down or remaining flat, and high NNN expenses further placing downward pressure on tenant’s budgets. Nevertheless, Merit’s marketing generated several tours, inquiries, and potential tenants. Once the end user was identified, the Merit team prepared and negotiated the LOI, reviewed the Landlord’s lease, and developed redlines to protect the tenant’s interests. A significant TI buildout was negotiated as part of the lease and helped Merit secure a multi-year, triple net lease. 

Merit's Process: At the peak, Merit had three different spaces for lease within the same building. By leveraging exceptional materials and diverse marketing platforms including Facebook Marketplace, Merit Commercial Real Estate generated significant tenant activity including multiple tours, and the Merit team ended up representing the end user. 

The Result: The office space leased for $1.22/SF/Month under a multi-year NNN lease in March, 2026.