3715 International Way, Medford, OR 97504

Marcus & Millichap is pleased to present 3715 International Way, a 100 percent occupied, two-tenant commercial asset located at the Medford Airport in Medford, Oregon. Situated on a long-term ground lease with the Medford Airport Authority, the property features quality 13,600-square-foot Type II CMU construction and was constructed in 2000, with a $2.3 million renovation completed by the GSA in 2017. The property serves as the anchor tenant for the east side of Jackson County Airport, with the ground lease extending through November 30, 2047, and adjacent airport-owned land available for potential expansion or future development. Additionally, the lease structure provides durable site control within a strategic transportation and logistics hub serving Southern Oregon and Northern California. The property also offers flexible office, warehouse, and light industrial use and features a new high-efficiency HVAC system with a Dynamic VB Air Cleaning System under maintenance contract, a new roof membrane with more than 20 years remaining on the 25-year warranty, two fiber optic lines, 20 dedicated parking spaces, and 47 shared public parking spaces. The site also includes a 15,930-square-foot secure fenced yard with a motorized vehicle gate, a high-security fenced perimeter with single ingress/egress access, and a 70 MWh solar system installed in 2021 and expanded to 100 MWh in 2024. The property currently has no deferred maintenance, is routinely serviced by established vendors, and requires minimal burden on the lessor.

The tenant roster creates a highly stable and diversified income stream, anchored by the U.S. Immigration and Customs Enforcement (ICE), alongside Lincare, Incorporated—a subsidiary of Linde plc, the world's largest industrial gas and engineering company by market share and revenue. The property has recently benefited from approximately $250,000 in capital improvements completed at the request of ICE, reinforcing the tenant's long-term operational commitment to the location and reducing near-term capital expenditure risk for ownership. ICE also recently executed a firm eight-year lease extension under a modified gross lease structure, providing exceptional credit quality backed by the U.S. Government. Lincare has occupied the property continuously since 2003 and executed a five-year lease extension in 2023, with the current term running through December 31, 2028. Lincare operates under a triple-net lease structure and maintains additional extension options, further supporting long-term cash flow stability.

The location is considered mission-critical for ICE operations due to its strategic regional coverage, immediate airport access, limited alternative facilities meeting federal operational requirements, and the significant capital investment recently completed at the site. Moreover, the facility serves as a key operational hub for federal enforcement and administrative activities across Southern Oregon and Northern California. With a population of approximately 223,000 residents, the Medford MSA serves as the commercial and governmental center of Southern Oregon. The regional economy is supported by major employers including Asante Health System, Providence Health System, Lithia Motors, Harry & David, and Pacific Retirement Services, providing a stable economic base and continued demand for commercial space. The combination of government-backed tenancy, long-term occupancy history, mission-critical operations, and durable cash flow positions the property as a compelling investment opportunity for investors seeking stable income with minimal management intensity.