Matt McLennan, SIOR, CCIM, a shareholder and board member at Kidder Mathews, represented the buyer in the purchase of the M Street Industrial Park in Tacoma, Washington. Located at 2940 South M Street, the property was acquired for $5,000,000 as part of a 1033 exchange.
The 23,500-square-foot industrial complex, situated on 1.55 acres, is 100% leased and features five tenant spaces with grade-level doors, gated and fenced access, 21-foot clear height, three-phase power, and M1/M2-STGPD zoning allowing for a wide variety of uses. Located in Tacoma’s Nalley Valley, the property offers immediate access to Interstate 5 and Highway 16, with close proximity to the Port of Tacoma and key regional industrial hubs.
“This acquisition represents a strategic investment for the buyer in a prime industrial corridor with strong long-term potential,” said McLennan, an Executive Vice President at Kidder Mathews’ Tacoma office.
M Street Industrial Park marks the first time this property has come to market, offering a rare opportunity to secure a fully leased, well-located industrial asset in Tacoma’s competitive marketplace.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
