A Fortune 500 company has renewed its lease and expanded its presence at 9516 39th Avenue SW in Lakewood, Washington. The five-year lease renewal expands the tenant’s footprint to 23,482 square feet of building area on 3-acres, reflecting the tenant’s continued growth and confidence in the South Sound industrial market. Kidder Mathews Executive Vice President Matt McLennan, SIOR, CCIM represented the landlord in the transaction.
The total property size is 29,182 square feet of industrial and office space and includes a fully improved 3-acre yard ideal for industrial outdoor storage (IOS). Its flexible mix of warehouse, office, and paved yard areas provide exceptional functionality, positioning it as one of the most versatile industrial assets in the South Sound region.
“The renewal represents a strong outcome for local ownership, achieving competitive market economics while maintaining a long-term relationship with a creditworthy tenant,” said McLennan. “This transaction reflects the strength of the industrial market and the value of experienced representation in securing a successful outcome for all parties.”
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, 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 53 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
