Kidder Mathews has arranged the sale of the Smith-Western Building, a 58,255-square-foot, single-tenant industrial distribution facility located at 2223 S. 80th Street in Tacoma, Washington. Executive Vice Presidents Matt McLennan, SIOR, CCIM, and Andy Miller of Kidder Mathews represented the seller, while Doug Klein, SIOR, also with Kidder Mathews, represented the buyer.
Built in 1993 on 2.44 acres, the concrete industrial property features 24-foot clear height, nine dock-high doors, two grade-level doors, three exterior levelers, a wet sprinkler system, and 1,600 amps of power. The property also includes a secure fenced yard with outside storage.
The building is fully leased to Smith-Western Co., a wholesale distributor of souvenirs and tourist merchandise founded in 1947. The company has occupied the property since 1999 and recently executed a new 72-month lease beginning January 1, 2026, and running through December 31, 2031. The lease also includes one five-year renewal option.
“We listed the Smith-Western building in challenging market conditions, including historically high interest rates and elevated industrial vacancy,” said McLennan. “Closing this sale took creativity and perseverance. Having a tenant that has occupied the building for more than 25 years, along with a new lease through 2031, gave the buyer a stabilized asset, and we found a path to get it done.”
Located in the Tacoma/Lakewood industrial submarket, the property provides immediate access to Interstate 5 and convenient connectivity to the Port of Tacoma, Seattle-Tacoma International Airport, and the broader Puget Sound region. The offering memorandum highlights the building’s combination of rear-loading functionality, secure yard space, and regional transportation access as key features of the property.
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, Nevada, Arizona, and Texas. 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 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
