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Tacoma, WA

Matt McLennan, SIOR, CCIM

Executive Vice President | Shareholder
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T 253.722.1458 C 425.417.9566 matt.mclennan@kidder.com
1201 Pacific Ave, Suite 1400
Tacoma, WA 98402

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About

Matt McLennan specializes in industrial leasing, sales, investments, and development in the Western Washington/Puget Sound region.

For owners, tenants, and investors in the industrial market, Matt McLennan brings a simple commitment: protect your interests and get the deal done right. Matt is rooted in the Puget Sound region and focuses his practice there, but his clients’ needs don’t stop at the state line, and neither does his reach. He represents clients nationwide in industrial leasing, sales, investments, and development. Since joining Kidder Mathews, he has facilitated more than 5,000,000 square feet of building transactions and more than 11,000,000 square feet of land, totaling over $620 million in consideration.

That track record has made him a six-time consecutive recipient of Kidder Mathews’ “Big Hitter” award (2021 through 2026), given to the firm’s top annual producers. In 2024, his colleagues elected him to the Kidder Mathews Executive Board of Directors.

Matt’s perspective extends well beyond any single deal. Through his work with the Economic Development Board for Tacoma-Pierce County and the Washington State SIOR Chapter board, he stays closely connected to the local community and the forces shaping its growth. As an SIOR and CCIM designee, he draws on a national network of top professionals. Together, these relationships give his clients the benefit of both on-the-ground local knowledge and a big-picture view of markets and economies.

Clients choose Matt for the way he works. He negotiates hard, looks for value others miss, and builds relationships fast, which lets him move at the pace today’s market demands. The result is stronger returns and less time and cost for the people he represents.

Matt’s sales instincts were sharpened over four years with E&J Gallo Winery and Southern Glazer’s Wine and Spirits, where he rose to lead more than 100 sales representatives statewide and manage internal promotion of a 150+ brand portfolio. He excelled in every role, earning consistent recognition for his critical thinking and closing ability.

Awards & Recognition

2026
PNW CRE Rising Star

The Registry

2025
Power Broker

CoStar

2026 - 2021
Top Producer – PNW

Kidder Mathews

2025 - 2022
Top Broker Award

ConnectCRE

2024, 2022
Industrial Influencer Award Winner

GlobeSt.

2025, 2021
Next Generation Award Winner

ConnectCRE

2025, 2024
CRE Aspiring Leaders Award

GlobeSt.

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Services

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Education

Bachelor of Science in Marketing, University of Arizona, Tucson, Arizona.

Matt graduated from the Eller College of Management at the University of Arizona in Tucson, Arizona. Matt was involved in several organizations on campus and held leadership positions that include president of the Order of Omega Greek Leadership, vice president of the Bobcats Senior Honorary, recruitment coordinator for the Sigma Chi Fraternity, and 4-time winner of the Arizona High Regents Honor.

Affiliations

Board Member Kidder Mathews Executive Board of Directors
Board Member SIOR (Society of Industrial & Office Realtors)
Member CCIM (Certified Commercial Investment Member)
Member IAMC (Industrial Asset Management Council)
Board Member Economic Development Board Tacoma-Pierce County
Member CBA (Commercial Brokers Association)
Member WSCAR (Washington State Commercial Association of Realtors)
Member Fircrest Golf Club

Representative Transactions

$41M building sale, 184,000 SF, on behalf of Peak Design
$41M building purchase, 194,857 SF, on behalf of Goodwill Industries
$22.99M building lease, 251,100 SF, on behalf of Curt Manufacturing
$22.02M IOS sale, 39,777 SF building and 393,303 SF land, on behalf of Fortress Investment
$13.75M building sale, 68,911 SF, on behalf of MCA Realty
$13.74M building lease, 150,000 SF, on behalf of American Realty Advisors
$13.03M IOS sale, 371,566 SF land, on behalf of a private party
$11.88M building lease, 208,370 SF building and 87,120 SF land, on behalf of TA Realty
$11.25M building sale, 81,434 SF, on behalf of Boeing Employees Credit Union (BECU)
$10.14M IOS sale, 19,320 SF building and 193,545 SF land, on behalf of a private party
$9.14M building lease, 68,545 SF building and 87,120 SF land, on behalf of All Season Transport
$8.6M building purchase, 40,128 SF, on behalf of a private party

$8.3M building sale, 58,255 SF, on behalf of TA Realty
$8M building sale, 33,617 SF, on behalf of Destination Harley
$7.8M building lease, 137,847 SF, on behalf of Provisioners Warehouse
$7.4M building sale, 31,229 SF, on behalf of a private party
$7.3M building purchase, 19,486 SF, on behalf of We Care Clinics
$7.25M building lease, 37,197 SF, on behalf of a private party
$7.08M IOS lease, 761,429 SF land, on behalf of LeMay Investments
$6.5M IOS sale, 7,650 SF building and 352,836 SF land, on behalf of Pease & Sons
$6.38M building purchase, 104,682 SF building and 431,244 SF land, on behalf of Reality Sports
$6.3M IOS sale, 9,400 SF building and 131,658 SF land, on behalf of a private party
$5.82M IOS lease, 16,320 SF, on behalf of a private party
$5.75M building sale, 34,974 SF, on behalf of Quality Stamping
$5.5M building sale, 22,230 SF, on behalf of North Pacific Industries, Inc

Select Client List

  • All Season Transport
  • American Realty Advisors (ARA)
  • Dalfen Industrial
  • Dickson Demolition + Abatement
  • Fortress Investment
  • Gene’s Towing
  • Great Day Improvements
  • Industrial Outdoor Ventures
  • International Pipe
  • Kurv Industrial
  • MCA Realty
  • Panattoni Development Company
  • Patriot Fire Protection
  • Peak Design
  • Prologis
  • Provisioners Warehouse
  • Seattle-Tacoma Box Company
  • TA Realty
  • UNIPRO

Testimonials

David Witham

Clarion

I’ve really enjoyed working with Matt. He and his team provide very thorough and informative market research reports. He is a true expert in his field. Anyone fortunate enough to work with him will be sure to get Class-A treatment and results.

Wayne Belcher

UNIPRO

It is with pleasure that I respond to the request for a letter of reference for inclusion in Matt McLennan's personal résumé. Matt McLennan is a professional in property management of commercial, institutional and industrial properties. Having had the opportunity to meet with Matt personally, I can attest that he is a highly energized, enthusiastic, and confident professional with vast experience. Matt is also very polite and attentive to the needs of those he represents. I have appreciated his patience and the time spent to educate his clients for which is an immense service for those looking for the right property to represent their business.

Michael Mayer

Mountain Construction

Matt was a pleasure to with. He helped us find land for our new warehouse and provided invaluable feedback during the design process to help us build a space that is functional, rentable and, ultimately, profitable.

Kathy Scanlan

Cascade Abrasives

Matt was recommended to me by a fellow BNI Chapter Member. I had a good experience in working with Matt locating an available warehouse and office space to fit my criteria. Which wasn't easy! He helped negotiate aspects of the lease making it a seamless process to make the move. Matt is easy to work with, responsive and professional. I highly recommend Matt.

Andrew Lear

Peak Design

Matt understands our local market really well and is able to articulate the both the strategic and tactical aspects of the deals we are working on. He has helped on both the buy and sell-side of our businesses and has been really responsive to our requests.

Industrial Market Reports

The TILT Report

Market Highlights – Sept 2026

I write these updates looking back on the last 60 days specifically. What has transpired and changed over the preceding 60 days. Well, the last 60 days have been interesting. But I suppose I could say that about the last 4 years if I’m being honest!

I wouldn’t say the industrial market has suddenly turned a corner, but there are more signs of life out there. Vacancy is still the biggest issue we’re working through. We’re sitting at 11.8% (average) across the market, and the larger building categories continue to carry the most vacancy – including 17.2% in Pierce County for 100,000 SF+ buildings. That’s a staggering number. At the same time though, rents haven’t fallen apart. Depending on the size and submarket they’re moving in both directions, which is probably a better description of the market right now than any broad statement about rents being “up” or “down.”

What I find more interesting is what’s actually getting done. We saw several meaningful leases over the last couple months, including 291,035 SF in Kent, 166,843 SF in Sumner and 55,000 SF in Fife. The economics tell the story too. Free rent, phased occupancy, TI dollars and other concessions are still very much part of getting larger deals across the finish line.

Sales have been active as well. Seattle industrial investment volume over the last four quarters reached $2.87 billion, up 49% year-over-year, although some of that increase is being driven by portfolio activity. Q2 alone saw just over $1.0 billion trade, up 74.6% from a year earlier. Nationally, industrial volume is moving in the same direction, with $34.3 billion over the last four quarters, up 16.1%.

Locally, we’re seeing everything from a $55 million Tacoma industrial sale to smaller owner/user transactions, along with a surprisingly active IOS market. Four IOS sales in our comp set traded in July and August alone, ranging from about $20 to $67 per land SF.

So, my takeaway hasn’t changed dramatically from the last TILT Report, but I think it has moved forward another step. There is still too much vacancy, landlords still have to compete for tenants and deals still take significant work. But people are transacting. Tenants are making decisions, buyers are writing checks, and owners are adjusting to where the market is instead of where they wish it was.

That feels like progress.

-Matt

 

For archived reports, please contact Matt.

Industrial CRE News

Commercial Real Estate Trend Articles

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