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Kidder Mathews Arranges Sale of 58K-SF Tacoma Industrial Building
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, and three exterior levelers. 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. “We listed the Smith-Western building in challenging market conditions, including historically high interest rates and elevated industrial vacancy,” said McLennan. “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.”
