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Kidder Mathews Closes First-Time Sale of Tacoma Industrial
Matt McLennan, SIOR, CCIM, an EVP at Kidder Mathews, represented the buyer in the purchase of the M Street Industrial Park in Tacoma, WA. Located at 2940 S. M St., the property was acquired for $5,000,000 as part of a 1033 exchange. It was the first time the property had come to market.
Located in Tacoma’s Nalley Valley, the property offers immediate access to Interstate 5 and Highway 16, with proximity to the Port of Tacoma and key regional industrial hubs. 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.
“This acquisition represents a strategic investment for the buyer in a prime industrial corridor with strong long-term potential,” said McLennan.
- ◦Sale/Acquisition
