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8/19/25
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A 23.5k sf industrial property in Tacoma, WA was purchased for $5 mil ($213/sf) as part of a 1031 exchange. The property, M Street Industrial Park, sits on 1.55 acres at 2940 South M St.
M Street Industrial Park 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. Located in Tacoma’s Nalley Valley, the property offers immediate access to Interstate 5 and Highway 16, with close proximity to the Port of Tacoma and key regional industrial hubs.
Matt McLennan, SIOR, CCIM, with Kidder Mathews, represented the buyer in the transaction. McLennan noted that this was the first time the property has come to market, offering a rare opportunity to secure a fully leased, well-located industrial asset in Tacoma’s competitive marketplace.
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