Tacoma’s M Street Industrial Park, located at 2940 South M Street, has been sold for $5M in a 1033 exchange. The seller, HWD LLC, transferred the property to Arrowhead DJM LLC. Both are private investors.
Property: M Street Industrial Park in Tacoma, Wash.
Price: $5M
Seller: HWD LLC
Buyer: Arrowhead DJM LLC
Situated on 1.55 acres in Tacoma’s Nalley Valley, the 23,500-s.f. industrial complex includes five tenant spaces that are fully leased and offers immediate access to Interstate 5 and Highway 16. The Port of Tacoma and other key regional industrial hubs are also nearby.
The property’s prime location and stable occupancy made the acquisition especially attractive to the buyer.
Features of the property include grade-level doors, gated and fenced access, 21-foot clear height, three-phase power and M1/M2-STGPD zoning, which allows for a variety of industrial uses.
“This acquisition represents a strategic investment for the buyer in a prime industrial corridor with strong long-term potential,” said Matt McLennan, EVP at Kidder Mathews, who represented the buyer.
