Matt McLennan, SIOR, CCIM Kidder Mathews

12/31/2025

I recently sat down with Carter McFarland for a thoughtful conversation on how the industrial market wrapped up 2025 and what we’re watching as we head into 2026.
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We dug into the key dynamics shaping the Pacific Northwest — vacancy trends, new construction coming online, tenant movement, and the continued flight to quality. We also touched on return-to-office momentum, how landlords are navigating today’s deal economics, and which fundamentals really matter as the market works toward stabilization.
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We closed the conversation by talking through how brokers are adapting their approach in this environment — focusing on long-term planning, clear-eyed decision-making, and confident ex*****on to help clients move forward despite ongoing uncertainty.
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Always valuable exchanging perspectives with Carter.
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Video link: https://youtu.be/Bi7bw7R3Ceo
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I recently sat down with Carter McFarland for a thoughtful conversation on how the industrial market wrapped up 2025 and what we’re watching as we head into ...

12/30/2025

NEW AT PEAK 410 | BONNEY LAKE, WA
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Excited to officially release our newest Class A build-to-suit opportunity at Peak 410 in Bonney Lake. Two fully entitled buildings are now available for sale or lease in one of East Pierce County’s fastest-growing industrial corridors. Full SEPA approval and site work are complete, positioning this project for immediate delivery. A great opportunity for users focused on growth, efficiency, and regional access.
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12/26/2025

FOR SALE |1.23 IOS YARD | OWNER/USER
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Fully secured site at 1.23 AC. Includes 1,888 office, automatic gate and covered storage. I'm working with Chris Trussel to get this one sold. Reach out with questions or to schedule a tour.
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12/23/2025

Behind every deal, lease, and acquisition is an accounting and tax engine that often doesn’t get enough attention—but this new survey shows it may be one of CRE’s biggest pressure points heading into 2026.
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Manual processes, fragmented data, and limited real-time visibility continue to slow firms down, even as reporting complexity and regulatory scrutiny increase.
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When accuracy becomes the finish line instead of efficiency, it’s a signal the industry is overdue for change.
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Key findings from the report:

• Manual work remains the top bottleneck, with teams spending significant time on data entry and reconciliation

• 29% of respondents reported accuracy issues, while 22% struggle with mismatched data across entities

• Uncertainty around recent tax legislation is delaying preparation and increasing reporting risk
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For owners, investors, and operators, strengthening accounting infrastructure is no longer optional—it’s foundational to better decision-making and long-term performance.
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Behind every commercial real estate action lies accounting and taxation support. According to real estate technology company Agora, “commercial real estate accounting is distinct from other sectors because firms must simultaneously manage property-level accounting, investor capital and distributio...

12/22/2025

One of my favorite parts of my job is seeing different warehouses and what lives inside those 4 walls.
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This week was the operating facility for a very well known food company who has been producing and distributing their products out of this building for over 75 years.
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If those walls could talk…

12/22/2025

FOR LEASE | 5,000 SF FLEX WAREHOUSE | TACOMA, WA
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50% warehouse, 50% Office/workshop space. Fully air conditioned with 24' clear height. Call Hunter Clarke or me to get a tour.
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12/19/2025

Multifamily construction may finally be finding its footing.

New multifamily starts are no longer in free fall—signaling a potential stabilization after two challenging years of elevated rates and slowing rent growth.

A few key takeaways worth watching:

• Starts are largely flat quarter-over-quarter, with nearly half of developers reporting no change in activity
• Construction costs for materials and labor are easing, improving project feasibility
• Despite declining starts since 2022, supply-demand imbalances continue to pressure rents in many markets

If this stabilization holds, it could reshape development pipelines, capital deployment, and long-term underwriting assumptions heading into 2026.

Curious to see how developers and lenders position themselves from here.

Multifamily starts were relatively unchanged compared to three months ago, according to the National Multifamily Housing Council’s December 2025 NMHC Quarterly Survey of Apartment Construction & Development Activity. Twenty-five percent of respondents reported that their companies started fewer pr...

12/18/2025

FOR SALE | 20.29 ac Entitled Industrial Development Site | Bremerton, WA
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This site as ±13 usable acres ready for industrial development. Just minutes from the naval shipyard that is slated to receive billions from the Shipyard Infrastructure Optimization Program. Lots of funding coming to the area. Neighboring 60+ AC also available. Let's talk about your big ideas.
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12/17/2025

Office real estate is feeling the impact of economic uncertainty more than most sectors right now.
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With unreliable jobs data and visible disagreement inside the Fed, policy decisions are being made without a clean read on labor market health—an issue that directly influences office demand, leasing velocity, and tenant confidence.
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As a commercial broker in San Diego, this reinforces why occupiers and owners need to look beyond headlines and focus on real-time market behavior, tenant quality, and long-term space strategies rather than short-term economic noise.
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Key takeaways from the article:
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• The October jobs report was permanently canceled and November’s report is delayed and considered “noisy,” limiting confidence in labor market data

• The Fed cut rates another 25 basis points despite inflation hovering near 3%, citing softer labor conditions that may be overstated

• Rare internal dissent within the Fed highlights growing uncertainty about economic direction heading into 2026
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In an environment like this, office decisions demand sharper analysis, conservative assumptions, and a clear understanding of how local market dynamics are evolving.
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Shutdown disruptions and dissent inside the Fed complicate decisions.

12/17/2025

I toured a warehouse space today that is currently occupied by an “antiques auction”.

It was straight out of an episode of hoarders.

12/16/2025

FOR LEASE | IOS YARD OR BUILD-TO-SUITE | TACOMA, WA
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49,223 sf IOS yard - fenced and graveled. Use as a contractor yard or lease with build-to-suit options. This has almost immediate access to SR 512 and is minutes to the I-5 and the Port of Tacoma. Interested? Let's talk!
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12/16/2025

If you’re waiting for the market to return to ‘normal,’ you’re already behind.