Laxson says most of Everett's Class A office space is tied up in the buildings owned by Art Skotdahl—a local commercial real estate king pin. And, for the most part, Skotdahl is sitting on well-tenanted properties, leaving little available for tenants seeking quality Everett address.

At the end of the first quarter, a report out of the Seattle office of Grubb & Ellis counted 3,542,626 sf in the Northend market, of which 1,305,739 sf belong to Everett. While the report lists the city as having a 19.9% vacancy rate, Laxson notes that much of what is vacant falls short of class A ranking.

Laxson adds that most of the higher-quality office space that is available here is very small pieces. "We recently had a client looking for around 2,000 sf of office space in downtown, but it's been hard to find anything of good quality in that size range. There are a lot of 1,200-sf to 1,500-sf spaces available, but they're mostly in class B and C buildings."

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