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Everett Office Market: Short on Tenants, Quality Space

EVERETT, WA-Wayne Laxson with Windermere's commercial division tells GlobeSt.com the Northend submarket of Everett isn't exactly up to its neck in tenants on the hunt for space. And for those who are, pickings are slim.

By Janet Parker | Updated on May 08, 2002

EVERETT, WA-”There’s not a great deal of nice space available in the Everett market right now,” says Wayne Laxson, an associate with the Everett office of Windermere’s commercial division. Then he quips, “but then our phones aren’t exactly ringing off the hooks with calls from tenants looking for new space.”

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.

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