2023 Office Space Rent & Sales
- $23.61 2023 Avg. Asking Rent
- 3.13% Y-o-Y Avg. Asking Rent Change
- 14.06% 2023 Office Vacancy Rate
Everett office price per square foot in 2023 was $23.61 on average. This marked a +3.13% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.06% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Washington Class A & A+ Office Space$45.53
- Washington Class B Office Space$31.05
- Washington Class C Office Space$35.93
Everett, WA Office Asking Rents by Class
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2023 Office Construction in Everett, WA
- Everett, WA Total SF completed in 2023 33,845
- Everett, WA Total SF under construction in 2024 154,000
During 2023, 33,845 square feet of new office space were delivered across the market. At the close of 2023, the Everett office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 33,845 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 154,000 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Quadrant I-5 Corporate Park - Building B | 808 134th Street SW, 98204 | 68,574 | 1999 |
500 SE Everett Mall Way | 500 SE Everett Mall Way, 98208 | 20,000 | 1999 |
Twin Creeks Center | 500 SE Everett Mall Way, 98208 | 10,228 | 1998 |
North Sound Tower | 2707 Colby Avenue, 98201 | 145,000 | 1994 |
Colby Center | 2825 Colby Avenue, 98201 | 41,180 | 1994 |
332 SW Everett Mall Way | 332 SW Everett Mall Way, 98204 | 89,672 | 1993 |
Everett Mall Office Park II & III | 906 SE Everett Mall Way, 98208 | 199,907 | 1986 |
TERRACE EAST PROFESSIONAL CENTER | 9505 19TH AVE SE, 98208 | 19,526 | 1986 |
TERRACE EAST PROFESSIONAL CENTER | 9505 19TH AVE SE, 98208 | 19,526 | 1986 |
3224 Wetmore Avenue | 3224 Wetmore Avenue, 98201 | 17,382 | 1986 |
Worth noting among recent office completions on the Everett market is Quadrant I-5 Corporate Park - Building B, which is currently the largest new office development in the city, at 68,574 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Everett commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.