Port of Everett’s Waterfront Center all leased; more space considered

Published 4:57 pm Wednesday, July 15, 2015

EVERETT — The Port of Everett’s Waterfront Center is completely occupied, more than four and a half years after opening.

Demand has picked up so much that the port is considering adding more commercial space.

The Port of Everett’s Business Development Director Terrie Batuello wants to capitalize on that demand by converting one of the building’s two meeting rooms into more office space to lease.

“Having the building full has really created a buzz around here,” she said. “There’s activity late into the night.”

The port’s newest tenant, All Ocean Services, moved into its 1,532-square-foot space — the size of a modest suburban home — last week, and Bluewater Organic Distilling opened its new restaurant and cocktail bar Saturday.

Since opening in late 2010, the building has struggled to attract tenants for its roughly 43,500 square feet of office and retail space. The port spent $9.6 million to convert the former warehouse that stored equipment for oil spills into the waterfront’s marquee commercial building.

However, the recession and sluggish recovery kept demand low for commercial real estate in the area. Last year, the building was still only two-thirds full.

Port staff now are considering adding an adjacent building to attract additional marine services and retail businesses. Earlier this month, the Port Commission approved extending and expanding the lease for catamaran-maker ArrowCat Marine.

There are plenty of boaters in the area. The port’s marina — the largest publicly-owned marina on the West Coast — is 95 percent full.

The new building would be built on the inland side of Waterfront Center, along 13th Street. Port staff members will evaluate the potential market and develop a leasing strategy before bringing any proposal to the Port Commission.

Dan Catchpole: 425-339-3454; dcatchpole@heraldnet.com; Twitter: @dcatchpole.