“The Paine Field Effect” As Alaska Airlines Rolls out Ticket Sales
The much-anticipated airport at Paine Field took a huge step this week as Alaska Airlines began ticket sales for flights that begin February 11th. According to Puget Sound Business Journal, Alaska Airlines has added more flights to their schedule, after Southwest Airlines put an “indefinite hold” on their planned operations in Everett.
Alaska will operate flights to eight destinations from Paine Field and “added five extra flights a day after acquiring gate landing slots from Southwest Airlines.” The destinations include Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; and the following areas in California: Los Angeles, Orange County, San Diego, San Francisco and San Jose. Alaska Airlines indicated that flights will begin slowly and increase in volume as full operations progress. Flight schedules and additional details are available HERE-SALES.
As Andrew Harrison, chief commercial officer of Alaska Airlines said in a statement, “We’re tremendously honored to be a part of this historic moment with the opening of a brand new commercial airport.”
It’s not only travelers who will benefit from the new Everett airport: commercial real estate values have jumped as well. Earlier this summer, Puget Sound Business Journal reported on “The Paine Field Effect” a correlation between growth in Everett’s commercial real estate sector and Paine Field.
As of July, a Colliers International Report written by Denin Grcic stated that developers were “already raving about the business opportunities to follow” the opening of the airport. At the time of Grcic’s writing, there was 833,000 square feet of commercial space in Everett’s pipeline. He also projected a spike in sales prices for commercial properties in the area, which have traditionally remained lower than values in other Puget Sound markets. Values “are now projected to rise from average prices of $186 a square foot to $200 square foot by 2020,” the report adds.