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Private real estate company Avenue 55 plans to build a 168,000-square-foot building on undeveloped land in Woodinville.

About 14 acres of undeveloped land in Woodinville was purchased by private real estate company Avenue 55 on Dec. 20, 2021.

The Seattle-based developer acquired three parcels of vacant land from Plywood Supply, Inc. for $12.75 million, according to King County records. Plywood Supply is a local distributor of building materials that operates throughout the greater Puget Sound region. The company, which formed in 1953, focuses on delivering wood products to registered contractors.

The lot is located at 18501 139th Ave. NE in the north industrial neighborhood of Woodinville. The land is adjacent to Little Bear Creek, and less than five minutes from Woodinville’s town center.

According to a site plan from the Broderick Group, the two-story industrial building will cover 168,000 square feet of room. Approximately 84,000 square feet of leasable space is available on each floor.

Construction is planned to commence in 2022, according to a listing on Windermere. The project is estimated for completion by winter 2023.

The site plan also calls for plenty of electric vehicle charging stations, a passenger and freight elevator, and four high loading doors.

Avenue 55 is a private real estate company focused on investment, development and value-added opportunities, according to its website. The company manages all aspects of development throughout the entire process. The services that the company provides include market analysis, site acquisition, entitlement, design, planning, financing, construction management, property management and asset management.

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