BOTHELL — Commercial property developer Panattoni has broken ground on a new 243,000-square-foot industrial park in Bothell.
Located on a 29-acre parcel at 18712 Bothell Everett Highway, it will be called the North Creek Commerce Center.
Panattoni Development, a Newport Beach, California-based company, is partnering with PGIM Real Estate on the project.
The development will offer industrial, warehouse and office space, according to a statement from leasing agent Kidder Mathews. It will include three buildings: one at 124,500 square feet, another at 96,000 square feet and a third with 29,000 square feet.
Panattoni expects to complete the project in July 2024.
“We are excited to be offering a brand-new product to the Eastside market, which has been lacking close-in flex/manufacturing space,” Kidder Mathews Executive Vice President Zach Vall-Spinosa said in a statement.
“This development is not only creating a new state-of-the-art facility, it also will offer a high parking ratio, nearly three times what most projects can provide,” Vall-Spinosa continued. The industrial park will provide more than 600 parking spaces.
Will Amazon be a tenant? That’s unclear.
There was speculation two years ago the online retailer was considering opening a smaller fulfillment center in the North Creek area. Documents filed in July 2021 with Snohomish County Planning and Development Services mention the Bothell Everett Highway address and Amazon, according to a report in The Daily Herald.
However, all three of the buildings are listed as available, according to the leasing agents, Kidder Mathews and JSH Properties.
Vall-Spinosa did not respond to a request for information.
An Amazon spokesperson told The Herald in an email Tuesday that Amazon “is constantly exploring new locations and local options, while weighing a variety of factors when deciding where to develop future sites to best serve customers.”
Amazon already operates three delivery warehouses in Snohomish County: one in south Everett, another in northeast Everett at the Riverside Business Park, and a third, the newest, in Arlington. Amazon opened a 2.9-million-square-foot distribution center this summer, the largest in the state, just south of the Arlington Municipal Airport.
The North Creek development demolishes an RV and boat storage park, seven homes and a used car dealership.