Home AEC Five Parcels of Vacant Land in Mountlake Terrace Sell for $13MM

Five Parcels of Vacant Land in Mountlake Terrace Sell for $13MM

SHARE

By Jack Stubbs

A Woodinville-based general contractor recently acquired five parcels of undeveloped land in Mountlake Terrace.

Last week, on Tuesday, January 30th, five parcels of vacant land in Mountlake Terrace totaling roughly 15 acres sold for $13 million, Snohomish County records show. The parcels were acquired by Woodinville, Washington-based Sierra Construction Company Inc., a general contractor that provides a variety of construction services. The seller of the parcels was Triad Development Inc., a Seattle-based real estate developer.

Neither the buyer nor the seller responded to calls for comment in time for the publishing of this story.

The five parcels comprise 15.22 acres of vacant land; public records designate the property category as “land and improvements.” The largest of the parcels, a 9.75-acre piece of land, is located at 6004 237th St. SW in Mountlake Terrace.

The five-parcel property is less than a mile from Mountlake Terrace, roughly three-and-a-half to the south of Lynnwood and four miles to the north of Kenmore. Additionally, the property is approximately one mile from access to Interstate-5 and about three miles from Washington State Route 99.

It is not clear what plans Sierra Construction has for the property, although no project lans have yet been filed with the city.

Founded in 1986, Sierra Construction provides a variety of services to its clients including construction management and concrete construction, and also undertakes design-build projects, according to the company’s web site. As a general contractor, the company specializes in commercial, industrial and tenant improvement construction.

Since the company’s inception, it has successfully completed over 14,000,000 square feet of distribution, manufacturing and warehouse buildings; 4,000,000 square feet of big box retail; 2,000,000 square feet of office; 1,500,000 square feet of multifamily and mixed use; 1,200,000 square feet of aviation related buildings; 1,000,000 square feet of retail, and over 400,000 square feet of public works and community buildings throughout the Pacific Northwest.

In addition to its recent acquisition of the parcels in Mountlake Terrace, Sierra Construction has several other projects in the works throughout the region. Some of the company’s in-progress developments include 4th Street Industrial, a 50,000 square foot industrial warehouse in Fife (expected completion of second quarter 2018); the Des Moines Creek Business Park Phase IV, a roughly 512,000 square foot industrial warehouse expected to be completed in spring 2018; and the 135-unit Edition Apartments in Bothell, a multifamily project which is also expected to be completed in spring 2018.

Founded in 1984, Triad Development manages projects of all product types, from tax credit apartments and luxury condos to high-tech office space and master-planned golf communities, according to the company’s LinkedIn page.