Prefabricated wall assemblies for the construction of buildings have a corrugated panel and preferably include at least one backside panel. The corrugated panel has one or more vertical channels and several horizontal channels. The vertical channels extend the entire panel height and are recessed from the front face. The horizontal channels extending the entire panel width and are also recessed from the front face so they intersect with the vertical channel. The horizontal channels are almost as wide as the vertical channels, and are greater than one-half the vertical channel width. The backside panel is connected to the corrugated panel to form a structural panel assembly. The backside panel can be a shear panel or other backside flat panel, a backside corrugated panel symmetrically mirroring the corrugated panel, a backside corrugated panel asymmetrically mirroring the corrugated panel, a sandwiched corrugated panel, a relief panel or any combination thereof.