Stillwater Business Park, a Shovel-Ready Municipally-Backed Large-Parcel Business-Park in Shasta County Selects Cushman and Wakefield as Broker

The Economic Development Corporation of Shasta County is Eager to Start Using Stillwater Business-Park for Business Attraction

REDDING, Calif. (May 8, 2008) - The city of Redding selected Cushman & Wakefield to broker Stillwater Business Park, a shovel-ready large parcel campus designed to attract corporate users with office and industrial projects.

Heading the Cushman & Wakefield team is Oakland-based senior director John Troughton, who earned the nickname "Mr. Richmond" for successful commercial real estate and private equity-related real estate deals he brokered in San Francisco's East Bay. Troughton is responsible for large acre land sales to companies that brought thousands of jobs to that area.

His task is to introduce corporations to Stillwater Business Park, a 700-acre city-owned and developed, master-planned business park.  Collaborating with Troughton are fellow Cushman & Wakefield brokers Chris Strain, Sacramento, Calif., Tom Usher, Portland, Ore. and Stuart Milligan of Los Angeles, Calif.

"Large sites with the full backing of city government and with all permits and utilities in place, are scarce these days," said Troughton.  "For example, only five non-user-owned sites larger than three acres exist between the Bay Bridge and Carquinez Bridge.  In comparison, my Redding team will represent 14, ready-to-go sites from five to 95 acres.  That's sure to generate interest among business leaders who seek to easily expand manufacturing or consolidate their facilities in a business-friendly community with a great labor force."

The Economic Development Corporation of Shasta County has been working with the city of Redding for several years on this project due to the shortage of shovel-ready large parcel sites available. 

"We chose Cushman & Wakefield because of their international reputation and strong network of offices. Troughton impressed us with his past successes at representing similar projects in the Bay Area,” said Jim Zauher, director of Redding Economic Development. “He's a guy known for his tenacity and zeal who assembled a team of experts who are passionate about helping communities succeed."

Businesses that relocate to the Stillwater Business Park will receive hiring incentives and tax credits made available by the EDC’s Enterprise Zone Program. The program targets economically distressed areas using special state and local incentives to promote business investment and job creation. 

“We are excited to begin leasing these parcels at Stillwater with the help of the Cushman & Wakefield team,” said Greg O’ Sullivan, President of the Economic Development Corporation of Shasta County. “Our purpose at the EDC is to improve the overall economic health of the region and this project will assist in meeting that goal.”

The City of Redding expects to break ground at Stillwater Business Park on June 12. The site is located adjacent to the Redding airport, east of Interstate 5. For more information call John Troughton at (510) 908-5007 or email johntroughton@cushwake.com.

A nonprofit corporation, the Economic Development Corporation of Shasta County provides information and facilitation for companies looking to expand or relocate in Shasta County. For more information on the Economic Development Corporation of Shasta County, visit its website at www.shastaedc.org.

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