Oasis Towne Center Commercial Land For Sale
Site formerly considered for Costco development under new ownership and offered for sale.
Redding, CA (March 20, 2022) –– Haedrich & Co., Inc is pleased to present Oasis Towne Center a 150-acre site, available for sale all or in part. Quadrants range from just over 10 acres to approximately 63 acres individually and are zoned for retail and multifamily use. The property is located on the North and South sides of Oasis Rd immediately East of Interstate 5 and is an ideal location for EV charging station. Availability for retail project sites of this size adjacent to Interstate 5 are limited throughout California which makes this site especially attractive to National and Regional operators. The property is available for sale in its entirety or broken up into quadrants which may ultimately serve different development projects.
Steve Bade, Deputy City Manager of the City of Redding commented, “The Oasis Road Area is the City of Redding’s north gateway into our community with great freeway exposure and with the potential to create commercial and residential opportunities that further strengthen Redding’s position as the North State hub. The City of Redding looks forward to advancing and/or updating the concepts presented in the Oasis Road Specific Plan; developing partnerships that will expand our opportunity to improve the infrastructure within the area; and stimulate more market- and income- qualifying housing units to better serve our community.”
The current owner, Enact Partners, foreclosed on the property in late November 2020 and felt it was important to take the appropriate time to understand the property, local market, the city of Redding’s planning and development goals and to identify the right real estate company to expose the property to the market. Michael Schumacher, Enact Partners shared that “The market study showed us the site is well-located and it revealed the residents in north Redding are underserved from a retail services perspective.” This market gap will continue to grow with several residential developments in the Oasis area that are under construction, approved projects or going through the approval process including, 708 additional residential units coming from the following projects: The Reserve, The Oasis, 7 Bridges, Oasis North, and Tuscan Villas Phase 2. Other nearby sites are being actively explored for additional residential development.
The Oasis specific plan allows developers to consider other valuable retail such as neighborhood centers anchored by grocery or pharmacy to support this area North of Lake Blvd as well as strip center style retail providing personal services that are in demand ranging from fitness, salon and nail care to restaurant and food service. The ability to revisit the Oasis specific plan by collaborating with the City of Redding may open several possibilities for other in-demand facility types such as last mile distribution centers that capitalize on the logistical benefits of interstate adjacent regionally central sites.
“Development of such an important corridor to our city is an involved enterprise and we are fortunate to be working with a seller that has the capacity to assist and come alongside potential buyers to work through the logistics of development as well as consider seller carry or joint venture arrangements if appropriate.” - Jessica Whitlow, CCIM of Haedrich & Co., Inc.
About Jessica Whitlow, CCIM
Jessica Whitlow is a licensed commercial real estate broker associate at Haedrich & Co., Inc. and Certified Commercial Investment Member who has worked in Real Estate since 2008 in Los Angeles, Phoenix and Shasta County markets. She assists clients with commercial real estate sales, leasing, and consulting in retail, medical, office, industrial and multifamily sectors.
Contact:
Jessica Whitlow, CCIM
Haedrich & Co., Inc.
530-221-1127