The acreage for the project is a portion of 2,600 acres that the United States District Court in April 2002 said was clean and could be removed from the Aerojet SuperFund site designation. All 2,600 acres is entitled for office, commercial and light industrial development.

Mike Diepenbrock, the Panattoni partner responsible for Northern California office development, says the joint venture expects to start planning for the first phase of the development in the "very near" future. "We want to be prepared to quickly address improved market conditions or prospective tenant requirements when they arise," he said.

GenCorp, based in Rancho Cordova, is a multi-national, technology-based manufacturer with operations in the automotive, aerospace, defense and pharmaceutical fine chemicals industries. Sacramento-based Panattoni is a privately held, full-service development company.