The 240-acre railyard has been in escrow for two years … with suitor Thomas Enterprises of Atlanta securing financing, environmental reports and the like. While that company remains close-mouthed, UP spokesman Mike Casey says the property should change hands within 8 weeks.
This would kick off one of the biggest developments yet in the Sacramento region … and would remove a big hurdle toward the potential development of a new arena to for the Sacramento Kings and other entertainment. Its projects include the Newport Beach Marina and the Sunnyvale Town Center. In the railyards, the company immediately would move on 10,000 new homes and a massive retail center.