(rshsdepot) Sacramento, CA

["jdent1_@_optonline.net" <jdent1@optonline.net>]

From the Sacramento Business Journal=2E=2E=2E

U=2EP=2E sells downtown railyard building

Union Pacific Railroad has sold the Railway Express Annex at the downtown
Sacramento railyard to a local development team, U=2EP=2E announced Thursd=
ay=2E=20

A partnership that includes Sacramento architect Lynn Pomeroy and develope=
r
Johan Otto, REA Partners, will now begin the process of seismic
retrofitting and rehabilitation necessary to turn the 77-year-old building=

into a mixed-use structure that will have retail space on the first floor
and offices on the second=2E=20

Terms of the sale were not disclosed=2E=20

Work will begin immediately to weatherize the REA building and protect the=

building from further deterioration=20

"I am very supportive of this purchase because it will not only protect th=
e
building from the elements in the near future, but it will assure the
historic preservation of the REA building," said Sacramento City
Councilmember Ray Tretheway=2E "We are looking forward to this being the
first private-sector partnership in the development of the U=2EP=2E railya=
rds=2E"=20

The 24,800-square-foot building was constructed in 1925 and used as a
railway terminal post office=2E=20

Pomeroy said the development plan for the REA building will be "consistent=

with the master development plan for the Depot District and the city's
plans for the historic depot and an intermodal transportation facility=2E"=
=20

Buzz Miller, a real estate agent with Grubb & Ellis Co=2E, represented bot=
h
Union Pacific and REA Partners in the transaction=2E=20



=A9 2003 American City Business Journals Inc=2E



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=================================
The Railroad Station Historical Society maintains a database of existing
railroad structures at: http://www.rrshs.org

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End of RSHSDepot Digest V1 #570
*******************************

=================================
The Railroad Station Historical Society maintains a database of existing
railroad structures at: http://www.rrshs.org