OMAHA, Neb., May 1, 2015 /PRNewswire/ -- Union Pacific
Corporation (NYSE: UNP) today announced the sale of 111 acres in
Fremont, California to
Lennar Homes of California, Inc. The Company will recognize a
pre-tax gain of approximately $110
million in the second quarter of 2015 as a result of this
transaction. Lennar intends to utilize the property for
transit-oriented development, including a mix of residential,
office, retail, industrial, research and development, school, and
park uses. The sale parcel is the largest property in Fremont's new Warm Springs "innovation
district" and is adjacent to BART's new passenger station,
scheduled to open in the fall of 2015.
About Union Pacific
Union Pacific Railroad is the principal operating company of
Union Pacific Corporation (NYSE: UNP). One of America's most
recognized companies, Union Pacific Railroad connects 23 states in
the western two-thirds of the country by rail, providing a critical
link in the global supply chain. From 2005-2014, Union Pacific
invested more than $31 billion in its
network and operations to support America's transportation
infrastructure. The railroad's diversified business mix
includes Agricultural Products, Automotive, Chemicals, Coal,
Industrial Products and Intermodal. Union Pacific serves many
of the fastest-growing U.S. population centers, operates from all
major West Coast and Gulf Coast ports to eastern gateways, connects
with Canada's rail systems and is
the only railroad serving all six major Mexico gateways. Union Pacific provides value
to its roughly 10,000 customers by delivering products in a safe,
reliable, fuel-efficient and environmentally responsible
manner.
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SOURCE Union Pacific Corporation