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12/6/2002



Rail News: Rail Industry Trends

Florida East Coast sells former Miami yard


On Dec. 6, Florida East Coast Railway (FECR) sold its former Buena Vista yard to Biscayne Development Partners L.L.C. for $34.5 million.


The 56-acre yard, the largest vacant parcel near downtown Miami, historically was an integral part of FECR's operations. The 351-mile regional most recently leased part of the site to the Port of Miami, which used the land as a container storage facility.


"The sale of the yard is part of our ongoing program to realize greater value from our non-core assets," said Robert Anestis, chairman and chief executive officer of FECR parent Florida East Coast Industries, in a prepared statement.


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