Deals
Lennar Said to Reach California Land Deal for 3,000 Homes
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Lennar Corp. agreed to buy 112 acres (45 hectares) from Union Pacific Corp. in the San Francisco Bay area city of Fremont, California, where the builder plans to construct 3,000 homes, said a person with knowledge of the deal.
The railroad chose Miami-based Lennar as the buyer after a bidding process that attracted other suitors, said the person, who asked not to be named because the agreement is private. The homebuilder would also construct 1 million square feet (93,000 square meters) of offices and research and development space on the site, near Silicon Valley, and a roadway to a transit station, the person said.