Youngstown & Southeastern Buys 35-Mile Rail Line
NORTH LIMA, Ohio – The Youngstown & Southeastern Railroad Co., 11760 Market St., has completed the purchase of the 35.7-mile rail line that runs from Poland Avenue in Youngstown to Darlington, Pa.
The total sale price was not disclosed although related real estate transactions were completed last month in Columbiana and Mahoning counties.
On Oct. 18, Mule Sidetracks LLC sold the land along the tracks in Columbiana County to YSRR for $1,815,507. On that same day, Mule Tracks sold the railroad 14 parcels in Mahoning County for a total sale price of $809,153.
Mule Sidetracks is an affiliate of MarkWest Energy Partners LP, based in Denver. In 2013, it paid the Columbiana County Port Authority $3 million to buy the rail line. At the time, MarkWest was expected to secure business along the line’s right of way related to Utica shale oil and gas exploration, and the port authority was hopeful that Mule Sidetracks would build a processing plant in Columbiana County.
A notice posted Aug. 30 by the U.S. Surface Transportation states YSRR has been operating the line and connecting track since 2006, first pursuant to a lease with the previous owner, the Columbiana County Port Authority, and subsequently through an operating agreement with Mule Tracks.
Going forward, YSRR will again own and operate the line and contiguous rail segments. The shortline connects with the Norfolk Southern Railway in Youngstown and CSX Transportation in Lowellville.
YSRR will remain a Class III carrier, with annual revenues of less than $5 million, the notice states.
It is an affiliate of Indiana Boxcar Corp., based in Connersville, Ind.
Copyright 2021 The Business Journal, Youngstown, Ohio.