As part of the merger, Santa Fe Pacific Realty, the real estate arm, was incorporated after the announcement.
In 1986, the Interstate Commerce Commission denied the merger, as it would have created a monopoly on mainline freight movements in California and its bordering states.
The real estate arm was spun off in 1989 and was renamed Catellus Development Corporation to manage the stations and land parcels next to the railroad tracks remaining under their ownership.
In late 2010, The private equity firm TPG Capital announced its intent to acquire a collection of real estate and the Catellus trademark from ProLogis.
In the San Francisco Bay Area, it currently owns the Pacific Commons retail center in Fremont.