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The Sacramento Bee, Calif., Bob Shallit column.

Knight Ridder/Tribune Business News

| October 02, 2004 | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. (Hide copyright information)Copyright

By Bob Shallit, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News

Oct. 2--1-ACRE STATE PLOT SELLS FOR $3.45 MILLION AT SECOND AUCTION: That Caltrans parcel downtown suddenly has become a hot commodity.

In a new auction -- mandated by a protest of the way an earlier one went down -- a local development team has secured the odd-shaped, 1-acre lot with a bid of $3.45 million.

"A lot of money," says Dain Domich, a principal with the Sacramento development firm Separovich Domich Real Estate that teamed with Ravel and Rasmussen Properties on the winning bid.

The parcel, a park-like triangle at Second Street and Capitol Mall, …

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