Yes, the siding still has some visible rail near some tanks on the western side of Water street, and it used to go across there. It may have served that building CAI was in at one point, the building was pretty close by. There is an abandoned plumbing supply company there too that may have been leveled in the blast.
I was shocked when I saw what happened, my friend Mike lived on Bates St. until last year and I used to park behind his house all the time for work. His backyard was 20 feet away from the back of the building that blew up. It's falling down now!
-Matt
"Hey, lets go snake hunting and dirt biking on the Saugus Branch, dudes!!!"