NASCAR has closed on a major real-estate sale of dozens of acres of land on the site of Auto Club Speedway, according to sources and public documents seen by SBJ, part of the reason that this weekend‘s racing action will be the last on the track‘s current two-mile configuration as the site is destined for redevelopment.
The identity of the purchaser is unclear, as a deed filed to San Bernardino County, Calif., this month indicated that NASCAR, through its California Speedway Corp. subsidiary, had closed a sale for land to an entity named Speedway SBC Development LLC, whose registration info ties back to real estate developer Hillwood, a business partner of NASCAR. SBJ revealed in March 2020 that NASCAR was working with the Dallas-based company, owned by Ross Perot Jr., to sell off parts of its vast properties, as it sought to find new revenue streams and better utilize the huge amount of acreage it owns across the country.
The sale price was not immediately able to be confirmed, but it is expected to be nine figures.
A document filed to the California Environmental Quality Act website indicates that the “Speedway Commerce Center” area that Hillwood was selling on behalf of NASCAR included 433 acres on the roughly 522-acre site. NASCAR has retained the rest of the land. The move is part of the reason that NASCAR had informed its fanbase and industry that 2023 would be the last time anyone races on the track as it currently stands.
New motorsports facility, approved by county in 2021, is for 90 acres of current site, surrounded by commerce center, which includes 98 acres parking
–New track at one point was 0.67-mile w/35K grandstand seats, 50K capacity. Likely will be half-mile track when finished (2/2) pic.twitter.com/WHbMNCaKmt
— Bob Pockrass (@bobpockrass) February 24, 2023