NASCAR speedway land sells for $543m for industrial development

NASCAR has sold land surrounding the Auto Club Speedway in Fontana, Calif., for a reported $543 million to Hillwood Development Company.

Hillwood Development Company plans to redevelop 633-acre racetrack in San Bernardino County into a 6.6 million-square-foot logistics campus, media outlets reported. NASCAR plans to keep 90 acres of the site to potentially build a half-mile track. The redevelopment, located at 9300 Cherry Ave., will be called the Speedway Commerce Center.

The acquisition follows the announcement in January 2022 of developing more than 200 acres of land adjacent to NASCAR’s  Daytona International Speedway. The impact of this development is expected to bring jobs and investment to Volusia County and Central Florida. The new project, called Commerce 500, will be developed in phases. There will be potential to build a