The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 8, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
Hillwood Investment Properties and CBRE Investment Management are Buying 433 Acres in the Inland Empire for $544 Mil

3/02/23

Hillwood Investment Properties and CBRE Investment Management are acquiring 433 acres of land in Fontana for development of up to 6.6 msf of modern logistics facilities in the Inland Empire. The land, located at 9300 Cherry Ave, makes up the majority of the 633-acre Auto Club Speedway property at the juncture of the I-15 and I-10 Freeways. It is being sold by NASCAR for a price of $544 mil.

The buyers have already acquired the bulk of the purchase, 364.2 acres, in the first phase of the sale. The remaining land, 69 acres, is expected to trade on or before December 31, 2026 in the second phase of the transaction.

The property, the site of the former Kaiser Steel mill, has been home to a two-mile NASCAR race track since completed in 1996. The track, originally named the California Speedway, was renamed Auto Club Speedway in February 2008 when the Automobile Club of Southern California purchased the naming rights. The low-banked, D-shaped oval superspeedway has hosted NASCAR racing annually since 1997.

Hillwood’s planned development, Speedway Commerce Center, is already fully entitled and will include amenities to appeal to today’s sophisticated logistics tenants. NASCAR retains ownership of 90 acres of land at the site for a smaller ½ mile “Next Gen” short track, along with 106 acres for parking needs.





Return to the Archive page
 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media