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INLAND EMPIRE NEWS
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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.





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