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 the documents show that a transfer tax payment of $598,064 was made as part of the agreement, which through California’s real estate conversion rate suggests that NASCAR sold the […]
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