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Bracket Talk Bracket Talk Forum General Discussion - by FTI Palm Beach Raceway site back up for saleGo | New | Find | Notify | Tools | Reply | |
| Palm Beach Raceway site back up for sale | Login/Join |
| DRR Trophy |
Hope someone comes up with 30 million to bring it back !! https://www.loopnet.com/Listin...wwOW9q4czSCjs7gcp2-g Paging Elon... Elon 93 Dodge Stealth - 526 KB Hemi 14-71 SSI Roots Blown | ||
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DRR S/Pro |
Dont hold your breath. What happened to the rumors of a new track being built in south Florida? | |||
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DRR Sportsman |
Ya just more empty warehousing. Just what everyone needs. Investors are are not happy DEAD MONEY. Can't even get lease's People have gotten wise to the antics of rent lease and pricing. Just keep on building them. They will come>>>> SOMEDAY.. Never realized the amount of water within that Plat map.This message has been edited. Last edited by: TD3550, | |||
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DRR Sportsman |
As usual those things take time. It's still in the works but local opposition has been fighting the build. As far as palm beach goes this is a good thing. It went from IRG (the people that ruined IHRA) and are now bankrupt and only trying to sell to warehouse developers for upwards of 90 million dollars. Now its up for sale to anyone and everyone as make an offer. It would need a lot of money to bring it back but anything is possible. | |||
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| DRR Sportsman |
SGMP has been hinting on facebook about a possible purchase of PBIR. Fingers crossed on this one. | |||
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DRR Pro |
no price listed | |||
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DRR Pro |
Someone posted they contacted CBRE about the asking price...it is $75 Mil...I hope it comes back as a drag strip...but...if a developer decides to put a 2.1 million square foot data center on this site they will easily pay 75 mil for the property...very sad... | |||
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| DRR S/Pro |
Someone would have to really hate money to pay 75 million and keep it as a dragstrip | |||
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| DRR Sportsman |
I saw that post and I call bullcrap on it. He's claiming that it can't be zoned as a dragstrip Umm it already is zoned as a dragstrip. He then says the last offer was 75 million. Which was the one that they bailed on when the county commission denied the rezoning to build warehouses. | |||
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DRR Pro |
For it to make any sense as a dragstrip, I'm thinking the price would have to be WELL under $10M - probably more like $5M. If the IRG a-holes are really bankrupt, I'll drink to that. Mike | |||
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DRR Trophy |
I've heard that IHRA has made a serious offer on the place in the neighborhood of $11 million. Memphis and Darlington have also been pursued. Should see something from IHRA about in the next few weeks. ------------------------------------ Not Hot Rod, not Super Rod, not Quick Rod, but the one and only NimRod | |||
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| DRR Pro |
If you've been to PBIR, I'm not understanding these crazy dollar numbers being thrown around. While it was a great race track, it's basically a swamp, and quite a ways from I-95 and/or the turnpike. By comparison, I think I heard NHRA sold Atlanta Dragway for around $8 million. I believe Atlanta is on a larger parcel of land, it's solid ground, and less than a mile from I-85. Also, Atlanta is a major transportation and distribution hub. Mike | |||
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| DRR Trophy |
"Atlanta" dragway was an hour from the actual city of Atlanta in Commerce Ga. Not really fair to give it all the accolades of the city of Atlanta when it's nowhere near it. ------------------------------------ Not Hot Rod, not Super Rod, not Quick Rod, but the one and only NimRod | |||
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DRR Pro |
If the property hasn't already passed the EPA transfer inspections, it will never sell, for any price. "Despite the high cost of living, it remains popular." Dave Cook N375 | |||
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| DRR Sportsman |
I'd hardly call 175 acres of racetrack and parking a swamp. I've been going there since the early 80s and seen massive crowds with cars parked all the way down the middle of beeline highway. It still has plenty of potential to be a great facility. | |||
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| DRR Pro |
Richard, YES to it being a great race track, what I'm not seeing is that site as a great commercial site. Mike | |||
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| DRR Sportsman |
The county commission shot down the rezoning to commercial. So warehouses can't be built on that property. That's why it's back up for sale. And the best part of it all is IRG going bankrupt. | |||
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| DRR Top Comp |
IRG always goes bankrupt as soon as there is nothing else to steal. Welcome to private equity. | |||
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| DRR Pro |
I raced there in the early 80's as well. My dad got transferred to Broward County in 1983. It's always been my favorite race track. Just a cool vibe. Fingers crossed it can come back. Mike | |||
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| DRR Pro |
If IRG is really in bankruptcy, I'm thinking a judge will decide if/when it sells? Mike | |||
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Bracket Talk Bracket Talk Forum General Discussion - by FTI Palm Beach Raceway site back up for sale
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