DAYTONA BEACH, Fla., Jan. 25, 2022 /PRNewswire/ -- Hillwood and NASCAR will develop more than 200 acres of land adjacent to NASCAR home base Daytona International Speedway. The impact of this development is expected to bring jobs and investment to Volusia County and Central Florida. The new development project, called Commerce 500, will be developed in phases with the potential to build out to about two million square feet of industrial space and much-needed new roads and infrastructure for the surrounding community.
Last year, Hillwood and NASCAR announced a partnership to evaluate surplus land at NASCAR's existing motorsports facilities across the U.S. to realize the potential of sites spanning 13 markets nationwide. Commerce 500 at Daytona Beach joins Hillwood/NASCAR projects in Kansas City, Miami, Richmond, and Southern California.
"Since March 2020, we have been working with Hillwood to evaluate the highest and best use for land not currently being utilized across all NASCAR-owned racetracks," stated Lesa France Kennedy, Executive Vice Chairperson NASCAR. "With their help, we've been able to contribute to additional, long-term economic development across several communities in which we race, including in the state of Florida."
Located at the intersection of I-4 and I-95, the Commerce 500 project offers tenants unparalleled access to Central Florida and the business-friendly climate and vibrant labor force of Eastern Volusia County. The new business park is also within a half-mile of the Daytona International Airport and the air cargo that passes through Volusia County's busiest airport. The project is expected to add hundreds of quality jobs for area residents.
Hillwood has started construction on the first phase of Commerce 500 with roughly 635,000 square feet of state-of-the-art industrial space for an e-commerce tenant. "Daytona International Speedway has worked closely with Hillwood to evaluate the highest and best use for our properties, which includes this particular area adjacent to the track and airport," stated Speedway President Frank Kelleher. "We host the premier motorsports event in the U.S. with the Daytona 500. But bringing new businesses, new industries, and overall stimulating the greater Volusia County economy is also a big focus of our company."
John Magness, Executive Vice President at Hillwood, remarked, "We are pleased to make this announcement and the progress of our work with NASCAR that it represents. We value the opportunity to serve our customers and add jobs for communities like Daytona Beach."
With Commerce 500 starting, Hillwood can now accommodate 18 million square feet of future space in Florida. This includes the 3000-acre AllianceFlorida in Jacksonville and 150-acre Speedway Commerce Center in Homestead, FL. Speedway Commerce Center, adjacent to NASCAR's Homestead-Miami Speedway, is one of the most significant planned industrial developments in South Miami-Dade County, with Amazon as an anchor tenant.
About Hillwood
Hillwood is a leader in acquiring and developing high-quality industrial properties with 231.7M S.F. across the U.S., Canada, the United Kingdom, Germany, and Poland. Hillwood also pursues well-located, functional land in the path of progress and has one of the largest land banks with a capacity of over 100M S.F. for future development. Hillwood collaboratively builds successful partnerships with public and private landowners, as well as other developers, to execute and invest throughout a broad spectrum of industrial projects. As a privately held company, Hillwood possesses the depth of capital, market expertise, industry relationships, and a forward-thinking vision to buy and build industrial properties that meet evolving markets' logistics, distribution, and manufacturing demands.
For more information on Hillwood's latest industrial availabilities across the U.S. and E.U., visit Hillwood.com.
About NASCAR
The National Association for Stock Car Auto Racing (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 16 of the nation's major motorsports entertainment facilities. NASCAR consists of three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander RV & Outdoors Truck Series™), four regional series (ARCA Menards Series, ARCA Menards Series East & West, and the NASCAR Whelen Modified Tour), one local grassroots series and three international series. In addition, the International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, Americrown Service, and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico, and Europe. Visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat ('NASCAR').
HILLWOOD MEDIA CONTACT: | NASCAR MEDIA CONTACT: |
Jennifer Cheek +1 972 220 2965 | Matt Nordby +1 704 293 1281 |
jennifer.cheek@hillwood.com | mnordby@nascar.com |
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