CLASS RACER FORUM - OFFICIAL: Pacific Raceways For Sale

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Re: OFFICIAL: Pacific Raceways For Sale

No need to rush if you want to buy a track. Shop around. I bet there are a lot of them for sale. Perhaps this is an exception. But, most tracks that go away is mainly because the property becomes more valuable for another use.

Re: OFFICIAL: Pacific Raceways For Sale

Quote:

Originally Posted by Carl Weisinger (Post 448010)

Truly depressing..:(

Re: OFFICIAL: Pacific Raceways For Sale

After NHRA let Dallas Intl. close without making an offer and loosing one of the best facilities in the nation in a large motorsports marketing region one would think NHRA would consider purchasing the Seattle track. After all they are a not for profit organization and could use funds there as they did at the Indy and Gainesville and several other NHRA owned tracks. It's hard enough to keep smaller venue local tracks open but to loose a major track is almost impossible to replace.

Re: OFFICIAL: Pacific Raceways For Sale

I’m not quite as optimistic as some of you. IMHO in the Seattle market the land is probably worth more as houses. Think of it; probably 1500+ half million dollar homes. So just shooting from the hip ¾ Billion dollars in homes. Considering Washington is not the best business environment around that would be an awful big addition of industrial/Commercial space (so don’t count on all the space being filled). Having said that CBRE told me earlier this year that this market is tighter than it has been in years. Also, that particular city has no B&O tax so I’m sure they would be more than happy to rezone to residential and count on the constant flow of property tax rather than partially filled commercial space.
Just my opinion, I could be way off base.
Also, I thought they were going to be able to pay for the new facilities with the money from the gravel mining operation to build the new runway at SeaTac??? Or at least that was the story a few years ago.
Ultimately it’s their land to do with as they please and to me it looks like they are getting out of the racing business so why not take a big as a profit as possible on the sale? And to me that won’t be selling it as a racetrack.

Hope I’m wrong.

Re: OFFICIAL: Pacific Raceways For Sale

Sounds better for this year but who knows about long term...

http://www.competitionplus.com/drag-...ure-owner-says