NASCAR team spends $14 million for more land near Charlotte Motor Speedway
Hendrick Motorsports is adding another Concord property to its growing portfolio.
For around $14.2 million, a limited liability company associated with Hendrick purchased about 20 acres from Charlotte Motor Speedway in November, according to Cabarrus County records.
The site at 7001 Bruton Smith Blvd. sits squarely in Concord’s racing center. It’s wedged between the Camping World Racing Resort, zMAX Dragway and The Charlotte Fair. The site is also near the Charlotte Motor Speedway and Hendrick’s campus.
Hendrick has no plans for the site yet, according to a company spokesman. But the acquisition is another notch in Hendrick’s property belt.
Charlotte Business Journal first reported the purchase.
Hendrick’s NASCAR and automotive growth
On the auto side, Hendrick Automotive recently purchased a 2.6-acre plot at the Capitol Towers complex in SouthPark for $13 million. Hendrick also said there’s no immediate plan for that vacant land at 5954 Carnegie Blvd. in Charlotte.
Back to the NASCAR side, Hendrick Motorsports is planning to build a 204,000-square-foot, two-story manufacturing facility for a future tenant, investing $65 million to $70 million in Concord. Hendrick Motorsports previously declined to comment on the investment.
And Hendrick companies owner Rick Hendrick has also collaborated with Speedway Motorsports. Last year, he and Speedway teamed up for Ten Tenths Motor Club, a car fanatic club, with a lighted road course, a special event facility, garage and off-road driving trails near the speedway.
But a recent contract by Hendrick Motorsports Technical Solutions — a manufacturing company distinct from the Hendrick Motorsports NASCAR team — has been surrounded by controversy
That company entered into a $2.2 million with U.S. Immigration and Customs Enforcement for 25 Chevrolet Tahoe SUVs. A Hendrick spokesperson said the deal was routine and not political, but some have called for boycotting the company.
