NASCAR, Hillwood partner to bring e-commerce and infrastructure to Central Florida
NASCAR is collaborating with a top real estate developer to bring e-commerce and infrastructure to Central Florida.
NASCAR and Hillwood announced on Tuesday that they will develop more than 200 acres of land adjacent to NASCAR home base Daytona International Speedway. The project, called Commerce 500, is expected to bring jobs and investment opportunities to Volusia County and Central Florida and 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 for the surrounding community.
“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 will offer tenants access to Central Florida and the business-friendly climate and vibrant labor force of Eastern Volusia County. NASCAR noted that a 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.
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. The project is also expected to add hundreds of quality jobs for area residents.
“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.”
With Commerce 500 starting, Hillwood added they 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.
“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, said John Magness, Executive Vice President at Hillwood.
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.