Local records show that a company “associated with” Hendrick Motorsports “purchased about 20 acres from Charlotte Motor Speedway in November” for around $14.2M, according to Desiree Mathurin of the CHARLOTTE OBSERVER. The site sits “squarely in Concord’s racing center.” A company spokesperson said that Hendrick has “no plans for the site yet.” The acquisition is “another notch in Hendrick’s property belt.” On the auto side, Hendrick Automotive recently purchased a 2.6-acre plot at the Capitol Towers complex in SouthPark for $13M. Hendrick also said that there is “no immediate plan for that vacant land.” On the NASCAR side, Hendrick Motorsports is “planning to build a 204,000-square-foot, two-story manufacturing facility for a future tenant, investing” $65M to $70M in Concord (CHARLOTTE OBSERVER, 12/15).
PIECES OFF THE BOARD: In Charlotte, Collin Huguley noted Hendrick in 2023 bought over 82 acres from Charlotte Motor Speedway “for nearly” $22.6M. That land is “adjacent to the Hendrick Motorsports campus and the Hendrick Auto Mall in Concord.” That purchase was “made to facilitate an expansion of the Hendrick campus to accommodate several manufacturing projects there.” Hendrick has “drawn major manufacturing investments in recent years to its land at and around the Concord campus.” General Motors Performance Power Units is “currently building its headquarters there.” GM PPU is “building power units for the new Cadillac Formula One team.” Hendrick Motorsports Technical Solutions -- a manufacturing business -- earlier this year opened its “two-building, 160,000-square-foot headquarters operation adjacent to the Concord campus.” GM Defense also has a “significant manufacturing presence around the Hendrick campus” (CHARLOTTE BUSINESS JOURNAL, 12/12).