Charlotte’s Motor Speedway Commerce Center Trades for $11M
- Jan 04, 2017
Charlotte, N.C.—Pegh Investments, owned by Gene Haas, a principal in the Kannapolis-based Stewart-Haas Racing team, recently acquired Motor Speedway Commerce Center, a 180,000-square-foot commercial and industrial property. According to the Charlotte Business Journal, the West Coast investment buyer payed $11 million for the property. Marcus & Millichap represented the seller in this transaction, a Concord-area family who had owned the building since 1998.
Developed by racing legends Dale Earnhardt and Jeff Gordon, the building is located at 6301 Performance Drive. The property is split between two tenants. Model train maker Lionel has its corporate office and distribution center at the site, and Fanatics Retail Group uses part of the building as distribution space.
The structure was built in 1997 by a joint venture group that included Earnhardt, Gordon and Ken Barber. The asset was built on a 16-acre site, within sight of the Charlotte Motor Speedway.
Image via Google Street View