(Carl Cronan is editor of Real EstateFlorida.)

LAKELAND, FL-A week after dropping the checkered flag on its last race, USA International Speedway has been sold to New York-based Rockefeller Group Development Corp. for redevelopment as an industrial site. The price of the 113-acre expanse along State Road 33 north of Interstate 4 was not disclosed.

Rockefeller Group plans to build more than a million sf of distribution space geared toward big-box tenants. Lakeland, midway between Tampa and Orlando on I-4, is nationally recognized as a major distribution hub with numerous warehouses bearing widely recognized corporate logos.

“Central Florida is quickly becoming a prime distribution center for the state, replacing regional distribution hubs such as Atlanta,” Edgar Jones, vice president and regional development officer for Rockefeller Group in Miami, stated in a release. He notes that the company is confident in the region’s long-term potential and is seeking other development opportunities.

Rockefeller Group owns other industrial properties in New Jersey and California, with its only other current Florida property being the mixed-use Miramar Town Center. It plans to start development of the new Lakeland distribution center early next year.

USA International Speedway hosted numerous minor-league stock car races on its three-quarter-mile track, including the Hooters Pro Cup Series, from 1995 until its last event Aug. 2. An auction of buildings and equipment at the site was scheduled over the weekend.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.