Nashville Superspeedway parcel in Wilson County sold for $5.1M

Approximately 147 acres in Wilson County within the Nashville Superspeedway property has been sold to set in motion phased redevelopment the buyer believes is a “game-changer for the Nashville industrial market.”

An entity owned by Panattoni Development Company purchased the parcel from Dover Motorsports for approximately $5.1 million, according to a Securities and Exchange Commission filing in March.

Panattoni plans a phased redevelopment that will start with a 689,440-squarefoot industrial building on a 1.5 million-square-foot building pad recently approved.

The company also will act as the master developer for the entire Nashville Superspeedway site of around 1,400 acres off Interstate 840, which largely closed in 2011.

Panattoni will market and redevelop the property in phases that could lead to additional land purchases, partner Whitfield Hamilton said.

“… This deal and project is a game-changer for the Nashville industrial market, and brings a scale to this market that just hasn’t existed to date,” said Hamilton, who pointed to existing infrastructure and the immediate road system that includes Interstate 840. “We can provide a campus environment for manufacturers and logistics companies with really unlimited expansion capabilities …”

A user for the first building to be constructed has not been confirmed. The goal is to complete the first building and pad this fall, said Jeff Konieczny, Panattoni’s senior development manager. The first phase site plan includes four buildings.

“We’ve had a great experience with them and it’s good to have a presence, and activity at that site,” said Joint Economic and Community Development Board of Wilson County Executive Director G.C. Hixson.

The racetrack itself is not part of any initial redevelopment plans or property sold or optioned so far, according to according to the SEC filing.

Dover Motorsports has utilized the racetrack for rental use that includes parking cars, spokesman Gary Camp said. All options for the property are still open, Camp said.

Panattoni initially announced plans in 2016 to purchase the entire Nashville Superspeedway property, but then elected to pursue a phased redevelopment for potential manufacturing, warehouse and distribution uses.