The expansion is part of a $35 million modernization project that began in September.The space should be ready for occupancy by October. Dennis Brisken of Orion Partners/Colliers International has the listing assignment.
By agreement with the County, tenants at the Industrial Park must be related to car or motorcycle racing. Brisken won the assignment in part because he rented space as part of a racing team at Sears Point for 12 years, and knows many potential tenants.
Brisken says the average rental rates for existing space in the park is about $0.68/sf. Rents in the new space will be closer to $0.75/sf. In the paddock area of the racetrack, rents run closer to $1.00/sf.
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