The 35.5-acre site stands on Vermont Avenue, just north of the San Diego (405) Freeway. The lease signed by new tenant Insurance Auto Auctions will allow the company to consolidate its LA operations in one area.
David Prior of the South Bay office of Klabin Co. represented the landlord, privately held Vermont Holdings. Jeff Morgan of CB Richard Ellis spoke for the tenant.
Ascot Park closed for racing 10 years ago and has stood vacant since. It was the last of several relatively small speedways that used to dot LA's landscape, but eventually were forced out of business by factors ranging from sagging attendance to the soaring cost of liability insurance.
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