New York City-based Studley Inc. worked with Ollier to find an appropriate spot to open the indoor track, which will utilize Italian-made electrical carts in a high-ceiling, climate-controlled setting. Additional details of the lease are not being disclosed, though local brokers point out that Ollier is now able to take advantage of below-market rents.

"Given the current market, he's now able to make better sense of the numbers," Jon Slater, managing director of Studley's Tampa office, tells GlobeSt.com. He adds that moving into an industrial building is better financially than seeking big-box retail space, which commands much higher rents despite its abundance.

Ollier, who has operated an outdoor go-kart track at an old auto dealership along US 19 for the past five years, says he plans to market Tampa Bay Grand Prix as a venue for corporate and other private events. He points out that having an indoor track, besides being able to offer air conditioning, prevents the need to cancel bookings because of inclement weather.