Originally Posted by
billdelong
The story about the closing of OCRC is a cautionary tale... I might not have all the specifics exactly right but this is the story I heard:
The track was located in the back of a strip mall which also shared rental space with an adjoining church. Apparently there was a feud between the church and the track for some time over limited parking and the 3 day events from the track would spill over to Sundays which pissed off the church. Supposedly the church wanted to "expand" and got the landlord to non-renew the lease for the track so the church could assume the lease. After the track closed and removed all the contents from the facility, the church claims they miscalculated their budget and can't lease the extra space after all... oops... sorry, not sorry. The church eliminated their parking problem
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Lesson learned is for the track to own the property right?
So there was another track in Dallas called Mike's Hobby Shop where the land was owned by the track and the plan was for the track to remain in place indefinitely... until eminent domain allowed the city to widen the highway which wiped out something like 90% of the parking making it impossible to host racing at the venue and they were forced to sell.
That’s the story I remember reading here in the thread for that track. I’ve got one track over near South Bend, Indiana. Had a great arrangement with a mall. Built and really cool track in the back storage space art of the mall. Not in a store front. Great deal on rent, then mall sold. New owners wanted the track out immediately. But after weeks of negotiations they allow them to stay till end of this April. Then have to be out as fast as possible so the mall can be remodeled.
I know of another near St. Louis that has to relocate immediately after mid June. Another in Wisconsin that been waiting for the building to be sold for the last year. Locally, the owner of ThunderDome did buy the building. We probably wouldn’t be still open if he hadn’t. He bought it more to have a place to go. To not just sit home after selling his business. But I don’t think most track owners are in the position to spend $700,000+ on a building