New-tulare super drag strip development-portions for sale (1 Viewer)

[The Little Lizard]

Effective July 23, 2010 the prestigious nationally known real estate firm of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services is exclusively offering for sale a large portion of the Tulare Motorsport Complex and anticipated NHRA sanctioned super drag strip development, at the weblink provided below:

072810_tul_mm

"]]*******************UPDATE 11/4/11*************************
The Tulare Motorsports Complex has moved to Chowchilla, California, more information is available at web -link:

http://www.nitromater.com/nhra/29011-tulare-super-drag-strip-not-dead-just-moved.html

 

[Jeff]

So in one lot . . . for 1/2 mil an acre . . . they are selling the part of the development that stands to return the most consistent cash flow . . . and they are keeping the road development and speedway development?

Seems like they are saying "we had the great idea, now give us all our profit up front in one transaction, and then we'll spend some of the profits to actually implement the idea."

I'm in the wrong business.

 

[Ma Green]

It's starting to sound like another Drag City. Any bets on whether it ever gets built?????

 

[Jon Asher]

Dear Ms. Green:

No bet!

This sounds like a scam, or if not, these people are seeking investors in the wrong place, because I think if all of the members here pooled their money we probably wouldn't net more than, oh, maybe $50,000!

The prospectus reads like the HD Partners fiasco...

But I think I do know how you can find out if this is legit: Ask NHRA if they've ever even heard of this project. Then contact NASCAR and IndyCar. Their responses alone will tell you if this is something you should be investing in.

One more thing. Why did Ontario Motor Speedway fail? Why has, for all intents and purposes, Pikes Peak International Raceway failed?

Because in both instances excellent race tracks were foolishly built too far from the suburban areas necessary to support the track. Remember that Fontana is only about 10 miles from the old Ontario location, yet it's succeeding where OMS failed. Why? Because of all the bedroom communities that have mushroomed throughout the area. When Ontario was built it was largely empty land out there, and people from the Valley wouldn't make the trip (please do not write back about how you went to every race. YOU weren't the problem. It was the thousands of others who didn't go out who caused it to fail.)

Pikes Peak is too far from Denver and too far from Colorado Springs. Yeah, we all know that it isn't, but people just don't seem willing to make those drives.

Despite what this prospectus says about massive population nearby, it's not going to work, and that's why these people are trying to find someone else to bail them out of their lousy initial investment.

Jon Asher
Senior Editor
CompetitionPlus.com

 

[foamy]

One more thing. Why did Ontario Motor Speedway fail?


By 1980 the Ontario Motor Speedway bonds were selling at approximately $0.30 on the dollar. Generally unknown and unrealized by the bond holding public, the 800 acres of land originally purchased at an average price of $7,500 per acre, had now risen to a value of $150,000 per acre. Chevron Land Company, a division of Chevron Oil recognized the opportunity to acquire the bonds and effectively foreclosed on the real estate. For approximately $10 million, Chevron acquired land which had a commercial real estate development value of $120 million, without regard to the historic significance or future potential of the speedway.

 

[Tim5636sc]

Dear Ms. Green:

No bet!

This sounds like a scam, or if not, these people are seeking investors in the wrong place, because I think if all of the members here pooled their money we probably wouldn't net more than, oh, maybe $50,000!

The prospectus reads like the HD Partners fiasco...

But I think I do know how you can find out if this is legit: Ask NHRA if they've ever even heard of this project. Then contact NASCAR and IndyCar. Their responses alone will tell you if this is something you should be investing in.

One more thing. Why did Ontario Motor Speedway fail? Why has, for all intents and purposes, Pikes Peak International Raceway failed?

Because in both instances excellent race tracks were foolishly built too far from the suburban areas necessary to support the track. Remember that Fontana is only about 10 miles from the old Ontario location, yet it's succeeding where OMS failed. Why? Because of all the bedroom communities that have mushroomed throughout the area. When Ontario was built it was largely empty land out there, and people from the Valley wouldn't make the trip (please do not write back about how you went to every race. YOU weren't the problem. It was the thousands of others who didn't go out who caused it to fail.)

Pikes Peak is too far from Denver and too far from Colorado Springs. Yeah, we all know that it isn't, but people just don't seem willing to make those drives.

Despite what this prospectus says about massive population nearby, it's not going to work, and that's why these people are trying to find someone else to bail them out of their lousy initial investment.

Jon Asher
Senior Editor
CompetitionPlus.com

...what he said....

 

[glofria]

I'll gladly take that bet. Spent the weekend with some locals in that area and they say that $100 million of the total $400 million needed for the project is already in the Farmer's & Merchant's Bank. They expect earth to be moved by the end of the year.

Don't call NHRA, chances are they won't know much about it. Call IHRA instead.

Los Angeles, Stockton, San Jose, Sacramento, Fresno, Salinas, and parts of the Bay area are all within a 3.5 hour drive of Tulare.

 

[DragFan2]

I'll gladly take that bet. Spent the weekend with some locals in that area and they say that $100 million of the total $400 million needed for the project is already in the Farmer's & Merchant's Bank. They expect earth to be moved by the end of the year.

Don't call NHRA, chances are they won't know much about it. Call IHRA instead.

Los Angeles, Stockton, San Jose, Sacramento, Fresno, Salinas, and parts of the Bay area are all within a 3.5 hour drive of Tulare.

Well, just like one or more of the earlier posts stated, this sounds just like Drag City near Riverside, CA. They started moving some earth and then the equipment sat there for 6 mos. to a year and the whole project stalled until the plug was pulled. Moving earth does not impress anyone. I agree with Jon Asher, this is not looking too good.

 

[clwill]

Los Angeles, Stockton, San Jose, Sacramento, Fresno, Salinas, and parts of the Bay area are all within a 3.5 hour drive of Tulare.

Name a single attraction or event, other than Disneyland, that you'd do a 7 hour round trip to see?

 

[Alan]

They definitely have the room....the World Ag Expo grounds are huge....

I'll be there in February for the Ag Show, I'll have to see if any dirt is moving.

 

[Jon Asher]

If fans wouldn't drive less than 60 miles from the San Fernando Valley, or the same distance from LA proper, and maybe about the same from Orange County to Ontario, suggesting that they'd drive three-and-a-half hours ONE WAY to Tulare is a monstrous stretch.

People want convenience and ease of getting to and from an event. That's just one reason why LA (one among many others, obviously) doesn't have an NFL team -- because potential buyers can't find an easily accessible piece of ground on which to build a proper stadium. And that place has to be in a decent area and Freeway close.

Hard core fans? Hell, they'd drive from New York to Pomona for the Winternationals -- when casual fans won't drive out from Pacoima or Carlsbad.

We are not the potential paying fans for this track because we are, to some extent, hard core. Without casual fans drag racing will not grow.

Jon Asher
Senior Editor
CompetitionPlus.com

 

[The Little Lizard]

I believe what is being missed here is the central location of the Tulare Motorsports complex, and the false supposition that all attendies will be traveling 3 and a half hours from the SoCal San Bernadino area. The facility will serve of course the greater Los Anglees area (many locations with less than 3.5 hour commutes). But, more importantly Bakersfield maybe 30-40 minutes, Fresno a little over an hour, greater Sacramento area 2.5-3 hours, South Bay area, i.e. , San Francisco, San Jose down the 580 split onto the I-5 1.5-2.5 hours, and of couse the Santa Barbara, Monetery area 1-1.5 hours. Believe it or not their is life north of the grapevine.

*******************UPDATE 11/4/11*************************
The Tulare Motorsports Complex has moved to Chowchilla, California, more information is available at web -link:


http://www.nitromater.com/nhra/29011-tulare-super-drag-strip-not-dead-just-moved.html

 

[clwill]

Someone is smoking dope here. Maybe, MAYBE, people will do a 2-3 hour one-way drive to some major event, perhaps once or twice a year -- if, IF, the promoters pay the outrageous SoCal media prices to advertise it heavily. What keeps the doors open the other 50 weeks a year?

 

[clwill]

We are not the potential paying fans for this track because we are, to some extent, hard core.

Oh, come on Jon, you know that the ~1500 Mater members speak for all drag racing fans and racers.

 

[glofria]

Name a single attraction or event, other than Disneyland, that you'd do a 7 hour round trip to see?

Is this a retorical question for me only or the 20 million others living within that time frame? A simple answer is yes I would. I've done it many of times and if it is important enough, I would do it again. Haven't you? You see, I'm not a spectator or a groupie, I actually race cars. And please don't assume I go to Disneyland, haven't in over twenty years.

Jon, with all do respect, please don't generalize when speaking of us folks of California. True we are a diverse group, but there are many other things to do here than just going to drag races. Please look at a map and you'll see many communities, some large and some small, throughout the state that have few options for entertainment. The bigger ones may have a minor league baseball or hockey team, but not much other thand that.

BTW, you may want to research the NFL in LA a little more. Like the Staples Center before, some private investors are in the early process of building a new stadium with the hopes of attracting a team. They are building it first, and then they will fill it. The only reason that it hasn't been done yet, is because the tax payers don't want to flip-the-bill.

If you can't get the casual fan to go to the races, than you need to go to the casual fan. We along with several other racers have been going to the many charity car shows with our cars in an effort to draw intrest of people who would otherwise not know about drag racing. It may not seem to be much, but it is something.

Look everyone is entitled to their opinions, but let us have this without the negativity. The world is not lost, we will survive no matter what happens in th future.

 

[Silly Savage]

Someone is smoking dope here. Maybe, MAYBE, people will do a 2-3 hour one-way drive to some major event, perhaps once or twice a year -- if, IF, the promoters pay the outrageous SoCal media prices to advertise it heavily. What keeps the doors open the other 50 weeks a year?

It's called sportsman racing, like all other tracks....sportsman racing is what keeps most race tracks and race related businesses in business. It ain't the 2% Pro racer population.

 

[clwill]

Yep, people are making a fortune on the sportsman racer these days. Tracks blossoming up everywhere, and the existing tracks investing all those profits in making huge improvements.

Fine, someone put a tickler in their calendar, and let's revisit this thread every August 1st. If this facility actually exists and is still operating in five years, I'll gladly eat my words.

 

[glofria]

Again, why do you assume that they need to make a fortune running a track? Why not just run a successful business? With the exception of tracks holding NHRA National events, out of all the tracks in exisitance how many tracks are required to spend huge amounts of money for improvements and how often? Does a track need to have a national event to be successfuL? What is your interpretation of successful racetrack? Why can't they just have dragstrip?

They been running cars down an abandon airstrip in Fresno called Eagle Field and having sucess at it too. Look it up for yourself.

 

[clwill]

Again, why do you assume that they need to make a fortune running a track? Why not just run a successful business?

It's called sarcasm. Look it up: Sarcasm

Tracks are closing all over the place. I don't know of any track (not run by Bruton Smith) that isn't just scraping by, or on the verge of closing.

What is your interpretation of successful racetrack? Why can't they just have dragstrip?

But it's not "just a dragstrip", it's a "SUPER" drag strip.

Let's talk again in a year.

 

[The Counterfeiter]

Again, why do you assume that they need to make a fortune running a track? Why not just run a successful business? With the exception of tracks holding NHRA National events, out of all the tracks in exisitance how many tracks are required to spend huge amounts of money for improvements and how often? Does a track need to have a national event to be successfuL? What is your interpretation of successful racetrack? Why can't they just have dragstrip? They been running cars down an abandon airstrip in Fresno called Eagle Field and having sucess at it too. Look it up for yourself.

Well . . . let's talk. Appears that some people have a vision of building a racing Taj Mahal. To do that they are apparently relying on investors. Guess what those investors want - huge profits (i.e. make a fortune)!
I don't know if you and Mark are involved in this or have just bought into this pipe dream, but you might want to take a look how the only drag racing facilities built in recent history were financed. Out of a billionaire's pocket, and we have no idea if they turn a profit - they may be a convenient tax loss for Bruton. Face the facts - this isn't going to happen.