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Richmond Raceway sells some land

Richmond Raceway has recently closed a pair of land deals totaling more than $15 million, paving the way for two new industrial projects.

The larger of the two deals land-wise involved the sale of an undeveloped 120-acre plot at 5901 Richmond Henrico Turnpike. It sold for $7.7 million to Dallas-based Hillwood Enterprises.

The acreage represents about half of the land Hillwood is looking to build on for its planned 2.6 million-square-foot industrial complex, codenamed Project Speedway.

Plans filed with the county show that Hillwood is seeking to build on a total of 247 acres, with the other half of the project rising across the street at 5900 Richmond Henrico Turnpike. As of press time, county property records show that land is still owned by Richmond Raceway.

Both parcels are undeveloped and used as parking for the Raceway.