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Chip Ganassi Racing sells headquarters property

Chip Ganassi Racing has sold its 22-acre headquarters to a top competitor as the Concord-based NASCAR team shuts down.

A limited liability company whose mailing address is the same as Hendrick Automotive Group in Charlotte bought the Ganassi team property for $10.2 million on Sept. 3, Cabarrus County property tax records show.

CGR fields two full-time cars in NASCAR’s top series based out of its 214,500-square-foot shop at 8500 Westmoreland Dr. NW, near Concord-Padgett Regional Airport. Ganassi also runs IndyCar, IMSA and Extreme E teams out of its facilities in Indianapolis.

Regarding the property, Trackhouse is expected to take over CGR’s Concord shop under a landlord-lessee relationship with Hendrick, according to a report by the Charlotte Business Journal. Hendrick Motorsports, owned by Hendrick Automotive Group founder Rick Hendrick, is located about six miles from CGR’s site in Concord.

Charlotte Observer