More details have been revealed about the recent sale of NASCAR’s Auto Club Speedway—the 2-mile, low-banked D-shaped oval superspeedway near Fontana, California. It was previously reported that NASCAR had sold 433 acres of the 522-acre site. 

Now, officials are stating the famed track was purchased for an estimated $559 million by Hillwood Development, owned by real estate mogul Ross Perot Jr. He plans to build a 6.6 million sq. ft. logistics hub called “Speedway Commerce Center,” according to the published reports. 

Plans still currently involve NASCAR building a new short track on the remaining acreage, better suited for the Next Gen cars, according to the new reports.