Industrial Park Approved for Former Racetrack Site – Robert Khodadadian

Palm Beach County Commissioners have unanimously approved the redevelopment plan for the 186.4-acre former site of Palm Beach International Speedway. This was a reversal of the commission’s 4-2 vote in April of 2022 to deny the redevelopment of the site at 17047 Bee Line Highway.

New York-based Sixth Street Specialty Lending can now move forward on its 2.12-million-square-foot Palm Beach Logistics Center. Attorney Seth Behn represented the property owner.

After the previous denial, the property owner filed for a public arbitration hearing where the judge ruled Palm Beach County improperly denied the site plan. The property owner filed notice of its intention to file a claim under the Bert J. Harris Jr. Private Property Rights Protection Act if its application was not approved. This law allows for relief for property owners when a government entity inordinately burdens the existing use or vested rights of the property.

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Palm Beach County Commissioners have unanimously approved the redevelopment plan for the 186.4-acre former site of Palm Beach International Speedway. This was a reversal of the commission’s 4-2 vote in April of 2022 to deny the redevelopment of the site at 17047 Bee Line Highway. New York-based Sixth Street Specialty Lending can now move forward …
The post Industrial Park Approved for Former Racetrack Site appeared first on Connect CRE.   

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate