Urban Indiana

Penske buys key parcel across from Speedway with plans to rethink track's 'front door'

Penske Entertainment Corp. has acquired a small but high-profile property across from the Indianapolis Motor Speedway's main entrance on 16th Street that will give track officials a large swath of contiguous land as they rethink what the speedway's "front door" looks like.

The vast majority of land on the south side of 16th Street across from the 113-year-old track is owned by Penske Entertainment and largely is used for parking. The most obvious exception has been the 0.38-acre parcel that contains the single-story business Speedway Monogramming, directly across from the Tunnel 2 entrance at 4601 W. 16th St.

The parcel is bracketed to the west, south and east by property owned by Penske Entertainment, including the corporate offices of IMS Productions at 4555 W. 16th St. and the IndyCar Series at 4551 W. 16th St. Both are set back from the street and fronted by large parking lots.

More below:
https://www.ibj.com/articles/penske-buys-key-parcel-across-from-speedway-with-plans-to-rethink-tracks-front-door