October 26th 2024.
The iconic Bandimere Speedway, a staple in the automotive world since 1958, has been sold to California-based automobile auction firm Copart. The property, spanning approximately 150 acres, was purchased for a hefty $51 million, as reported by public records. The site, which includes the beloved race track and sprawling parking lots, has officially been under the jurisdiction of Morrison since August. This came after a close vote of 4-3 by the town board, resulting in the annexation of 125 acres that were previously outside of Morrison.
Copart has big plans for the property, announcing their intention to transform it into a storage facility for cars awaiting resale. As part of the annexation agreement, Copart has also agreed to transfer 16 acres near the C-470/Morrison Road interchange to the town for potential retail development, according to local newspaper Canyon Courier. The Bandimere family, who have poured their hearts and souls into the speedway for generations, have mixed emotions about the sale.
John Bandimere Jr. expressed his feelings on the matter, stating, "We have a lot of mixed emotions - I'll put it that way." The track will be relocating and has set their sights on the Hudson area, a small town in Weld County situated along Interstate 76. With a population of approximately 1,600 residents and a distance of 35 miles from downtown Denver, Hudson's main attraction has been a wild animal refuge that was once home to "Tiger King" Joseph Maldonado's tigers.
In a previous interview with The Denver Post, Bandimere revealed that the family was in search of 1,100 acres for their new location, a significant increase from their current space in Morrison. He clarified that their decision to leave was not solely due to the surrounding residential development, but rather the need for more space. "Most facilities need about 350 acres. Consequently, we haven't had any room for parking. We've been renting our neighbors' lots for parking, and they're under contract to sell also, because there's so much development happening in the valley," explained Bandimere.
Although the speedway has been a popular destination for hundreds of thousands of people each year, it has faced challenges due to the lack of water and sewer services. At a public meeting last year, Bandimere shared, "We have been unable to get water and sewer, so we are kind of in a freeze mode here." He had hoped to find a buyer who would keep the automotive legacy of his parents alive.
As of now, Copart has not responded to requests for comment on their plans for the property. This news, reported by BusinessDen, has caused quite a stir in the business world. Stay updated on the latest business news by signing up for our Economy Now newsletter. Who knows, you may just discover the next big story!
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