Palm Beach County Commissioners have unanimously approved the redevelopment plan for the 186.4-acre former site of Palm Beach International Speedway, reversing a 4-2 vote in April 2022 to deny the project at 17047 Bee Line Highway. This allows New York-based Sixth Street Specialty Lending to move forward on its 2.12 million square foot Palm Beach Logistics Center, represented by attorney Seth Behn on behalf of the property owner.

The previous denial prompted a public arbitration hearing where it was ruled that Palm Beach County had improperly denied their application; notice was then filed under Florida’s Bert J Harris Jr Private Property Rights Protection Act if approval were not granted, which provides relief for property owners when government entities burden existing use or vested rights of their land.

The post Palm Beach County Approves Industrial Park on Racetrack Site After Reversing Course appeared first on CRE MarketBeat.