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Jan 22, 2008

Spokane Raceway Park Will Be Auctioned Off April 10

From a press release issued by Carter PR on behalf of J.P. King:

SPOKANE, WA (Jan. 22, 2008) -- Spokane Raceway Park -- a 588-acre complex with a 2.5-mile road track, drag strip and oval track -- will sell at auction Thursday, April 10, with J.P. King Auction Company managing the sale.

"This facility is well positioned to profit from the explosion of interest in all types of motor sports at all levels," said Barry Davidson, the court-appointed receiver for the track, which has been the subject of litigation between the previous owner and investors.

Craig King, president of J.P. King, said the timing is perfect.

"The phenomenal success of NASCAR and the Indy Racing League has created a surge of interest among people who want to see all types of racing -- including road racing, drag racing and oval track racing -- on a national and regional level. Spokane Raceway Park has the facilities for a wide range of auto and motorcycle events that can make it an extremely smart investment," said King.

In addition to the tracks, grandstands and support buildings, the property includes land that will be sold in separate parcels for potential development, according to King.

"When you look at the adjacent casino, the Kalispel Tribe's resort plans, and the growth that is already occurring in the Airway Heights area, the potential for this land is virtually unlimited," said King.

King said the firm has not yet defined how the parcels will be divided.

"We know that the racing facilities will be sold as one parcel, and there's an operating gravel pit that will be sold as a separate parcel. Beyond that, we'll be making the decisions in the next few weeks," said King.

Individuals interested in additional information about the upcoming sale may contact J.P. King at 800.558.5464 or visit the company's web site at www.jpking.com.

J.P. King, based in Gadsden, Ala., is the nation's leading auction marketing firm specializing in high-value properties such as land, superluxury homes, condominiums, ranches and developments. Recent sales have included waterfront townhomes in Florida, ranches in Colorado, and land in Georgia, Alabama and Wisconsin.