CART May Move Lock, Stock and Barrel

TROY, MI-A national racing association is looking to move to a more entertainment-orientedlocation. Championship Auto Racing Teams Inc. is investigating a move from its headquarters at the Top of Troy building where it leases the 8th floor sand part of the 13th.

Its lease expires in April 2002. However, CART, which just finished a race on Belle Isle in Detroit last week and plans a race at Michigan Speedway next month, says it wants to open a new headquarters that would be more user friendly to the public. The Top of Troy, while in one of Southeast Michigan’s best office locations, is not suited for visitors.

“One of the things we’re considering is an office that would also allow us to showcase what we do, in a more entertainment-driven way,” Ron Richards, vice president of CART communications, tells GlobeSt.com. “We promote a very exciting sport, with races all over the world. These are very exotic cars, with big wings and no fenders that go more than 200 mph.”

He says company officials would like to be able to walk out the front door and demonstrate to clients and guests what one of the cars can do. A museum, race track and go-kart track would be something that might be incorporated into the next world headquarters, Richards adds.

“We’re even looking for a theme-park tie-in,” he says. “It’s difficult to do these sorts of things in the present facility, especially when we don’t own it.”

The company, which employs 60 people, is looking in and out of Michigan, hesays. Chicago, Indianapolis and Las Vegas are making pitches, and the company is interested in recent legislation out of Nevada, Richards adds.

“They just passed a bill that affords tax relief to companies involved in racing. We’re definitely interested in tax advantages,” he says.

Of course, the company could move somewhere in Michigan, especially if it wants to stay near automotive sponsors in the Motor City. Richards says Ford is one of CART’s major sponsors.

A decision should be made sometime in July or August. He would not say how much the company is paying for its offices now. Troy class A office space leases about $27 per sf.