Down Market Creates Opportunity for Tampa Bay Grand Prix

New Indoor Speedway Signs Approx. 40,000-SF Lease on Automobile Boulevard

Tampa, FL(June 22, 2009) - A down real estate market, which in turn has created a lower barrier to entry into new businesses, has allowed Mr. Bertrand Ollier to make his vision become a reality:  the Tampa Bay Grand Prix, a unique indoor car racing venue for amateur car racing enthusiasts.

Mr. Ollier has signed an approximately 40,000-square-foot lease for the entire industrial building at 12350 Automobile Boulevard in Clearwater, Florida, according to his real estate advisor, Managing Director Jon Slater of international commercial real estate services firm Studley.

I have had this vision for quite some time,” shared Mr. Ollier, who has been a part of this industry nationally for 10 years and helped over 30 indoor tracks in the USA with consulting and equipment.  “But high real estate prices made the venture here cost prohibitive.  While the soft market for some hurts business, for me, it has created an opportunity, and what better address to have for this business than Automobile Boulevard.  The marketing opportunities are endless!”

     “This assignment allowed us to adapt our service platform to the uniqueness of the requirement,” explained Mr. Slater.  “Because of the uncommon use, we had to identify properties and municipalities that would permit it. Potential properties were eliminated because of strict zoning issues or because they were not structurally equipped to handle car racing.” 

     Mr. Ollier, who anticipates opening Tampa Bay Grand Prix in July, will specialize in hosting corporate events, but will also accommodate families. 

     The landlord, Automobile Boulevard, LLC, was represented by John Jenkins and Brooke Pillinger of CB Richard Ellis.

About Studley. Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available atwww.studley.com.

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