(Cedar Rapids, IA) – Hawkeye Downs, a
prominent venue and racing attraction in Cedar Rapids, Iowa, today announced it
has formally sold its property to Cellsite Solutions of Cedar Rapids. Cellsite will now own all 93 acres of the
property, but Hawkeye Downs will lease back the exposition halls and racing
facilities. It’s a unique partnership between a private company and a nonprofit
organization—a partnership that means Hawkeye Downs continues to host events
and racing, while Cellsite Solutions will have plenty of land to expand its
“Going forward for Hawkeye Downs, it
will be business as usual,” said board president, Julie Kraft. “We will
continue to operate as a nonprofit organization and host events in our
exposition halls. We will also have our regular racing season. Selling the
property simply means we can worry less about maintaining 93 acres and instead,
focus on improving Hawkeye Downs and the events we hold here.”
“Our company is growing and we needed
ground to expand upon,” said Cellsite Solutions President Carter Kramer.
“Acquiring this property allows us to stay in Cedar Rapids with plenty of room
to grow in the future. Plus, it’ll be pretty cool to have a racetrack right out
our front door.”
Hawkeye Downs sold the property in
southwest Cedar Rapids for $2.6 million to Cellsite Solutions, which will
eventually move its headquarters to the site. Under the purchase agreement,
Cellsite Solutions will also provide $200,000 in capital improvements to
Hawkeye Downs. That work has already begun with repairs being made to the roof
on the North Expo Hall late last year.
“We are so excited about the
possibilities and the future at Hawkeye Downs. The sale of the property eases
our debt burden and allows us to make necessary improvements and upgrades,”
said Kraft. “Hawkeye Downs has a rich history in our community and our board
members take that seriously. We know many people have fond memories here. It’s
our intent to make Hawkeye Downs be the best it can be, so it can be around for
many more years. The sale of our property to Cellsite Solutions makes that
“Hawkeye Downs has such potential. I see
that potential. I believe our partnership with this nonprofit provides an
opportunity to make Hawkeye Downs a great destination again,” said Kramer.
“We couldn’t ask for a better partner
than Carter Kramer and Cellsite Solutions,” said Hawkeye Downs Racing Director
Kevin Korsmo. “Carter has a contagious enthusiasm for racing. As part of this
partnership, he can offer ideas for events and racing. We expect race fans will
be seeing a lot more entertainment in the near future.”
All events scheduled for Hawkeye Downs,
including next racing season, will go on as planned. Next weekend Hawkeye Downs
hosts a gun show, followed by an RV show in February. Events are scheduled out
into June 2021. Hawkeye Downs will celebrate 100 years of racing in 2025.
About CellSite Solutions: CellSite Solutions is a
nationally recognized company, based in Cedar Rapids, Iowa. CellSite Solutions provides
used telecommunications equipment as well as telecommunications site services.
The company offers quality secondary market and surplus outside plant
equipment, a menu of installation services and includes a craning and logistics
division. CellSite intends to redevelop its current location at 1720 I Avenue
NE in Cedar Rapids and move its headquarters to the Hawkeye Downs property. Currently, the company has 55 employees, with
plans to expand and increase its employee base to more than 70 employees in the
next 24 months.
About Hawkeye Downs: Each year this premiere venue hosts
dozens of trade shows, conventions, and gatherings in its exposition halls and
on its vast grounds. Hawkeye Downs is also home to one of two asphalt
racetracks in the state of Iowa. Every
May through August, you can hear the roar of race engines almost every weekend.
Founded in 1925, Hawkeye Downs was previously known as Frontier Park and the
Cedar Rapids Speedway. Hawkeye Downs is a nonprofit organization that is
governed by a volunteer Board of Directors.