Developer A & H Commerce Park LLC announced plans to build a 1.4-million-square-foot industrial and office park adjacent to the Homestead Miami Speedway. The project, named ParkSouth, is scheduled to begin construction before the end of 2008. Partners William Albornoz and Alex Sanchez purchased the 100-acre site from the City of Homestead last year through a bid process. The land was valued at $16.5 million. ParkSouth will offer options for industrial build-to-suit property, land sales, flex space, corporate offices and campus, retail space, warehouse and small offices. The land is part of the Homestead Park of Commerce, which is a federally designated Foreign Trade Zone, giving it special legal status outside U.S. Customs territory.