With the goal of becoming a Verizon IndyCar Series team in the next few years, Juncos Racing announced that it will relocate to new headquarters located on Main Street in Speedway, Ind.

The team, which fields six cars in the Mazda Road Indy, plans to build a $3 million, 41,000-square-foot Juncos Technical Center. An additional 30,000 square feet will be available for future expansion so Juncos can do machining, painting and other work in-house, limiting the need for outsourcing.

Construction is expected to begin in June, with completion projected for early spring 2016.

“The creation of the Juncos Technical Center marks a historical turning point for the team,” team principal Ricardo Juncos said. “Less than 10 years ago, we were a small karting team in Florida, and I continue to be amazed by the amount of growth and success we have seen in such a short period of time."

Juncos Racing has won two championships in the Pro Mazda Championship presented by Cooper Tires, and currently fields the cars of Spencer Pigot and Kyle Kaiser in Indy Lights Presented by Cooper Tires. Juncos said the growth of his team helps advance drivers, mechanics and other team personnel up the racing ladder.

“The team has grown larger and stronger each year, which created the need for a facility like the JTC,” he said. “This new facility will allow Juncos to continue to expand into new series. This undertaking wouldn’t be possible without the incredible passion and desire of every member of Juncos Racing. I am truly grateful for all of the hard work they put in to make this dream a reality."

CFH Racing and the Dallara U.S. headquarters already are located on Main Street, with AJ Foyt Racing having a satellite facility on Main Street to complement its base in Waller, Texas.