Speed around Los Angeles, that grand place (6)
'speed around los angeles that grand place' is the definition.
The answer and definition can be both man-made objects as well as being singular nouns.
Maybe they are linked in a way I don't understand?
'speed around los angeles' is the wordplay.
'speed' becomes 'pace' (pace is a kind of speed).
'around' is an insertion indicator.
'los angeles' becomes 'la'.
'pace' enclosing 'la' is 'PALACE'.
Can you help me to learn more?
(Other definitions for palace that I've seen before include "Royal dwelling", "Royal residence", "very nice house", "Impressive residence of a ruler", "Splendid house".)