Great America in California in Santa Clara now has an expiration date.
Cedar Fair, which operates the park, announced Monday that it has sold the land and will eventually close the park.
The company sold the land for $310 million to San Francisco-based Prologis.
They also said they signed a deal with the buyer to continue operating the park for “up to 11 years” before finally closing it at the end of the current lease.
In a statement, they said the park should continue to look and feel the same for visitors – at least in the short term.
Park visitors on Monday were shocked to hear the news. Several employees at the park said they learned of the sale on Monday as well.
“It’s kind of a bummer you know, because we have kids here who enjoy that kind of thing, so closing it down isn’t really good unless you open up another better or bigger park somewhere else,” Hayward’s Jaime Gonzalez said. Gonzalez brought his kids to the park on Monday to ride a roller coaster. He said Great America is a favorite place his family visits when school is out in the summer.
Anthony Carranza who drove out from Santa Rosa to enjoy the rides said, “I think it’s tough. I’ve been coming to this park since I was seven, so many memories with my family. This is the first time I’ve come with just friends, So we’re making new memories today, so definitely a lot of nostalgia.”
Cedar Fair purchased the land in 2019 from the city of Santa Clara. Prior to that time, Cedar Fair said it had leased the land from the city for more than forty years. A representative from Cedar Fair noted in an email that this new deal allows them to continue operating “one of California’s most popular entertainment destinations” by leasing the property over a period of years.
Cedar Fair CEO and CEO Richard Zimmerman said in a statement that the company attempted to preserve Bay Area relationships in this sale: big developments.
“For our investors, sale and lease agreements allow us to monetize high-value assets in the heart of Silicon Valley at a very attractive multiplier,” Zimmerman continued.
NBC Bay Area reached out to Prologis as well, with a representative saying they do not currently have any specific plans for the future use of the land once the park is closed.
“As we look beyond the lease expiration date, we look forward to working with the local government on the long-term plan, which we will do through collaborative discussions with the city and the local community,” a Prologis representative said in an email.
They will have several years, as well as garden lovers, to find out.
The City of Santa Clara said it had just been informed of the news of the sale.
Lisa M. said: Gilmore, Mayor of Santa Clara, said in a statement: “On the surface, it looks like California’s Great America won’t change in the short term.” “My hope and goal is to keep Great America in California there for as long as possible in the long run.”
Great America has been in California in Santa Clara since 1976.
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