Great America theme park to close in ‘up to 11 years’

There is still plenty of time for visitors to the Santa Clara, California, Great America amusement park to visit before the rides close

Cedar Fair, who runs the park, disclosed that it sold the property for $310 million but will continue to run it for "up to 11 years" before closing.

The land was purchased by Prologis, Inc., a Bay Area real estate firm. What it will do with the property is still unknown.

Richard A. Zimmerman, president and chief executive officer of Cedar Fair, stated

In 2019, Cedar Fair acquired the property from the State of California and the City of Santa Clara. Since 1976, the park has been open.

The operators of Great America in Santa Clara announced they sold the amusement park to real estate investment company Prologis for $310 million

California's Great America set to close in 11 years, long goodbye planned after land sold - ABC7 San Francisco.

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Cedar Fair is one of the largest amusement park operators in the world, claims a news release announcing the sale

. The company is the owner of 13 properties, including the beloved California park Knott's Berry Farm

2019 saw Cedar Fair purchase the land beneath Great America from the city of Santa Clara for $150 million after previously leasing it

The fact that Cedar Fair's stock has increased 1.54 percent on Monday after having dropped roughly 40 percent over the prior five years may be instructive.

According to the press release, Cedar Fair President and CEO Richard A. 

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Zimmerman remarked, "The sale and lease agreements enable us to monetize a high-value asset in the heart of Silicon Valley at a very attractive multiple.

What the new owner, Prologis, intends to do has not been disclosed.


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