California’s Great America in Santa Clara now has an expiration date.
Park operator Cedar Fair announced on Monday that it had sold the land and would eventually close the park.
The company sold the country for about $ 310 million to the San Francisco-based company Prologis.
They also said they have signed an agreement with the buyer to continue operating the park for “up to 11 years” before finally closing it at the end of their current lease.
In a statement, they said the park should continue to look and feel the same way for visitors – at least in the short term.
Visitors to the park on Monday were shocked to hear the news. Several employees in the park said that they received the news of the sale also on Monday.
“It̵[ads1]7;s a bit of a bummer you know, because we have kids here who like this kind of thing, so closing it is not good unless you open another park better or bigger somewhere else,” said Jaime Gonzalez of Hayward. Gonzalez took his children to the park on Monday to ride the roller coaster. He said that Great America is a favorite place for the family to visit when school is out in the summer.
“I think it’s rough,” said Anthony Carranza, who drove out of Santa Rosa to enjoy the rides. “I’ve been coming to this park since I was seven, so many memories with my family. This is the first time I’m just coming with friends, so we’re making new memories today, so definitely a lot of nostalgia.”
Cedar Fair bought the land in 2019 from the city of Santa Clara. Before that time, Cedar Fair said it had been renting the land from the city for more than forty years. A Cedar Fair official noted in an email that this new agreement allows them to continue operating “one of the most popular entertainment destinations in California” by renting back the property over a period of years.
Cedar Fair’s CEO and President Richard Zimmerman said in a statement that the company was trying to retain Bay Area ties in this sale: “We chose Prologis as our partner because of their deep ties in the Bay Area and their reputation for working closely with communities. on major developments. ”
“For our investors, the sale and lease agreements allow us to monetize a valuable asset in the heart of Silicon Valley to a very attractive multiple,” Zimmerman continued.
The NBC Bay Area also contacted Prologis, a representative said they currently have no specific plans for future use of the land when the park closes.
“As we look past the expiration of the lease, we look forward to working with local authorities on a long-term plan, which we will do through collaborative discussions with the city and community,” a Prologis representative said in an email.
They want more years, and so will park fans, to find out.
The city of Santa Clara said it had just been informed of the news of this sale.
“On the surface, it looks like California’s Great America will not change in the short term,” Santa Clara Mayor Lisa M. Gillmor said in a statement. “My hope and goal is to keep California’s Great America there for as long as possible in the long run.”
California’s Great America has been in Santa Clara since 1976.