Beloved Bay Area theme park to close permanently in near future
California’s Wonderful The usa, a Bay Space amusement park that has entertained family members for approximately 5 decades, will be closing its gates permanently in the near upcoming.
Cedar Reasonable, operator and operator of the park, declared on Monday that it has offered the land to Bay Location true estate developer Prologis for $310 million. The 112-acre property is nestled among Route 237 and Highway 101, specifically next doorway to Levi’s Stadium, and has its very own focused gentle-rail prevent. The offer stipulates that the park will shut someday inside the upcoming 11 many years, although the correct timing has not been declared.
The Santa Clara park, which opened in 1976 and presently characteristics about 50 sights, has been a generational mainstay for Bay Place inhabitants, which includes some popular types. Golden Point out Warriors star Steph Curry was not long ago noticed taking part in a three-level obstacle at the park just days following successful his fourth NBA championship.
According to a push release announcing the sale, Cedar Reasonable is 1 of the biggest amusement park operators in the entire world. The company owns 13 homes, like Knott’s Berry Farm, a different cherished California park. Cedar Fair acquired the land beneath Wonderful The united states from the metropolis of Santa Clara in 2019 for $150 million, acquiring leased it previously.
Potentially tellingly, Cedar Fair’s stock (NYSE: Entertaining) is down approximately 40% in the previous 5 yrs but jumped 1.54% on Monday.
FILE: The Patriot roller coaster can take riders by means of a 360-diploma loop at California’s Fantastic America amusement park in Santa Clara on March 31, 2017.
Anda Chu/Bay Space Information Team by means of Getty Visuals“The sale and lease agreements make it possible for us to monetize a substantial-price asset in the coronary heart of Silicon Valley at a pretty desirable numerous,” mentioned Cedar Truthful President and CEO Richard A. Zimmerman in the press release.
It was not announced what Prologis, the new owner, plans to do with the residence just after the rides have shuttered.