The owners of the land that’s home to California’s Great America amusement park in Santa Clara has been sold and the park will eventually close, according to Cedar Fair L.P., the sellers of the property.  

The parcel was sold for $310 million with a lease agreement, Cedar Fair announced on Monday. The park could remain open for as long as 11 more years, the company said, as part of a “wind-down” towards its eventual closure.  

The property’s buyer, Prologis, Inc., is a Bay Area real estate company. Prologis could not be immediately reached for comment.  

Cedar Fair said it began looking into “maximizing the value” of its existing properties in 2021 and the sale is part of that strategic plan. Cedar Fair purchased the land at California’s Great America in 2019 from the City of Santa Clara. The company owns and operates amusement and water parks throughout the lower 48 states, with revenues at more than $1.3 billion annually, according to their website.  

The sale is an attempt to bring down debt, according to the company.  

“Cedar Fair intends to use proceeds from the land sale transaction to accelerate progress on its strategic priorities of reducing debt to achieve its $2 billion target,” a spokesperson for the company said. This will involve upgrading other properties as well.  

Cedar Fair is based in Sandusky, Ohio. 

Katy St. Clair, Bay City News

Katy St. Clair got her start in journalism by working in the classifieds department at the East Bay Express during the height of alt weeklies, then sweet talked her way into becoming staff writer, submissions editor, and music editor. She has been a columnist in the East Bay Express, SF Weekly, and the San Francisco Examiner. Starting in 2015, she begrudgingly scaled the inverted pyramid at dailies such as the Vallejo Times-Herald, The Vacaville Reporter, and the Daily Republic. She has her own independent news site and blog that covers the delightfully dysfunctional town of Vallejo, California, where she also collaborates with the investigative team at Open Vallejo. A passionate advocate for people with developmental disabilities, she serves on both the Board of the Arc of Solano and the Arc of California. She lives in Vallejo.