Cedar Fair Sells Land Under Great America-- "Winding Down Operations" Over 11 Years

[GAcoaster]

This is not unexpected with the park being so landlocked now and limited in its operations, but still a shock:
https://ir.cedarfair.com/news/news-details/2022/Cedar-Fair-Capitalizes-on-Opportunity-to-Sell-Its-Land-at-Californias-Great-America-Amusement-Park/default.aspx

[Yoshi]

When I was in California in 2016, we drove past the park but I decided against stopping in for a credit run as I was tired after 4 days of Disneyland and 1 day of Knott’s during a really bad heatwave. 
 

Hearing this news makes me slightly regret not going. I feel bad for the people in the area losing a park but at least they still have SFDK in the area.

[NKMM10893]

Railblazer will more than likely be relocated, but Gold Striker probably won’t be, and that’s a huge loss for the industry as one of GCI’s greatest creations.

[Medusa42]

Lease terms.

 

Quote

On June 27, 2022, and as a condition to the sale of the Park, the Company entered into a lease with Prologis pursuant to which Cedar Fair, L.P., through its subsidiaries will continue to operate the Park. The lease has a six-year term, and the Company has the option to extend the term for an additional five years. The lease is subject to a right in favor of Prologis to terminate the lease early by providing at least two years’ prior notice. The annual base rent under the lease is $12,247,500 and will increase by 2.5% each year.

https://d18rn0p25nwr6d.cloudfront.net/CIK-0000811532/78a5bf4c-e155-489d-b56b-5161d8809409.pdf

[29yrswithaGApass]

I wonder where the huge double-decker carousel will wind up?

[Daved Thomson]

So, in other words, the real length of the lease is actually six-years, with the land owner having the option to terminate that lease two-years after giving proper notice to Great America.  I'm not a real-estate person, but it's clear that Cedar-Fair sees more value in the land now than it does in continuing to operate the park over any period of time moving forward.  Just guessing, but to me, it doesn't sound as if the park operates in the black.  If it does, it's definitely not one of the company's cash cows, thus their reason to wind down operations and get as much out of it now as they possibly can.

[Daved Thomson]

4 minutes ago, 29yrswithaGApass said:

I wonder where the huge double-decker carousel will wind up?

Personally, I have always found the two Columbia carousels to be nostalgic icons.  While every major theme park acquired antique, used carousels when they were being built, Marriott had the iconic Columbia carousels built new, replicating the animals found on other carousels.  While all parks initially had iconic towers, wheels, mountains, balloons and, of course, castles, the Columbia carousels are very impressive features of the Great America parks.  If GA does not plan to replace the Big Wheel with a new or refurbished one, I could see Columbia looking nice in that spot.  I don't think it would fit aesthetically in front of the Yum Yum Palace.

[GAcoaster]

I assume Cedar Fair is already divvying up the salvageable equipment between their other parks, but I suspect most of it isn't worth relocating for anything but parts. 

 

The Columbia I could see going to another park though. Even though it is a "new" carousel compared to the classics most parks have, it will be over 50 years old when the park closes-- older than some of the PTC/Dentzel/etc. "classic" carousels were when they were installed in theme parks built in the 60's/70's.   

[Yoshi]

Their wild mouse is rumored to go to Cedar Point:

https://www.reddit.com/r/cedarpoint/comments/vp7ex1/psycho_mouse_relocation_from_cga_for_new_grand/