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-   -   Great America set to close within 11 years (https://www.flyertalk.com/forum/san-francisco/2085312-great-america-set-close-within-11-years.html)

ntamayo Jul 1, 2022 5:32 pm

Great America set to close within 11 years
 
Sad news about GA - I fondly remember when it first opened as "Marriott's Great America." We locals still refer to it every now and then as "Marry-Otts."
https://www.mercurynews.com/2022/06/...state-develop/

Prologis, acting through an affiliate, paid $310 million for the land at 1 Great America Parkway, the county property records show.

California’s Great America LLC, an affiliate of amusement park operator Cedar Fair, sold the property, according to the public documents.

San Francisco-based Prologis also agreed to lease back to Cedar Fair the just-purchased chunk of land.

The term of the lease is six years, according to a Cedar Fair regulatory filing this week. Cedar Fair has the right to extend the lease for as much as five years, which means the amusement park would close no later than 11 years from now.

gaobest Jul 1, 2022 7:00 pm

It’s a heart breaker. I went in June 2022 and loved it. Fast lane helps. It’s not cheap.

dhuey Jul 2, 2022 6:06 pm

That land is probably way too valuable now for an amusement park.

DELee Jul 3, 2022 10:08 am


Originally Posted by dhuey (Post 34391214)
That land is probably way too valuable now for an amusement park.

Depends on what type of amusement park...

David

ntamayo Jul 3, 2022 2:23 pm

The developer would be hard pressed to build exclusively office space here, not with the double vacancy rate in the Santa Clara compared to rest of the county.

Makes more sense at this point to phase in mixed-use development (retail, dining, residential).

Eastbay1K Jul 3, 2022 2:46 pm


Originally Posted by ntamayo (Post 34393367)
The developer would be hard pressed to build exclusively office space here, not with the double vacancy rate in the Santa Clara compared to rest of the county.

Makes more sense at this point to phase in mixed-use development (retail, dining, residential).

The tea leaves for what the area will need a decade out are ... well, tea leaves.

dhuey Jul 4, 2022 11:31 am


Originally Posted by Eastbay1K (Post 34393419)
The tea leaves for what the area will need a decade out are ... well, tea leaves.

I remember how back in 2009, nearly every office building on the south side of Hwy. 237 had a big "For Lease" sign on it. Seems like a feast or famine sort of place.

Eastbay1K Jul 4, 2022 2:37 pm

Meanwhile, Great America is selling tix on Goldstar, so it is hardly like getting into the SFO Centurion Lounge during a peak flight bank.

gaobest Jul 6, 2022 11:32 am

Thankfully 6 flags in Vallejo area is still open and looking great. Oh those coasters… definitely need the dramamine :-)

GUWonder Jul 6, 2022 3:26 pm


Originally Posted by dhuey (Post 34391214)
That land is probably way too valuable now for an amusement park.

Seems to me like the plan would have been to build a lot of residential and mixed-use buildings to try to unlock the value of the real estate via redevelopment and sales. It’s not like they are buying the land to make this agriculturally productive.

Eastbay1K Jul 6, 2022 3:53 pm


Originally Posted by GUWonder (Post 34402658)
Seems to me like the plan would have been to build a lot of residential and mixed-use buildings to try to unlock the value of the real estate via redevelopment and sales. It’s not like they are buying the land to make this agriculturally productive.

No, although at the price of cherries, the crop would be temporarily more valuable than commercial real estate. And once up on a time (in my adult lifetime), this area was well-known for outstanding cherries. Now, they seem to grow a lot more Meta Apples.

Zorak Jul 7, 2022 7:42 pm


Originally Posted by Eastbay1K (Post 34402730)
No, although at the price of cherries, the crop would be temporarily more valuable than commercial real estate. And once up on a time (in my adult lifetime), this area was well-known for outstanding cherries. Now, they seem to grow a lot more Meta Apples.

... there's a Bing joke in here somewhere...

DELee Jul 9, 2022 12:20 am


Originally Posted by Zorak (Post 34406165)
... there's a Bing joke in here somewhere...

Let me Google that...

David

Zorak Jul 9, 2022 12:28 am


Originally Posted by DELee (Post 34409500)
Let me Google that...

Thanks, Jeeves!

Eastbay1K Jul 9, 2022 2:16 pm


Originally Posted by Zorak (Post 34406165)
... there's a Bing joke in here somewhere...

No jokes here, because I don't want to Rainier on your parade.


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