SANDUSKY — Cedar Fair LP said Wednesday that it will spend $150 million to buy the 112 acres of land beneath its California’s Great America amusement park in Santa Clara, Calif.
Sandusky-based Cedar Fair, which owns 11 amusement parks including Cedar Point, has leased the park land from the city of Santa Clara since acquiring Great America in 2006 from Paramount Parks. The park, which originally was built and owned by Marriott Corp., has leased the land since it opened in 1976.
Cedar Fair CEO Richard A. Zimmerman said the land purchase “is a once in a generation opportunity to solidify our control of 112 acres in the heart of Santa Clara. The transaction underscores our long-term commitment to enhancing and expanding California’s Great America, ensuring a high-quality, family-friendly entertainment destination for those who live and work in Northern California.”
The sale is expected to close in the second quarter of 2019, subject to terms of Santa Clara’s redevelopment agency.
First Published March 27, 2019, 9:47 p.m.
