Santa Clara theme park lease termination possible in three years
California’s Great America amusement park in Santa Clara may be facing the end of its lease in just over three years, according to public records. Prologis, a major real estate company, could terminate the lease for the land beneath the park as soon as June 30, 2028, documents filed recently revealed. This means that the park might have to cease operations by mid-2028.
In 2022, Prologis acquired the land where the park is located for $310 million and then leased it to Cedar Fair, the owner of the amusement park. In July 2024, Cedar Fair and Six Flags Entertainment completed a merger, with the new company retaining the Six Flags name. The lease agreement between Prologis and Cedar Fair was updated on Dec. 31, according to county records.
Once the initial lease term ends in mid-2028, the park operator may have the option to extend the lease for another five years. Despite the potential lease termination, Six Flags and Cedar Fair continue to be prominent players in the amusement park industry.
The park business faced challenging times due to the economic repercussions of the pandemic. A regulatory filing in 2022 suggested that the park might close sooner than expected, as Prologis had the right to terminate the lease with a two-year notice. The future development of the Santa Clara land is open to various possibilities, from housing to industrial sites and entertainment venues.
While the future of California’s Great America hangs in the balance, the potential changes on the horizon could pave the way for new developments in the area.
