Potential shutdown of Six Flags' nearly half-century-old California amusement park, attributed to financial struggles.
Six Flags California's Great America, a beloved amusement park in Santa Clara, is set to close its doors in October 2027. The decision comes after the park's lease, which is currently held by real estate firm Prologis, ends in June 2028.
The park, which opened nearly five decades ago in 1976 under the name Marriott's Great Adventure, has had a tumultuous history of ownership changes. It was purchased by Six Flags in 2024, following stints under Cedar Fair Entertainment Co., Paramount, and Marriott.
The park's financial performance has been a significant factor in its closure. Six Flags Chief Financial Officer, Brian Witherow, stated that the California and Maryland parks are "very low on the ranking of margins," indicating poor financial performance compared to other Six Flags parks.
In 2019, Cedar Fair Entertainment Co. purchased the 112-acre land beneath the park for approximately $150 million. However, in 2022, Cedar Fair sold the land to Prologis for around $310 million, with a lease agreement in place.
Six Flags has been working with stakeholders and engaging the community regarding the closure of Six Flags California's Great America. The company's CEO, Richard Zimmerman, stated that marketing the property for redevelopment would generate the highest value and return on investment.
As for the future of the site, Prologis is working with design and planning experts to develop a master plan. The details of this plan are yet to be revealed, but the company is collaborating with city planners and the community to ensure a suitable development for the property.
Meanwhile, Six Flags is also closing down its Maryland park, Six Flags America, and Hurricane Harbor in Bowie, Maryland, as they no longer fit the company's long-term growth plan. This move is part of Six Flags' broader strategic review of its park portfolio.
The closure of Six Flags California's Great America marks a sad end to an era for many locals and visitors who have enjoyed the park's rides and attractions over the years. The park's final season is expected to be in 2027, unless Six Flags decides to extend the lease beyond 2027.
- The decision to close Six Flags California's Great America in 2027 is backed by its poor financial performance, as indicated by Six Flags' Chief Financial Officer, Brian Witherow.
- In an effort to generate the highest value and return on investment, Six Flags is marketing the property for redevelopment following the closure of Six Flags California's Great America.
- Prologis, the new owner of the 112-acre land beneath Six Flags California's Great America, is collaborating with design and planning experts to develop a master plan for the property.
- Six Flags' strategic review of its park portfolio has led to the closure of not only Six Flags California's Great America but also Six Flags America and Hurricane Harbor in Bowie, Maryland.
- The closure of Six Flags California's Great America and the possible redevelopment of the site demonstrate the interconnectedness of the real estate, finance, and business industries, as well as their impact on the local economy.
