Popular theme parks have begun disappearing from the landscape, as developers anticipate huge returns from converting massive amusement park parcels of land into lucrative real estate projects.
Cedar Fair sold its valuable California Great America property in the Silicon Valley to real estate developer Prologis in 2022, before it merged with Six Flags in 2024.
California Great America announced it will close its gates permanently at the end of the 2027 amusement park season.
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Andretti Thrill Park closes down
And now, another beloved family theme park, Andretti Thrill Park, which was co-founded by the late NASCAR driver John Andretti in 1999, has closed down permanently and will be redeveloped into an apartment complex with over 300 units, The Space Coast Rocket reported.
The Melbourne, Fla.-based race car-themed thrill park’s owner Eddie Hamann, who co-founded the theme park with Andretti, said economic issues were not the reason for closing the park, as it was performing well financially.
Co-Founder John Andretti passed away
Andretti passed away from colon cancer in 2020. John Andretti was the nephew of car-racing legend Mario Andretti.
“There was no issue with the city, no issue with the county. Sales were still strong. We never lost money here,” Hamann said, according to The Space Coast Rocket.
“It’s simply that the facility is 27 years old. It requires a lot of maintenance, and it was time to look at what the future holds,” Hamann said.
A high demand for housing in the Melbourne area prompted the decision to redevelop the aging 16.7-acre property into apartments for students at the Florida Institute of Technology and local workers, the thrill park owner said.
Andretti Thrill Park had become a popular entertainment venue for local families on the Space Coast, offering a variety of attractions, including 5 go-kart tracks, 18-hole miniature golf, laser tag arena, paddle boat rides, rock wall, Andretti 360 ride, drop tower, train ride, kiddie rides, and the Space Coast’s largest video arcade with 150 games, according to Trip Advisor.
The thrill park’s website and social media sites have already been disabled.
Another Andretti karting chain operates
Hamann is also a partner in another Andretti family venture, Andretti Indoor Karting & Games. The go-karting and arcade chain has 14 locations in 8 states, which are not affiliated with Andretti Thrill Park.
Fans of 7 Six Flags amusement parks will be relieved to know their favorite park destinations, however, will still be operating after the 2026 season ends.
EPR Properties buys Six Flags parks
EPR Properties purchased the parks for $342 million with plans to sign long-term leases with major theme park operators Enchanted Parks and La Ronde Operations Inc., the company announced on March 5.
“This strategic acquisition represents a compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets,” Gregory K. Silvers, chairman and chief executive officer of EPR Properties, said in a statement.
“These properties embody the essential characteristics we seek: delivering stable, long-term cash flows, strong drive-to accessibility, multi-generational appeal, and significant underlying land value” Silvers said.
“This transaction aligns with our disciplined investment criteria and accelerates our strategic expansion into experiential properties that create enduring value for our shareholders,” he said.
Six Flags Parks Sold to EPR Properties
- World of Fun, Kansas City, Mo., leased to Enchanted Parks.
- Valleyfair, Minneapolis, Minn., leased to Enchanted Parks.
- Six Flags St. Louis, Mo., leased to Enchanted Parks.
- Schlitterbahn Waterpark Galveston, Galveston, Texas, leased to Enchanted Parks.
- Michigan Adventure, Grand Rapids, Mich., leased to Enchanted Parks.
- Six Flags Great Escape, Queensbury, N.Y., leased to Enchanted Parks.
- Six Flags La Ronde, Queensbury, N.Y., leased to La Ronde Operations Inc.
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