The lease that allows California’s Great America amusement park to operate at its longtime location in Santa Clara could be terminated in just over three years, according to public records.

Prologis, a major real estate company, could end the lease held by its affiliate for the land beneath the iconic theme park by June 30, 2028, as per documents filed with the Santa Clara County Recorder’s Office on January 6. This could mean that the park might cease operations by mid-2028, a little more than three years from now.

In 2022, a Prologis affiliate purchased 112.6 acres at 1 Great America Parkway for $310 million, where the theme park has been located for decades. As part of the deal, Prologis agreed to lease the land back to Cedar Fair, the park’s owner and operator. In July 2024, Cedar Fair merged with Six Flags Entertainment, forming a new company under the Six Flags name, with the management team from Cedar Fair taking the lead.

Prologis and Cedar Fair finalized the updated lease agreement on December 31, as recorded in county documents.

Once the initial lease term expires in mid-2028, Cedar Fair will have the option to extend the lease for an additional five years.

Both Six Flags and Cedar Fair were significant players in the amusement and theme park industry before their merger, a position they continue to hold. However, the sector has been significantly impacted by the economic repercussions of the widespread shutdowns imposed to mitigate the effects of the COVID-19 pandemic.

A 2022 filing from Cedar Fair indicated that Prologis could potentially end the lease earlier than expected. The lease includes a provision allowing Prologis to terminate it early by providing at least two years’ notice, as stated in a Securities and Exchange Commission filing from June 2022. It remains unclear whether Prologis has or will soon issue this notice.

With its purchase of the Santa Clara property, Prologis has acquired land that offers a variety of development possibilities, including housing, advanced manufacturing, industrial sites, logistics and warehouse facilities, office spaces, retail, dining, and entertainment venues. The property is located on Great America Parkway, positioned between U.S. Highway 101 and Tasman Drive.