Six Flags Elitch Gardens price: $170 million

Posted Monday, August 7, 2006 11:07 AM | Contributed by GregLeg

Six Flags Inc. will start marketing its Denver property for sale this week. The city wants the site to continue as an amusement park, but some see it as a mixed-use development. The owner of Denver's Six Flags Elitch Gardens amusement park is seeking $170 million for the 75-acre site, according to a real estate developer who has seen the offering.

Read more from The Denver Post.

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Monday, August 7, 2006 12:58 PM
Hmm thats a lot more then they sold SFWoA for... Interesting.
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Monday, August 7, 2006 12:58 PM
Wait a second... let me check my account balance...

Damn... can't quite make that.

Sigh... I guess it's back to RCT for me.

On a more serious note...

The article said...


Six Flags Inc., which operates 30 parks in North America, is saddled with more than $2 billion in debt and is considering selling Elitch Gardens and five other parks.


Refresh my memory please. What other five properties were named? Was the done deal at Wyandot Lake included as one of these five properties?*** This post was edited by SLFAKE 8/7/2006 1:02:40 PM ***

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Monday, August 7, 2006 1:58 PM
http://coasterbuzz.com/2006-173-798670.htm


The properties are: Six Flags Darien Lake (outside Buffalo, New York); Six Flags Waterworld (Concord, California); Six Flags Elitch Gardens (Denver, Colorado); Wild Waves and Enchanted Village (outside Seattle, Washington); Six Flags Splashtown (Houston, Texas); and Six Flags Magic Mountain and Hurricane Harbor (near Los Angeles, California).
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Monday, August 7, 2006 2:06 PM
That seems like an awful lot of money for that place!
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Monday, August 7, 2006 2:13 PM
Isn't this prime land in downtown Denver (on the edge)? I walked to a baseball game from the parking lot once. It seems that mixed use would make a lot of sense.
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Monday, August 7, 2006 2:15 PM
Like we didn't see this one coming.

I agree with Peabody, though -- seems like a lot of money for that park. Then again, I don't know what land goes for in the Denver area, maybe that *is* reasonable.

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Monday, August 7, 2006 3:00 PM
Yes, the price is higher, but don't they get all the rides with that price? There's got to be over $25mil worth of just coasters there.
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Monday, August 7, 2006 3:14 PM
I guess if the other park prices are in the same neighborhod, they'd be able to cut the debt in half.

From what mt buddy tells me, housing is overbuilt in the downtown area and people are losing money on real estate. I wonder if they'll be able to attract developers at that price?

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Monday, August 7, 2006 3:22 PM
The land could be considered prime real estate as far as Denver goes, it is right along the river, easy access to downtown, lodo, & the highway. The downside is that it is right next to railroad tracks that are very active & loud at all hours of the day.

Real estate here is very over priced, we blame all the californians for moving here and driving the prices up.

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Monday, August 7, 2006 4:04 PM
Unless I am wrong the land is a former Superfund sight so there is not much you can do with it.
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Monday, August 7, 2006 4:31 PM
170 million? What did they ask for Astroworld and what did they get? I wouldn't be shocked if they get 60 million.
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Monday, August 7, 2006 4:55 PM
Barry, it is not a former Superfund site, it used to be an unoccupied field.
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Monday, August 7, 2006 6:00 PM
"Mixed-use" has to be one of the most overused buzzwords of this decade.

But I guess it's easier to say than "$600,000 condos across the esplanade from very expensive restaurants and cafes that sell coffee for $8 a cup and another walkway where you could peer through the windows of exclusive shops and boutiques selling expensive trinkets that have no real function except to impress people with how wealthy you pretend to be."

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Monday, August 7, 2006 11:13 PM
Give it a month or so...when no one shows an interest they'll mark it down to $99,999,999.99 ;)
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Tuesday, August 8, 2006 12:55 AM

RGB said:
...very expensive restaurants and cafes that sell coffee for $8 a cup and another walkway where you could peer through the windows of exclusive shops and boutiques selling expensive trinkets that have no real function...

Isn't that what's already sitting on that land? ;)

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Tuesday, August 8, 2006 1:13 AM
Too the thing with Elitch Gardens going up for sale i know that i've heard rumors that Enchanted Village up here in Seattle has been sold now. But its like a silent deal and i guess its not all the way complete. But everyone has said another amusement park company has bought the park and i've heard rumors of cedar fair wanting to build a park up here so im wondering if they r buying the park from six flags.
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Tuesday, August 8, 2006 1:42 AM
^ not in their current financial situation. After the paramount buy, I don't think CF will consider buying much in terms of property for the next two or three years, they have enough park rebuilding to do right now.
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Tuesday, August 8, 2006 8:58 AM
I for one am totally shocked by this turn of events... ;)
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Tuesday, August 8, 2006 11:05 AM

Real estate here is very over priced, we blame all the californians for moving here and driving the prices up.

That's funny, we blame our extreme housing prices on all the folks from Colorado moving out here. ;)

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