May 11, 2006
Houston, TX -- Six Flags in its most recent earnings release stated that it has found a buyer for the former Six Flags AstroWorld theme park property in Houston.
As reported by Six Flags, the company expects to earn $77 million from the sale of the 104-acre property, but the actual purchase price is confidential. Angel/McIver Interests of Conroe is under contract to purchase the property and the sale is expected to close in early June.
AstroWorld ended its 37-year run as a theme park last October. Declining attendance and a rise in real estate value were the two primary reasons that lead to the closure of the park and sale of the property, according to Six Flags.
Over the past several months Six Flags has removed the rides and structures from the property in preparation for the sale. Several of AstroWorld's former rides were relocated to other Six Flags parks.
The property now sits vacant awaiting its redevelopment.
What did you think? Be the first to Add Your Comments