Palace Entertainment closes faucet at Raging Waters San Jose – Robert Khodadadian
Raging Waters San Jose will rage no more.
Raging Waters San Jose, with a 350,000-gallon wave pool and 14 water slides, was the largest water park in Northern California in terms of acreage. Palace Entertainment, a unit of Madrid-based Parques Reunidos, acquired it in 2002.
The news follows last year’s closure of Raging Waters Sacramento after the company ended its lease. Last month, a new company said it would take over the Sacramento location and renovate the site. Raging Waters’ only other California location is in Los Angeles.
“While I’m sad to see them go, I’m also excited to re-imagine what Lake Cunningham can be for our community,” Mahan said in a statement. “We’ve already heard from potential investors who are exploring new recreational uses and business models that might draw even greater interest from residents.”
Last year, San Francisco-based Prologis bought California’s Great America theme park in Santa Clara for $310 million. The seller, Ohio-based Cedar Fair will operate the 112-acre park until as late as 2033, when it will close for good.
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Raging Waters San Jose will rage no more. Palace Entertainment, the Pittsburgh-based owner of the 23-acre amusement park, has announced its closure after 38 years of splashy rides at 2333 South White Road, the San Jose Mercury News reported. Raging Waters opened in 1985 on city property at Lake Cunningham Regional Park in East San
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Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.