July 2, 2025 Breaking News, Latest News, and Videos

Pacific Park Officially Sold for $34mil:

CNL Lifestyle Properties Inc., a real estate investment trust (REIT) focused on lifestyle properties, has acquired Pacific Park amusement park from Santa Monica Amusements LLC for $34 million. The amusement park, located on the historic Santa Monica Pier in southern California, will continue to be operated by Santa Monica Amusements under a net-lease agreement.

Pacific Park is a two-acre amusement park on the Santa Monica pier that offers family-style entertainment with 12 rides, 18 midway games, as well as multiple attractions, an oceanfront food plaza, entertainment, and specialty shops.

“Pacific Park matches our strategy of owning properties that are located in or near large population centers,” said Byron Carlock, president and CEO of CNL Lifestyle Properties, in a statement. “This is an iconic property in a city with significant character; we are very pleased to have it in our portfolio.”

The Park is a unique property located on a nationally known historic Pier and attracts more than 4 million visitors annually. CNL Lifestyle Properties also owns three marinas, three ski resorts, two resort village properties, one family entertainment center, one water park, and six golf courses in California. The acquisition of Pacific Park boosts the company’s amusement park portfolio to 22 nationally.

CNL Lifestyle Properties owns the ground lease and physical assets of Pacific Park. The Park will be leased by tenant Santa Monica Amusements and will continue to be run by CEO and General Manager Mary Ann Powell. Powell has been managing Pacific Park for 13 years and will continue to be responsible for all operations as well as the development and execution of the park’s long-term plans.

“We are excited about the partnership with CNL Lifestyle Properties, which allows us to continue to develop the vision of the Park,” Powell said. “Our goal and objective as the management team is to continue to maintain the Park’s stellar safety record and continually improve operations while enhancing the guest’s experience.”

For park visitors, employees and the Santa Monica community, the operations of the Park will not be impacted by this transaction.

Report from CNL Properties Release

in News
<>Related Posts

People are Using Palisades for “Disaster Tours.” Local Officials Are Trying to Stop Them

July 1, 2025

July 1, 2025

A new motion introduced to City Council requests a coordinated strategy from LADOT, the Los Angeles Police Department, and the...

Santa Monica Favorite Esters Rebrands as Esters Wine Shop & Oyster Bar

June 30, 2025

June 30, 2025

New Concept Launches With French-Spanish Flair and Free Bubbles Esters Wine Shop, the fave Parisian-style wine bar in downtown Santa...

Letter to the Editor: Santa Monica’s Great Park: It’s Time to Deliver on 100 Years of Promise

June 30, 2025

June 30, 2025

Santa Monica stands at the edge of history. For nearly a century, residents have consistently supported turning the airport land...

Why Nordstrom Says It’s Closing Its Santa Monica Place Location

June 30, 2025

June 30, 2025

A Nordstrom spokesperson explained the closure as a strategic realignment Nordstrom confirmed its decision to close its Santa Monica store...

Three-Bed Palisades Highlands Townhouse Hits Market for $1.7M

June 30, 2025

June 30, 2025

The Mediterranean-style property, located at 1529 Michael Lane, is part of a 71-unit community A remodeled 1,919-square-foot townhouse in the...

Six-Bed Mar Vista Hilltop Home Under Construction Lists for $5.3M

June 30, 2025

June 30, 2025

The private backyard is complete with a pool, spa, fire pit, built-in BBQ, and areas for outdoor dining A stunning...

(Video) Getty Villa Reopens Six Months After Dodging Destruction of Palisades Wildfires

June 29, 2025

June 29, 2025

With the reopening also comes a new exhibit, “The Kingdom of Pylos” Getty Villa Reopens Six Months After Dodging Destruction...

Free Virtual Planetarium Shows Coming to SMC in July

June 29, 2025

June 29, 2025

The virtual format is in place as construction of the new SMC Planetarium and Observatory nears completion The Santa Monica...

Santa Monica Adopts $793.3M Budget for FY25-27, Prioritizing Housing and Safety

June 29, 2025

June 29, 2025

The budget preserves core services and invests in major projects, including over $1 billion in hotel investments The Santa Monica...

Iranian Pastor in West L.A. Speaks as Church Rocked by Immigration Raids 

June 28, 2025

June 28, 2025

Five Detained as Fear Spreads Through Persian Christian Faith Community  Fear has spread through a West Los Angeles congregation after...

California Doubles Down on Hollywood: $750M in Tax Credits Approved for Film and TV Industry

June 28, 2025

June 28, 2025

State Lawmakers Back Major Expansion of Production Incentives, Raising Job Projections Los Angeles’ film and television industry is poised to...

Park: “Our Water Infrastructure Must Be Emergency-Ready Every Day”

June 28, 2025

June 28, 2025

Councilwoman expressed cautious relief at the news but emphasized the need for robust infrastructure The Los Angeles Department of Water...

Washington Square Pizza Opens to the Public

June 28, 2025

June 28, 2025

New York Style Pizza “By-The-Slice” Now at the Beach By Nick Antonicello  Washington Square Pizza formally opened its doors today...

California Allocates $5B for Road Repairs, Transit Expansion

June 28, 2025

June 28, 2025

The funding aims to improve road safety, reduce traffic congestion, and promote cleaner transportation California is investing nearly $5 billion...

THIS SUNDAY: Palisades Symphony Presents “Best of Broadway”

June 28, 2025

June 28, 2025

The performance will feature a full orchestra playing iconic selections, from John Philip Sousa’s *El Capitan* and George Gershwin’s *The...