APEX PARK GROUP
Park News - (3/26/20) A reader sent in some new information about Indiana Beach after someone with a boat took a nice slow cruise past the park the other day. Apparently a small group was touring the park at the time, but impossible to say if this was a tour with a prospective new owner or just someone looking to buy some of the park’s rides or equipment. Either way, the report claims that many of the rides look to have seen some activity lately. Rides that were packed up for the winter have now removed their protective wrapping and are now set-up for operation.
Unfortunately, I can only imagine that the Coronavirus situation is only going to delay and complicate matters even more, but we can still hope for the best.
(3/19/20) The local White County Commissioners and Council both voted in favor of a resolution that would offer a $3 million incentive offer to potential buyers of the Indiana Beach amusement park. There are some obvious stipulations on the offer, including the most important one, that the buyer will operate Indiana Beach as an amusement park for a specific period of time, and I believe they would need to buy the park and the land it sits on.
This may be enough to sweeten the deal for any potential buyer, as the extra funds would go a long way towards reopening the park and any needed upkeep and repairs deemed necessary.
(3/18/20) From the sound of things, it seems like Indiana Beach may be having showings to potential buyers. A Screamscape source in the area has witnessed some new activity in the park over the past few days, including the Ferris Wheel running test cycles in the middle of the day, and even one of the “water features” in the park was seen running.
(3/13/20) Could there be a ray of hope yet for Indiana Beach? The park sent out an interesting email earlier today claiming that the announcement of the park’s closing has sparked new interest in the property and that they hope that a new suitable buyer may surface in time to reopen the park for the 2020 season. Anyone know more?
(3/2/20) Fans of Indiana Beach held a rally on Saturday with the hopes of saving their park. Unfortunately, according to an article by Orlando Weekly, any sale of Indiana Beach may be a little more complex than anticipated. I know I had not heard this before, but shortly after buying Indiana Beach Apex apparently sold the land the park sits on to “Store Master Funding” a real-estate investment group. I’m guessing this was part of a lease-back deal which we have seen elsewhere, where the real estate company pays Apex for the land, but leases it back to them to run the park that Apex still owns that sits on the land.
Now a future deal to sell the park isn’t impossible, it would just be more complex, as any new owner would have to buy the park and try to sign a new lease deal with Store Master Funding, or try to negotiate a second deal to buy the entire property as well as the park. This is assuming that Store Master Funding would be even willing to let the land go, as they may have other backup plans sitting ready to go to redevelop the property as something else entirely.
As for the park itself, a reader who attended the rally reported back to confirm that some smaller items, like the games we reported about, have been removed from the park, but as far as anyone knew none of the rides have been sold yet, though virtually all of them are apparently listed as being for sale.
(2/29/20) While many remain hopeful that Indiana Beach could find a new owner and be saved, I’m hearing that the park has already begun the process of liquidating smaller assets like arcade machines and games. Of course those are far easier to replace than the big rides, and we haven’t heard about any of those being removed just yet.
(2/22/20) While it was previously said the closure was a done deal, it looks like some potential buyers may be stepping forward to look into buying Indiana Beach, potentially saving the park from closure. While we don’t know who all may be looking at this time, there was some posting on social media from Fun Spot Orlando that they may be taking a serious look at the property.
(2/19/20) I’m very sad to report that according to several news reports Apex Parks has decided to close Indiana Beach for good. This move apparently comes after they were unsuccessful in finding a buyer to take over the unique park along the shore of Lake Shafer, and Apex Parks is now taking steps to try to redistribute or sell the park’s rides. This is especially sad as Indiana Beach finds itself closing after 94 years of operation.
According to this news article, Gregg Borman (SVP of Operations for Apex) told the local economic development director that Apex wasn’t in a position to continue to make capital improvements to the park and that Apex would be closing Indiana Beach and three others properties that they own across the country due to “financial reasons”.
Click here to read about the other closed Apex properties.
2020 - PARK CLOSED