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Colliers: Jacobs 'purchase agreement' for 30 Geauga Lake acres

4:02 PM, Nov 13, 2008   |    comments
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Colliers' managing director of land development services Cliff West said Jacobs plans a "retail development with big box stores, some restaurants and it's dependent upon a major department store coming in as an anchor."

West said department store representatives and the Westlake-based Jacobs are meeting within the next two weeks and "it could be decided very soon."

Colliers is marketing the former 550 acre-Geauga Lake property for owner Cedar Fair, of Sandusky.

West also said there is a purchase agreement for the 11 acres where the former Geauga Lake hotel is located but he was not at liberty to name the buyer.

West said the former hotel "will be a residential youth facility for children with problems and they will stay for periods of time. It is similar to Beech Brook (in Pepper Pike) and there will be 50 to 75 children."

West said that the two purchase agreements total "nearly $8 million" but he declined to say how much each agreement was.

As far as the rest of the 470 acres, West said that acreage is still for sale -- as a whole or in parcels -- and Cedar Fair is going through a "land-planning process with both Bainbridge and Aurora to see what best suits the property."

The park straddles bainbridge Township and the City of Aurora.

The amusement park side of Geauga Lake closed Sept. 21, 2007 and the land has been up for sale. The rides were auctioned off in June and only the historic Big Dipper roller coaster and the Itamin Skyscraper Tower remain intact.

The tower was sold for scrap and the Big Dipper was sold for $5,000 to Tom Woosnam of Akron-base Apex Western Machinery. 

WKYC-TV

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