Clementon Lake Park SOLD In Auction
Clementon Lake Park, the historical amusement park in New Jersey was purchased at an auction today by Indiana Park Holdings LLC — the company which operates Indiana Beach Amusement Park in Indiana.
The auction, ran by Capital Recovery Group, took place online. The format of the auction was that if the individual purchases of each listing from the park eclipsed $2.3 million, each listing would be sold by the interested party. If the sum of the purchases fell short, then the park would be sold as one individual unit.
The sum of the sales of all the individual listings fell way short of the $2.3 million minimum. Hellcat, the 2004 four million dollar S&S wooden coaster only “sold” for $7,500. But, the sale didn’t go through since the sum of all units didn’t surpass 2.3 million.
The interested New Jersey group, Fresh Development LLC, had raised $3 million to buy the property, but due to a hold up with the wire transfer, they were forced to rescind their bid.
The entire park and property was then purchased at the auction for 2.37 million by Indiana Park Holdings LLC, the company which operates Indiana Beach Amusement Park in Indiana.
Clementon Park was founded in 1907, and then grew over the next several decades. The park was known for their coasters-Jack Rabbit and it’s successor Hellcat. The park eventually wound up in the ownership of Premier Parks LLC, before the park was quietly shut down at the end of the 2019 season.
Below is a look at the parks’ 52+ acres and 23 acres spring fed lake with a new dam.
When asked about the 114-year-old park, new owner Gene Staples of Indiana Park Holdings said:
“I love Americana and vintage amusement parks, We were successful in reviving Indiana Beach in 2020. This amazing opportunity for Clementon was brought to our attention in late February, and we were lucky enough to acquire it at auction. Our goal now is to use what we learned at Indiana Beach and bring that knowledge to relaunching Clementon Park”.
“Our focus will be to assess immediate needs, and in a very abbreviated timeframe”.
Clementon Lake Park & Splash World is the second park for Staples (Indiana Holding LLC), who purchased Indiana Beach Park in April of 2020.
Gene says his company is trying their best to have the Splash World portion of the park open by Memorial Day weekend 2021. They are currently working to bring the Clementon website and social media platforms back online as soon as possible.
We look forward to seeing the investment come to life in New Jersey. We are also hopeful the two projects going on at once don’t hold each other up with construction or funding.
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