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  1. #1

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    Who owns Garden Walk?

    Last I heard it was up for fire-sale in January after a default and 2-year bank ownership. Who bought it. Disney should have jumped on it.

  2. #2

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    Re: Who owns Garden Walk?

    Offers were due 1/27/12 and nothing else was ever heard about it.....

    We know Disney owns the old Ampex office North of GW, don't know if they own the building immediately North of Pumba, I thought is part of the Ampex complex where Pumba is now.

    To the East, where Bergstrom's is - don't know who owns that......

    There just seems to be a lot of undeveloped land to the East of the DLR. Like the lot North of Katella where the Del Taco is...... what's there? Directly across the street to the South (East of Toy Story) are 2 large mobile home developments. Bing Maps doesn't show it, but Google Earth shows a strip of mobile home lots on the South of each park are empty - unusual?

    East of the 5 and West of the Big A is a strip between Katella and E. Gene Autry Way that is suspiciously vacant...... there are streets, but nothing on Bing/Google.....

    Does Disney own a lot more land within the Anaheim Resort District than we knew? Heck! Could a parking structure at Pumba be re-located to East of the 5 and what would one do with Toy Story/GW/Pumba if you didn't need Pumba for Parking?

    Thinking about it again..... after reviewing the latest OC Register article about $158M in tax breaks the City approved........ AND........ since we've heard nothing about the January sale since then........ I would speculate that Disney HAS bought Gardenwalk under a non-disclosure agreement....... because the "replacement cost" of Gardenwalk was $280M and the defaulted loan was $210M AND the tax breaks are worth $158M....... the actual purchase price is much closer to what Disney would pay, although they would have to shoulder the cost of building/managing the two hotels and potential DVC units for GW, the purchase is probably around $60M....... much less than they paid for the "Strawberry Fields"........
    Last edited by sdjeff4sc; 06-14-2012 at 04:56 PM. Reason: Reviewed OC Rgister

  3. #3

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    Re: Who owns Garden Walk?

    Quote Originally Posted by sdjeff4sc View Post
    Offers were due 1/27/12 and nothing else was ever heard about it.....

    We know Disney owns the old Ampex office North of GW, don't know if they own the building immediately North of Pumba, I thought is part of the Ampex complex where Pumba is now.

    To the East, where Bergstrom's is - don't know who owns that......

    There just seems to be a lot of undeveloped land to the East of the DLR. Like the lot North of Katella where the Del Taco is...... what's there? Directly across the street to the South (East of Toy Story) are 2 large mobile home developments. Bing Maps doesn't show it, but Google Earth shows a strip of mobile home lots on the South of each park are empty - unusual?

    East of the 5 and West of the Big A is a strip between Katella and E. Gene Autry Way that is suspiciously vacant...... there are streets, but nothing on Bing/Google.....

    Does Disney own a lot more land within the Anaheim Resort District than we knew? Heck! Could a parking structure at Pumba be re-located to East of the 5 and what would one do with Toy Story/GW/Pumba if you didn't need Pumba for Parking?

    Thinking about it again..... after reviewing the latest OC Register article about $158M in tax breaks the City approved........ AND........ since we've heard nothing about the January sale since then........ I would speculate that Disney HAS bought Gardenwalk under a non-disclosure agreement....... because the "replacement cost" of Gardenwalk was $280M and the defaulted loan was $210M AND the tax breaks are worth $158M....... the actual purchase price is much closer to what Disney would pay, although they would have to shoulder the cost of building/managing the two hotels and potential DVC units for GW, the purchase is probably around $60M....... much less than they paid for the "Strawberry Fields"........


    While I dont know the exact lands Disney owns other then the obvious, according to their most recent annual report (2011) they reported to own 461 acres in Anaheim with an additional 49 acres available to the company under long term lease agreements.

  4. #4

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    Re: Who owns Garden Walk?

    Disney owns/leases the old FlakeyJake's next to Del Taco, along with the surrounding parking lot. It was being used for bus and truck inspections at one point.

  5. #5

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    Re: Who owns Garden Walk?

    Quote Originally Posted by sdjeff4sc View Post
    Directly across the street to the South (East of Toy Story) are 2 large mobile home developments. Bing Maps doesn't show it, but Google Earth shows a strip of mobile home lots on the South of each park are empty - unusual?
    That's for the Gene Autry Way expansion I suppose:
    Overview | Gene Autry Way Project

  6. #6

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    Re: Who owns Garden Walk?

    Maybe it will become downtown Disney east

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    Re: Who owns Garden Walk?

    Quote Originally Posted by sdjeff4sc View Post
    Thinking about it again..... after reviewing the latest OC Register article about $158M in tax breaks the City approved........ AND........ since we've heard nothing about the January sale since then........ I would speculate that Disney HAS bought Gardenwalk under a non-disclosure agreement....... because the "replacement cost" of Gardenwalk was $280M and the defaulted loan was $210M AND the tax breaks are worth $158M....... the actual purchase price is much closer to what Disney would pay, although they would have to shoulder the cost of building/managing the two hotels and potential DVC units for GW, the purchase is probably around $60M....... much less than they paid for the "Strawberry Fields"........
    The bolded is my speculation that I mentioned last week as well. I guess it's possible Citybank and Disney worked something out and Disney may have paid for the option to buy it at some point.

    Citibank took over the property. There were no public bids. Citibank likely wouldn't want to own the property recieving rent when it's so far in the hole on it due to the defualted loans. It appears at the least that it's still in Citybank's name and hasn't been transfered to a new owner.

    March auction put on hold. Estimated price 196M
    Troubled GardenWalk mall auction postponed - Around Disney : The Orange County Register

    April Auction with no bidders, opening bid offered at 70M, estimated value 194M.
    No bidders step forward for GardenWalk mall | mall, gardenwalk, opened - News - The Orange County Register

    Who owns it now and what is the ownership situation is a good question.

  8. #8

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    Re: Who owns Garden Walk?

    Disney should buy it, if they are planning to build a third park south of Katella. Then they would pretty much own the corridor connecting the 3 parks and could build a transportation system to connect all 3 and all Disney hotels. And they should buy the Del Taco to bring up the average food quality of the resort.

  9. #9

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    Re: Who owns Garden Walk?

    Gene Autry Way is going to have a nice big gap trying to go straight to Convention Way. There is a future theme park site in the way. Maybe they can tunnel under the park and call it the Gene Autry Utilidor?

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    Re: Who owns Garden Walk?

    Quote Originally Posted by TreoFred View Post
    That's for the Gene Autry Way expansion I suppose:
    Overview | Gene Autry Way Project
    Excellent Post! Thank you for clearing that up. But, would the expansion require ALL the land sitting there or would there be room for a parking structure or an employees parking lot?

  11. #11

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    Re: Who owns Garden Walk?

    Quote Originally Posted by Bob Weaver View Post
    Disney should buy it, if they are planning to build a third park south of Katella. Then they would pretty much own the corridor connecting the 3 parks and could build a transportation system to connect all 3 and all Disney hotels. And they should buy the Del Taco to bring up the average food quality of the resort.
    Del Taco is where I typically eat when visiting, its cheap and not all that bad.

  12. #12

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    Re: Who owns Garden Walk?

    Quote Originally Posted by jaybee View Post
    Gene Autry Way is going to have a nice big gap trying to go straight to Convention Way. There is a future theme park site in the way. Maybe they can tunnel under the park and call it the Gene Autry Utilidor?
    Quote Originally Posted by sdjeff4sc View Post
    Excellent Post! Thank you for clearing that up. But, would the expansion require ALL the land sitting there or would there be room for a parking structure or an employees parking lot?
    seems odd but the current Gene Autry Way project does not reach Harbor it stops at Haster St. east of the parking lot

  13. #13

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    Re: Who owns Garden Walk?

    Quote Originally Posted by gary94080 View Post
    seems odd but the current Gene Autry Way project does not reach Harbor it stops at Haster St. east of the parking lot
    Pumba lot that is a couple short blocks west of Hester(Anaheim) has direct from the carpool lane traffic to it, but not away. Gene Autry would have carpool lane traffic direct to and from it, so Hester could become the way back onto I-5 for many cars.

    It's still a weird connector to the ACC, which doesn't attract a lot of HOVs like DL or the sports venues. Also the vast majority of ACC visitors are not locals, they are staying in the hotels on Harbor they aren't using the freeway in bulk.
    Last edited by swampymarsh; 06-15-2012 at 12:22 AM.

  14. #14

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    Re: Who owns Garden Walk?

    They have a lot of work to do on that corridor before a third gate premiers if they HAVE bought it... it seems a little awkward of a resort setup.

    -All the 3 Disney hotels would be on the opposite side of the resort from the Third Gate - they'd have to build a new hotel for conveniences sake.

    - It's just really spread out in general for the majority of the guests who traverse the entire resort as pedestrians.

    These are both fixable problems, but they would need to be solved before a Third Gate would be opened.
    "And after a long time or a short time, Ivan and the Wolf came at last to the home of the Firebird..."

  15. #15

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    Re: Who owns Garden Walk?

    Quote Originally Posted by BuzzedLightyear View Post
    Last I heard it was up for fire-sale in January after a default and 2-year bank ownership. Who bought it. Disney should have jumped on it.
    They would have jumped on it if the price was right.

    Evidently, the price was not right.
    "Here You Leave the World of California Today and Enter the World of, um, er, California Today."

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