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Mihama ferris wheel area under new ownership

Date Posted: 2007-09-28

Despite contract agreements that said they couldn’t, Carnival Park Mihama has sold a sizeable chunk of the Chatan Town property to Lisa Partners.
The giant ferris wheel has been the cornerstone and tourist magnet since Carnival Park Mihama was constructed in 1999. Almost always crowded with tourists gathering to listen to street musicians, and to shop, the area has been a bright spot in The American Village, Chatan’s nickname for Mihama.
The new owners are Lisa Partners, a Tokyo investment company specializing in business rehabilitation and real estate. The Chatan Town Office says the facility was actually sold almost a year ago, in November 2006, even though Carnival Park Mihama’s contract specified it couldn’t be sold for ten years after construction in 1999. The loophole, officials say, is that changing the property use designation permitted the sale.
Carnival Park Mihama that sits on reclaimed land originally purchased the lot from Chatan Town. Carnival Park Mihama’s President, Yoshinori Higashionna, confirms that Lisa Partners has the land, and that Carnival Park Mihama is paying rent to Lisa.

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