SITE Centers agrees to sell The Pike Outlets ground lease for ~$50M

SITE Centers Corp.

Sale of ground leasehold interest in The Pike Outlets (Long Beach, CA) for approx. $50M cash.
Net proceeds estimated at ~$46M after pro-rations, credits and leasing adjustments.
Nonrefundable deposit of $1.5M posted by purchaser; closing expected by end of Q3 2026.
Closing subject to City of Long Beach consent, tenant estoppels, and other customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SITE Centers Corp. entered into Purchase Agreement with Pike Long Beach Owner LLC valued at aggregate price of approximately $50.0 million in cash (effective 2026-05-01).

Action: entry
Agreement: asset purchase
Counterparty: Pike Long Beach Owner LLC
Value: aggregate price of approximately $50.0 million in cash
Effective: 2026-05-01

Exact text from the filing

On May 14, 2026, the general due diligence period expired under the Purchase Agreement, dated as of May 1, 2026 (as amended, the “ Purchase Agreement ”), by and between a subsidiary (the “ Seller ”) of SITE Centers Corp. (the “ Company ”), and Pike Long Beach Owner LLC (the “ Purchaser ”).

View on SEC.gov

Browse all material agreements →

SITE Centers Corp. filing history →

Source: SEC EDGAR

accession 0001193125-26-232549

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.