SITE Centers sells The Pike Outlets for $50M

SITE Centers Corp. completed the sale of its ground leasehold and other interests in The Pike Outlets in Long Beach, California to Pike Long Beach Owner LLC for $50.0 million in cash.

Rhea-AI Filing Summary

SITE Centers Corp. completed the sale of its ground leasehold and other interests in The Pike Outlets in Long Beach, California to Pike Long Beach Owner LLC for $50.0 million in cash.

The transaction closed on June 30, 2026, generating approximately $46.5 million in net proceeds for a SITE Centers subsidiary under a Purchase Agreement dated May 1, 2026.

8-K Event Classification

Item 2.01 — Completion of Acquisition or Disposition of Assets

1 item

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Key Figures

Sale price: $50.0 million Net proceeds: $46.5 million Closing date: June 30, 2026 +1 more

4 metrics

Sale price $50.0 million Cash consideration for The Pike Outlets

Net proceeds $46.5 million Net proceeds received at closing

Closing date June 30, 2026 Completion of sale of The Pike Outlets

Purchase Agreement date May 1, 2026 Date of Purchase Agreement between Seller and Purchaser

Key Terms

ground leasehold interest, Purchase Agreement, Completion of Acquisition or Disposition of Assets

3 terms

ground leasehold interest financial

"completed the sale of its ground leasehold interest and all of its other interests in The Pike Outlets"

A ground leasehold interest is the long-term right to use and control a piece of land under a lease, typically allowing the lessee to build or operate improvements on that land for the lease term while paying rent to the landowner. Investors care because this interest behaves like owning a property without owning the underlying land — it affects income, resale value, borrowing ability and the risk that improvements revert or rent terms change when the lease ends, similar to holding a long-term rental contract on land rather than freehold ownership.

Purchase Agreement financial

"pursuant to a Purchase Agreement, dated as of May 1, 2026, by and between the Seller and Purchaser"

A purchase agreement is a legally binding contract that spells out exactly what is being bought, for how much, and under what conditions, including timelines, seller and buyer promises, and protections if things go wrong. For investors it matters because the agreement fixes the deal’s price, risks and closing conditions—like a detailed receipt and return policy for a large transaction—so it helps determine whether the deal will complete and how it will affect the company’s value and cash flow.

Completion of Acquisition or Disposition of Assets regulatory

"Item 2.01 Completion of Acquisition or Disposition of Assets."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What asset did SITE Centers Corp. (SITC) sell in this 8-K?

SITE Centers sold its ground leasehold interest and all other interests in The Pike Outlets in Long Beach, California. The buyer was Pike Long Beach Owner LLC under a Purchase Agreement dated May 1, 2026.

How much did SITE Centers (SITC) receive for The Pike Outlets sale?

The asset was sold for a purchase price of $50.0 million in cash. After customary adjustments and transaction costs, SITE Centers’ subsidiary received approximately $46.5 million in net proceeds at closing.

When did SITE Centers (SITC) close the sale of The Pike Outlets?

The sale of The Pike Outlets closed on June 30, 2026. This closing followed a Purchase Agreement between a SITE Centers subsidiary and Pike Long Beach Owner LLC dated May 1, 2026.

Who purchased The Pike Outlets from SITE Centers (SITC)?

The Pike Outlets was purchased by Pike Long Beach Owner LLC. The buyer acquired the ground leasehold interest and all other interests held by a SITE Centers subsidiary under the negotiated Purchase Agreement.

What is disclosed about SITE Centers’ net proceeds from this transaction?

SITE Centers’ subsidiary received approximately $46.5 million in net proceeds at closing. This reflects the $50.0 million cash purchase price adjusted for transaction-related items, as disclosed in the completion of acquisition or disposition of assets section.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/01/2026 - 04:05 PM Learn about SEC filing dates

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2026

SITE Centers Corp.

(Exact name of Registrant as Specified in Its Charter)

Ohio			1-11690	34-1723097
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3300 Enterprise Parkway
Beachwood, Ohio				44122
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (216) 755-5500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, Par Value $0.10 Per Share		SITC		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.01 Completion of Acquisition or Disposition of Assets.

On June 30, 2026, a subsidiary (the “Seller”) of SITE Centers Corp. completed the sale of its ground leasehold interest and all of its other interests in The Pike Outlets (Long Beach, California) to Pike Long Beach Owner LLC (“Purchaser”) for a price of $50.0 million in cash pursuant to a Purchase Agreement, dated as of May 1, 2026, by and between the Seller and Purchaser. Net proceeds received at closing were approximately $46.5 million.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			SITE Centers Corp.
Date:	July 1, 2026	By:	/s/ Aaron M. Kitlowski
			Name: Aaron M. Kitlowski Title: Executive Vice President, General Counsel and Secretary

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