SITE Centers
SITE Centers Corp. is a publicly traded REIT (NYSE: SITC) that owns and manages open-air shopping centers in high-income U.S. suburban submarkets, leasing space to national, regional, and grocery-anchored retail tenants while actively divesting assets post the 2023 Curbline spin-off.
- Company typePublic
- Founded2017
- HeadquartersBeachwood, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What SITE Centers does
SITE Centers Corp. is a publicly traded, self-administered and self-managed real estate investment trust (NYSE: SITC) headquartered in Beachwood, Ohio (with corporate references to Cleveland). The company owns and manages open-air shopping centers concentrated in the highest-income suburban submarkets of major U.S. metropolitan statistical areas, including signature assets such as The Pike Outlets. Its tenant base is composed of national and regional retail chains, with grocery-anchored centers representing a core component serving as last-mile convenience hubs for essential goods and services.
The business model generates revenue primarily through property rental income (recurring, subscription-like lease payments) augmented by transaction-driven gains from property dispositions. SITE Centers does not employ proprietary technology beyond its standard open-air retail real estate management platform; there is no disclosed AI/ML capability, app, or API offering. Customer acquisition is direct enterprise leasing to large retailers, with no consumer-facing product surface.
Following the October 2023 spin-off of its strip mall business into Curbline Properties, SITE Centers has executed a sustained capital recycling program, completing $3.7 billion in asset sales through late 2025 and marketing the remainder of its wholly owned portfolio for sale. The company has fully repaid its consolidated mortgage facility with Atlas SP Partners and Athene Annuity and Life Company (approximately $84.1 million) and declared $6.75 per share in total dividends including a $1.00 per share special cash distribution. Operationally, the firm continues to manage its residual portfolio while pursuing individual property sales across the Southeast, Midwest, West, and Mid-Atlantic regions.
SITE Centers firmographics
Firmographics- Name
- SITE Centers
- Legal name
- SITE Centers Corp.
- Website
- https://sitecenters.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- SITE Centers Corp. is a publicly traded REIT (NYSE: SITC) that owns and manages open-air shopping centers in high-income U.S. suburban submarkets, leasing space to national, regional, and grocery-anchored retail tenants while actively divesting assets post the 2023 Curbline spin-off.
- Ownership category
- akta.pro rank
SITE Centers industry classification
Industry- Product category
- Retail REIT
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Real Estate Investment Trusts (6798), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)
Keywords
Where SITE Centers is headquartered
LocationHeadquarters
- HQ city
- Beachwood
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
SITE Centers business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Infrastructure, Others
Revenue model
- Property Rental Income: SITE Centers generates revenue through rental income from tenants occupying its open-air shopping centers across the United States. The REIT owns and manages retail properties leased to national and regional retail chains and grocery-anchored tenants.
- Property Disposition/Capital Recycling: The company sells properties as part of its ongoing portfolio management and capital recycling strategy. Has completed $3.7 billion in asset sales since October 2023, using proceeds for debt repayment and shareholder distributions.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
SITE Centers product offering
Product offeringCore offering
SITE Centers is a self-administered and self-managed real estate investment trust (REIT) that owns and operates open-air shopping centers across the United States. The company generates revenue primarily through rental income from national, regional, and grocery-anchored retail tenants at properties located in high-income suburban communities within major metropolitan statistical areas. Following the October 2023 spin-off of Curbline Properties, the company is executing a strategic asset disposition program, having completed approximately $3.7 billion in asset sales.
Product overview
SITE Centers is a self-administered and self-managed REIT (Real Estate Investment Trust) that owns and manages open-air shopping centers across the United States. The company's portfolio is focused on retail properties located in high-income suburban communities within major metropolitan statistical areas (MSAs). SITE Centers' core product offering consists of open-air retail properties that serve as convenient access points for consumers and essential hubs for retailers. The portfolio is anchored by properties such as The Pike Outlets, with properties located across multiple states including North Carolina, Colorado, Georgia, Illinois, Virginia, and Chicago. The company's business strategy involves portfolio management, capital recycling through property dispositions, and optimizing holdings in suburban markets with above-average household incomes.
Differentiator
Problem solved
Functional benefit
Products and services
- Open-Air Shopping Centers
Companies that use SITE Centers
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles1 record
SITE Centers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
SITE Centers partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Curbline PropertiesflagshipCurbline Properties was spun off from SITE Centers in October 2023 as a separate entity. Following the spin-off, SITE Centers has been marketing its remaining wholly owned retail real estate assets for sale, representing a strategic separation of the two companies' portfolios.
Scale indicators10 records
Recent moves16 records
Expansion highlights2 records
SITE Centers competitors and assessment
Company assessmentBroad incumbents
- Tanger Inc. Tanger is a publicly traded REIT specializing in open-air outlet and shopping centers. Comparable in open-air retail format and tenant base, though focused specifically on outlet centers rather than grocery-anchored centers.
Direct peers
- Brixmor Property Group: Brixmor is an open-air shopping center REIT with a large national portfolio of grocery-anchored and community centers. Comparable in property type, anchor tenant mix, and capital recycling activity.
- Urban Edge Properties: Urban Edge Properties owns shopping centers primarily in the New York metro area, many of them grocery-anchored. Comparable in property type and open-air format, with partial geographic overlap.
- Federal Realty Investment Trust: Federal Realty owns open-air and mixed-use shopping centers in affluent U.S. suburban markets. Comparable to SITE Centers in high-income demographic focus, property type, and long-term hold strategy.
- Kimco Realty: Kimco Realty is a publicly traded open-air shopping center REIT with a national portfolio of grocery-anchored properties. Directly comparable to SITE Centers in tenant base, property type, and tenant concentration on essential retail.
- Kite Realty Group: Kite Realty Group is a shopping center REIT operating open-air properties predominantly in high-growth Sun Belt markets. Comparable in property type and grocery-anchored tenant strategy, with overlap in suburban target geographies.
- Phillips Edison & Company: Phillips Edison owns neighborhood and grocery-anchored shopping centers, with a focus on necessity-based retail. Comparable in property type, tenant mix, and open-air format targeting suburban consumer demand.
- Regency Centers: Regency Centers is an open-air shopping center REIT focused on grocery-anchored centers in affluent suburban trade areas. Highly comparable to SITE Centers in property type, tenant strategy, and demographic targeting.
Others
- Equity One (now part of Regency): Equity One merged with Regency Centers in 2017; previously an open-air shopping center REIT with comparable portfolio composition and tenant strategy. Useful historical benchmark for SITE Centers' market positioning.
Emerging players
- Curbline Properties: Curbline Properties was spun off from SITE Centers in October 2023 as a separate REIT focused on convenience-oriented properties. Highly comparable by heritage and shared property DNA, though it operates as an independent entity with a different strategic mandate.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat2 records
Key risks5 records
Key highlights6 records
Customer concentration
SITE Centers social profiles
Digital presenceSITE Centers financial estimates
Financial estimateRevenue estimate
Valuation estimate
SITE Centers leadership team
Management profileNumber of profiles
Profiles6 records
SITE Centers subsidiaries and ownership
Company hierarchySubsidiaries1 record
SITE Centers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SITE Centers M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SITE Centers
What does SITE Centers do?
SITE Centers is a self-administered and self-managed real estate investment trust (REIT) that owns and operates open-air shopping centers across the United States. The company generates revenue primarily through rental income from national, regional, and grocery-anchored retail tenants at properties located in high-income suburban communities within major metropolitan statistical areas. Following the October 2023 spin-off of Curbline Properties, the company is executing a strategic asset disposition program, having completed approximately $3.7 billion in asset sales.
Is SITE Centers a public or private company?
SITE Centers is a public company. It is classified as public and is currently operating.
When was SITE Centers founded?
SITE Centers was founded in 2017. It employs 501 to 1,000 people.
Where is SITE Centers based?
SITE Centers is headquartered in Beachwood, United States, in the North America region.
How does SITE Centers make money?
Two revenue lines are on record. Property Rental Income is the primary driver. The others are property Disposition/Capital Recycling.
Who are SITE Centers's main competitors?
Tanger Inc. is listed as a broad incumbent. Direct peers are Brixmor Property Group, Urban Edge Properties, Federal Realty Investment Trust, Kimco Realty, Kite Realty Group, Phillips Edison & Company and Regency Centers. Equity One (now part of Regency) is listed as an others. Curbline Properties is listed as an emerging player.
Does SITE Centers have an API?
No public API is recorded for SITE Centers.
What industry is SITE Centers in?
SITE Centers's product category is Retail REIT. Its primary akta.pro industry code is FSAAAKAA, Core Real Estate (Stabilized/Core-Plus). Its NAICS code is 523940 and its SIC code is 6798.