Site Centers Corp. recently sold the Fountains shopping center in Plantation for $70 million to Pine Tree, as part of a larger deal totaling $495 million for six properties across four states. The 438,000-square-foot center is situated on a prime 33.5-acre site between Interstate 95 and Broward Boulevard and features a main building constructed in 1988.
The Fountains boasts an impressive tenant lineup including popular retailers such as Kohl’s, Dick’s Sporting Goods, Joann Fabrics, Marshalls, TooJay’s Deli,and Urban Air Trampoline and Adventure Park among others.
Pine Tree currently manages retail assets worth over $3 billion. Site Centers’ portfolio consists of open-air properties strategically located in highly desirable areas throughout the United States with an emphasis on well-positioned real estate within major metropolitan suburbs that cater to affluent households with significant purchasing power.
This recent transaction by Site Centers highlights their continued success in divesting high-quality retail centers while maintaining their reputation as one of the top players in this market segment.
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