The Ardent Companies (Ardent) acquired 76 acres of the Seminole Towne Center site in Sanford, FL, for $17.5 million. Ardent intends to redevelop the site into a mixed-use destination that will include new retail, multifamily and a hotel. 

The site, a 30-year-old mall that has since closed, was sold by 4th Dimension Properties. Katz’s Daniel Solomon represented 4th Dimension Properties. In 2020, 4th Dimension and an investor partner paid $52.3 million for the property. 

Ardent’s Matt Shulman added, “We will work in close collaboration with the City of Sanford and other stakeholders to redevelop this site into a mixed-use district that will once again serve as an exciting hub of activity for residents and visitors. We look forward to sharing more details soon.”

“The scope of this project will amount to the largest retail redevelopment in Seminole County’s history,” said Sanford Director of Economic Development, Brady Lessard.

The Seminole Towne Center redevelopment is a long-term investment for Ardent. The company has a history of revitalizing distressed assets.