Company Overview
About Kimco Realty
Kimco Realty Corporation is a Jericho, New York-based open-air shopping center REIT — publicly traded on the New York Stock Exchange (NYSE: KIM) as an S&P 500 Real Estate component — owning, operating, and developing open-air grocery-anchored and mixed-use shopping centers primarily in the top-20 major metropolitan markets (New York metro, Los Angeles, Miami, Chicago, Philadelphia, Washington DC, Atlanta, San Francisco Bay Area) through approximately 2,000 employees. Kimco Realty owns 570+ open-air shopping centers aggregating 100 million+ square feet of gross leasable area (GLA), with the portfolio anchored by necessity-based tenants (grocery stores, home improvement, pharmacy, discount retail) that generate traffic-driving anchor tenancy for inline small shop tenants. In January 2023, Kimco Realty completed the acquisition of RPT Realty (NYSE: RPT — a Michigan-based open-air shopping center REIT owning 57 shopping centers) for $2.0 billion — expanding Kimco's footprint in Sunbelt markets (Tampa, Orlando, Atlanta, Charlotte) and adding RPT's grocery-anchored portfolio to Kimco's predominantly major-metro coastal centers. CEO Conor Flynn has executed Kimco's "Last Mile" real estate strategy: concentrating the portfolio in high-density urban and first-ring suburban markets where open-air shopping centers serve as the last-mile convenience fulfillment point for consumers combining physical shopping with BOPIS (buy online, pick up in store) — positioning Kimco's shopping centers as logistics infrastructure for omnichannel retail rather than purely experiential retail destinations.
Business Model & Competitive Advantage
Kimco Realty's open-air shopping center model creates competitive advantages through the grocery-anchored necessity-based tenant mix that drives traffic regardless of consumer spending environment: a Kimco shopping center anchored by Whole Foods, Kroger, or Trader Joe's generates 2-4 customer visits per week from grocery shoppers — creating foot traffic that benefits inline small tenants (nail salons, dry cleaners, pizza restaurants, UPS stores, urgent care clinics) who rely on grocery anchor-generated visits for walk-in customer capture. The necessity-based anchor tenant model (grocery, pharmacy, home improvement) is more e-commerce resistant than fashion retail or electronics — consumers buy groceries at physical stores at 90%+ frequency despite Amazon Fresh and Instacart delivery alternatives. Kimco's Last Mile mixed-use development program (adding residential apartments above or adjacent to existing shopping centers — creating "Whole Foods + Apartments" mixed-use communities in suburban markets) densifies the shopping center real estate with new residential customers who walk to the anchor grocery store, improving anchor tenant performance and enabling Kimco to capture residential development value on underutilized shopping center parking lots.
Competitive Landscape 2025–2026
In 2025, Kimco Realty competes in open-air shopping center ownership against Regency Centers (NASDAQ: REG, grocery-anchored shopping center REIT, second-largest behind Kimco), SITE Centers (NYSE: SITC, off-price/necessity open-air retail REIT), and InvenTrust Properties (NYSE: IVT, Sunbelt grocery-anchored REIT) for grocery-anchored anchor tenant lease renewals, small shop tenancy rental rate growth, and mixed-use development approvals at shopping center parcels. The small shop tenant demand recovery (post-COVID retail leasing normalization has created historically low vacancy rates in necessity-based open-air centers — Kimco reporting 95%+ occupancy in 2024) supports rental rate growth as tenants compete for limited available inline space in top-market anchored centers. Kimco's mixed-use development pipeline (10+ approved or in-development residential projects at existing shopping centers) creates incremental NAV growth beyond operating property NOI — each 300-unit residential tower added to a Kimco shopping center generates $100-150 million in incremental asset value. The 2025 strategy focuses on same-site NOI growth from small shop lease renewals at positive rent spreads, RPT Realty portfolio integration completion (asset dispositions of lower-quality RPT properties, reinvestment in core major-metro centers), and mixed-use residential development approvals.
The Kimco Realty Story
Founders
Company Timeline
Major milestones in Kimco Realty's journey
Leadership Team
Meet the leaders behind Kimco Realty
Conor C. Flynn
Conor C. Flynn has served as CEO of Kimco Realty since January 2016, leading the company through significant growth and strategic transformation. He joined Kimco in 2003 as an asset manager and progressively held senior leadership roles including President, Chief Operating Officer, Chief Investment Officer, and President of the Western Region. Flynn is a licensed real estate broker in California and holds a B.A. from Yale University and a Master's in Real Estate Development from Columbia University. He is a member of NAREIT, the Real Estate Roundtable, the Urban Land Institute (ULI), and the International Council of Shopping Centers (ICSC), and serves on Kimco's Investment Committee.
Ross Cooper
Ross Cooper serves as President and Chief Investment Officer of Kimco Realty, overseeing the company's acquisition and disposition strategy, working closely with the Investment Committee, risk team, and regional leadership. He is a voting member of Kimco's Investment Committee which approves all new investments, development projects, and property dispositions. Cooper joined Kimco in 2006 and previously served as Executive Vice President and Vice President of Acquisitions, Dispositions and Asset Management in Kimco's Southern Region. In January 2025, he was appointed to Kimco's Board of Directors.
Glenn Gary Cohen
Glenn Gary Cohen serves as Executive Vice President, Chief Financial Officer, and Treasurer of Kimco Realty Corporation, overseeing all financial operations, reporting, treasury management, and investor relations for the $14 billion market cap REIT. He plays a critical role in capital allocation strategy, financial planning, and maintaining Kimco's investment-grade credit ratings from all major agencies.
David Jamieson
David Jamieson has served as Chief Operating Officer and Executive Vice President of Kimco Realty since 2017, responsible for property operations, leasing, asset management, and portfolio performance across Kimco's 568 shopping centers. He oversees the operational excellence that has enabled Kimco to achieve 96.3% portfolio occupancy and lease over 11 million square feet annually.
Richard Saltzman
Richard Saltzman became Independent Chairman of Kimco's Board of Directors in 2025, succeeding Milton Cooper who retired after decades of leadership. Saltzman brings extensive experience in real estate investment, corporate governance, and strategic planning to guide Kimco's board and support management's execution of the company's growth strategy.
Milton Cooper
Milton Cooper co-founded Kimco Realty in 1958 and served as President during the company's steady growth through the 1970s, 1980s, and early 1990s. He led Kimco through its groundbreaking 1991 IPO, credited as the first successful equity REIT IPO that created the modern REIT era. Cooper served as Executive Chairman until his retirement at the 2025 Annual Meeting of Stockholders, concluding over 65 years of pioneering leadership in retail real estate.
Nancy Lashine
Nancy Lashine was appointed to Kimco's Board of Directors in January 2025, bringing extensive experience in real estate investment management and industry expertise to the board. Her appointment strengthens Kimco's governance and strategic oversight as the company continues to expand its portfolio and ESG initiatives.
Open Positions
Reddit Discussions
Key Differentiators
Market Leader
Kimco Realty is recognized as a market leader in the Real Estate & Property Tech sector, demonstrating strong industry presence and customer trust.
Enterprise Scale
With $2100M in revenue, Kimco Realty operates at enterprise scale with proven market validation.
Frequently Asked Questions
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