# Kimco Realty

**Source:** https://geo.sig.ai/brands/kimco-realty  
**Vertical:** Real Estate & Property Tech  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** kimcorealty.com  
**Last Updated:** 2026-04-14

## Summary

Jericho NY open-air grocery-anchored shopping centers (NYSE: KIM) ~$2.1B FY2024 revenue; 570+ centers in top-20 metros, RPT acquisition 2023, Last Mile mixed-use strategy competing with Regency Centers.

## Company Overview

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.

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.

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.

## Frequently Asked Questions

### What does Kimco Realty do?
Kimco Realty Corporation is the largest publicly traded owner and operator of open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company owns interests in 568 U.S. properties comprising 101.1 million square feet of gross leasable space, strategically located in first-ring suburbs of major metropolitan markets. Kimco focuses on essential retail properties anchored by grocery stores and featuring necessity-based tenants that drive consistent foot traffic.

### Who are Kimco Realty's customers and target market?
Kimco's customers are retail tenants including grocery chains (Kroger, Albertsons, Whole Foods), big-box retailers (Home Depot, TJX Companies, Ross Stores), discount stores (Walmart, Target, Dollar Tree), and small-shop tenants providing essential services (restaurants, medical centers, fitness, personal services). The company serves over 5,000 different tenants across its portfolio, with only 10 tenants representing over 1% of annual base rent each, demonstrating exceptional diversification.

### When was Kimco Realty founded?
Kimco Realty was founded in 1958 by Martin Kimmel and Milton Cooper, who built their first neighborhood shopping center, the Coral Way Plaza in Miami, Florida. The Kimco Corporation was formally established in 1966 when the founders merged their retail assets, and the company was incorporated in 1973. Kimco became a publicly traded REIT through its historic November 1991 IPO, the first successful equity REIT IPO in many years.

### Where is Kimco Realty based?
Kimco Realty is headquartered in Jericho, New York, on Long Island. While the company's properties are located across the United States with strategic concentration in high-barrier-to-entry coastal markets (New York, California, Washington D.C.) and rapidly growing Sun Belt cities (Florida, Texas, Arizona), corporate headquarters and executive leadership are based in Jericho.

### How much funding has Kimco Realty raised?
Kimco Realty became a publicly traded company through its groundbreaking November 1991 IPO that raised $120 million, marking the first successful equity REIT IPO in many years. As a mature public company with a $14 billion market cap and investment-grade credit ratings, Kimco accesses capital through equity offerings, debt issuances, and its operating cash flow. In July 2020, the company issued a $500 million green bond to fund sustainability initiatives.

### What makes Kimco Realty different from competitors?
Kimco differentiates itself as the largest shopping center REIT with strategic focus on grocery-anchored properties (82% of ABR), high-quality locations in first-ring suburbs, exceptional tenant diversification (over 5,000 tenants), and industry-leading ESG performance (sole retail real estate owner on DJSI North America Index for 6 years). The company's 96.3% occupancy rate, investment-grade credit ratings from all major agencies, and 33-year public trading history demonstrate operational excellence and financial strength.

### Who are Kimco Realty's main competitors?
Kimco's primary competitors include Regency Centers Corporation, Brixmor Property Group, Federal Realty Investment Trust, Simon Property Group, Kite Realty Group Trust, SITE Centers, and Vornado Realty Trust. While Simon Property Group focuses more on enclosed malls, Kimco's strategic emphasis on open-air, grocery-anchored centers has proven more resilient, particularly during the COVID-19 pandemic. Kimco and Regency Centers are the two largest publicly traded grocery-anchored shopping center REITs.

### How can I contact Kimco Realty?
You can contact Kimco Realty through their website at www.kimcorealty.com, which provides contact information for leasing inquiries, investor relations, corporate communications, and general information. For leasing opportunities, visit the Portfolio Review section. For investor relations inquiries, contact the company's IR department through the investor section of the website. Corporate headquarters are located in Jericho, New York.

### Is Kimco Realty hiring?
Yes, Kimco Realty regularly hires real estate professionals, leasing specialists, property managers, financial analysts, and corporate staff to support its 568-property portfolio. The company has been certified as a Great Place to Work for seven consecutive years and has been recognized as Best Workplaces in Real Estate, Best Workplaces in New York, and Best Workplaces for Millennials. Career opportunities are posted on Kimco's website and major job boards.

### What's the latest news about Kimco Realty?
In February 2025, Kimco reported strong fourth quarter and full year 2024 results with net income of $154.8 million ($0.23 per share) and Funds From Operations of $286.9 million, up 7.7% year-over-year. The company leased over 11 million square feet in 2024, achieved 96.3% portfolio occupancy, and generated $2.04 billion in revenue (up 14.22% YoY). In January 2025, Kimco announced board leadership transitions with founder Milton Cooper retiring as Executive Chairman and Richard Saltzman becoming Independent Chairman.

### What is Kimco Realty's market position?
Kimco Realty is the largest publicly traded shopping center REIT in the United States with a market capitalization of approximately $14 billion as of early 2025. The company owns 568 properties totaling 101.1 million square feet, maintains investment-grade credit ratings from all major agencies (Moody's: Baa1, S&P: A-, Fitch: BBB+), and has been the sole retail real estate owner on the DJSI North America Index for six consecutive years, demonstrating industry-leading ESG performance.

### What are Kimco Realty's future plans?
Kimco's strategic priorities include increasing grocery-anchored properties to 85% of ABR by fiscal 2025, continuing mixed-use development initiatives, integrating the RPT Realty acquisition to capture $34 million in cost synergies, expanding its portfolio in high-growth Sun Belt markets, and advancing ESG goals including science-based emissions reduction targets and diversity initiatives (60% diverse employees in management by 2030). The company projects 2025 net income of $0.70-$0.72 per share and FFO of $1.70-$1.72 per share.

## Tags

b2b, north-america, proptech, public, saas

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*