Summary
Kimco is a last-mile real estate investment trust specializing in the acquisition, development, and management of open-air shopping centers. The company’s portfolio at the end of 2024 consisted of 568 U.S. shopping centers and mixed-use assets with about 101 million feet of gross leasable space. The company recognizes the value of multi-use retail destinations that include smaller tenants, and has maintained relationships with fast-food and coffee retailers. It has shopping centers in 39 states, with a focus on the last-mile suburbs of major metro coastal markets, as well as Sunbelt locations.
At the start of 2025, the company’s portfolio based on ABR was about 53% from anchor stores, of which one-third of anchors were grocery stores. National and regional chain tenants provided about 80% of ABR. In addition to grocery anchors, other anchors include clothing retailers, such as T.J Maxx, the company’s top tenant. The REIT’s largest grocery tenant is Amazon/Whole Foods. Kimco previously held a significant equity stake in Albert