Kimco Realty
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Kimco Realty Corporation (ticker symbol KIM) is the U.S.'s largest retail REIT specializing in neighborhood and community shopping centers.
Kimco started in 1960 with a partnership between Milton Cooper, Chairman and CEO, and Martin Kimmel, Chairman Emeritus. They opened their first shopping center in southern Florida. They incorporated in 1966, and went public in 1991. In 1998 they merged with Price REIT, a developer and owner of highly valued shopping centers on the West Coast.
KIM is One of the Best Known Real Estate Investment Trusts -- Milton Cooper is a Well-Known and Respected Leader in the Real Estate Industry
They operate the kind of small strip shopping that's anchored by a supermarket, discount department store or drugstore. Where you go to buy a quick loaf of bread or tube of toothpaste.
Kimco now owns about 2,000 properties in 45 U.S. states, Puerto Rico, Canada, Mexico and Chile. It operates 183 million square feet of leasable space.
Kimco Realty manages to keep management up with local geographic conditions (one strength of REITs) by maintaining offices throughout the U.S. This helps them stay in touch with local neighborhood conditions despite the national reach of their properties.
They are currently partnered with Kimco Developers, Inc (KDI) to develop new neighborhood stopping centers. They have the The Kimco Redevelopment Group working on expanding and adapting properties, especially first ring suburban assets.
They are constantly buying new property -- spending $1 billion last year. They'll even offer to pay cash up front. Kimco Core Portfolio Acquisition.
For their tenants, they provide property management services.
In September 2006, Kimco bought up the Pan Pacific Retail Properties REIT and merged it with their subsidiary, KRC Acquisition, Inc.
Next: Regency Centers -- neighborhood shopping centers.
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