Kimco Realty
A U.S. real estate investment trust focused on owning, operating, and developing community and neighborhood shopping centers.
Last updated August 21, 2026
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Overview
Kimco Realty Corporation, commonly known as Kimco, is a publicly traded U.S. real estate investment trust focused on community and neighborhood shopping centers, mixed-use properties, and related retail real estate. The company is headquartered in Jericho, New York, and its portfolio is concentrated in major metropolitan and suburban markets across the contiguous United States, with additional exposure to the Commonwealth of Puerto Rico. The business was formed in 1966 when a group of real estate investors, including Martin Kimmel and Milton Cooper, combined retail-property assets. The name Kimco was derived from the names of the founding investors. The company was incorporated in 1973 and later developed into an internally managed and vertically integrated REIT. Rather than relying solely on external advisers, Kimco built in-house capabilities covering property management, leasing, development, redevelopment, acquisitions, dispositions, and asset management. This structure became a defining feature of its operating model and helped the company manage a large portfolio of grocery-anchored and necessity-oriented shopping centers. Kimco became a public company through an initial public offering in November 1991. Its growth strategy has included both the acquisition of individual properties and the purchase of other retail real estate platforms. Important transactions included the acquisition of Gold Circle in 1988, Price REIT in 1998, Mid-Atlantic Realty Trust in 2003, The Birchwood Organization in 2007, and Weingarten Realty in 2021. The Weingarten transaction significantly expanded Kimco's scale and strengthened its presence in grocery-anchored shopping centers. Kimco subsequently acquired an eight-property Long Island portfolio in 2022, RPT Realty in 2024, and Waterford Lakes Town Center in Orlando, Florida, later in 2024. Kimco's core assets are shopping centers designed to serve recurring daily and weekly consumer needs. Typical tenants include supermarkets, warehouse clubs, pharmacies, restaurants, discount retailers, personal-service businesses, medical providers, and other necessity-based or experiential operators. The company also pursues mixed-use projects and redevelopment opportunities that can add residential, office, hospitality, or other complementary uses to existing retail locations. Its investment thesis generally emphasizes durable locations, high traffic, strong demographics, grocery or other essential anchors, and the ability to increase value through leasing and physical improvement. As of December 31, 2025, the company reported interests in 565 U.S. shopping centers and mixed-use assets representing approximately 100 million square feet of gross leasable space. Kimco is one of the largest shopping-center REITs in the United States. Its principal offering is not a consumer product but access to retail real estate: it provides space, leasing, property operations, and development services to commercial tenants while generating rental and property-level income for shareholders. Kimco's shares trade on the New York Stock Exchange under the symbol KIM.
History
Kimco Realty traces its origins to 1966, when Martin Kimmel, Milton Cooper, and other real estate investors combined retail-property assets. The resulting enterprise adopted the Kimco name and focused on the ownership and operation of shopping centers. The company was formally incorporated in 1973. During its early expansion, Kimco used acquisitions to build scale in retail real estate. In 1988 it acquired Gold Circle, followed by its transformation into a public company through an initial public offering in November 1991. The offering raised $120 million and gave Kimco access to public equity markets for future growth. In 1998, Kimco acquired Price REIT in a stock transaction valued at $535 million, adding to its shopping-center platform. In October 2003, it acquired Mid-Atlantic Realty Trust for $441 million. In 2007, Kimco purchased The Birchwood Organization, a Long Island-based company, for $92 million. A major characteristic of Kimco's model has been vertical integration. The company became the first public vertically integrated REIT designed to be internally managed and advised. Its internal organization supports leasing, property management, development, redevelopment, acquisitions, and asset management. This approach enables Kimco to manage retail properties as an operating platform rather than simply as passive investments. Kimco's portfolio strategy has centered on shopping centers serving everyday consumer requirements. Grocery stores, pharmacies, restaurants, discount retailers, service providers, and medical tenants help create recurring traffic and reduce dependence on discretionary retail alone. The company has also pursued redevelopment and mixed-use projects, seeking to increase the value of established retail locations by adding complementary uses and improving tenant and customer environments. In August 2021, Kimco acquired Weingarten Realty. The transaction was an important scale-building step and added a substantial collection of grocery-anchored shopping centers. In November 2022, Kimco acquired eight Long Island shopping centers for $375.8 million, expanding its holdings in a market close to its headquarters. In January 2024, Kimco acquired RPT Realty, a transaction that further increased its national shopping-center presence and made Kimco the largest shopping-center REIT according to the cited reference material. In October 2024, it acquired Waterford Lakes Town Center for $322 million. By December 31, 2025, Kimco held interests in 565 U.S. shopping centers and mixed-use assets, together representing about 100 million square feet of gross leasable space. The company's history therefore reflects a progression from a regional retail-property enterprise to a large, publicly traded, internally managed shopping-center REIT. Its current identity combines long-term property ownership, tenant leasing, operating expertise, acquisitions, and redevelopment in U.S. metropolitan and suburban markets, along with properties in Puerto Rico.
- 2025
Portfolio reaches reported 565 assets
[1]As of December 31, Kimco reports interests in 565 U.S. shopping centers and mixed-use assets totaling approximately 100 million square feet of gross leasable space.
- 2024
RPT Realty acquisition
[1]Kimco acquires RPT Realty and becomes the largest shopping-center REIT according to the cited reference.
- 2024
Waterford Lakes Town Center acquisition
[1]Kimco acquires Waterford Lakes Town Center for $322 million.
- 2022
Long Island portfolio acquisition
[1]Kimco acquires eight Long Island shopping centers for $375.8 million.
- 2021
Weingarten Realty acquisition
[1]Kimco acquires Weingarten Realty, substantially expanding its grocery-anchored shopping-center portfolio.
- 2007
Birchwood acquisition
[1]Kimco acquires The Birchwood Organization for $92 million.
- 2003
Mid-Atlantic Realty Trust acquisition
[1]Kimco acquires Mid-Atlantic Realty Trust for $441 million.
- 1998
Price REIT acquisition
[1]Kimco acquires Price REIT in a stock transaction valued at $535 million.
- 1991
Initial public offering
[1]Kimco becomes publicly traded through an initial public offering in November that raises $120 million.
- 1988
Gold Circle acquisition
[1]Kimco acquires Gold Circle for $325 million.
Products and positioning
An internally managed U.S. shopping-center REIT emphasizing grocery-anchored, necessity-based retail, metropolitan locations, and mixed-use redevelopment.
Retail real estate
Grocery-anchored shopping centers
Kimco's principal asset category consists of community and neighborhood shopping centers anchored by supermarkets or other necessity-oriented retailers. These properties are intended to generate recurring traffic and support a diversified tenant base that can include pharmacies, restaurants, services, medical users, and discount retailers. Kimco owns interests in the properties and provides leasing, property management, and asset-management functions.
Mixed-use real estate
Mixed-use properties
Kimco also owns and develops mixed-use assets that combine retail with complementary uses such as residential, office, hospitality, or community-oriented components. These projects allow the company to intensify established shopping-center sites and create additional value through redevelopment, improved amenities, and a broader mix of daily-use destinations.
Commercial real estate services
Tenant leasing and property services
Through its internally managed platform, Kimco provides commercial leasing, tenant coordination, property operations, maintenance oversight, and asset-management services for its retail portfolio. These capabilities support occupancy, tenant retention, redevelopment, and the long-term operation of shopping centers rather than representing a separately branded consumer product.
Brand decisions
2024
Acquire RPT RealtyM&ABackground
Kimco continued expanding through shopping-center REIT consolidation.
Action taken
Kimco acquired RPT Realty in January 2024.
Aftermath
The acquisition made Kimco the largest shopping-center REIT according to the cited reference material.
2021
Acquire Weingarten RealtyM&ABackground
Kimco aimed to increase scale and deepen its exposure to grocery-anchored shopping centers.
Action taken
Kimco completed the acquisition of Weingarten Realty in August 2021.
Aftermath
The combined company had a larger national portfolio and a stronger concentration in necessity-oriented retail properties.
2003
Acquire Mid-Atlantic Realty TrustM&ABackground
Kimco pursued additional regional scale in shopping-center real estate.
Action taken
Kimco acquired Mid-Atlantic Realty Trust for $441 million.
Aftermath
The transaction strengthened Kimco's position in Mid-Atlantic retail markets.
Acquisition value. $441 million (October 2003)
1998
Acquire Price REITM&ABackground
Kimco continued consolidating shopping-center real estate through the acquisition of another REIT.
Action taken
Kimco acquired Price REIT in a stock transaction valued at $535 million.
Aftermath
The deal expanded Kimco's retail real estate portfolio and reinforced its acquisition-led growth model.
Transaction value. $535 million in stock (1998)
1991
Become a publicly traded REITStrategyBackground
Kimco needed access to public capital markets to support continued expansion and institutionalize its ownership platform.
Action taken
The company completed an initial public offering in November 1991.
Aftermath
Kimco became a public company and gained a listed equity currency for future acquisitions and development.
IPO proceeds. $120 million (November 1991)
1988
Acquire Gold CircleM&ABackground
Kimco sought to expand its retail-property platform through the purchase of Gold Circle.
Action taken
Kimco completed the acquisition for $325 million.
Aftermath
The transaction increased Kimco's shopping-center holdings and supported its subsequent growth strategy.
Acquisition value. $325 million (1988)
Recent events
Kimco Realty acquires two Louisville shopping centers[3]
Reported:
Kimco Realty announced its $295 million acquisition of Paddock Shops and Shelbyville Road Plaza, two grocery-anchored shopping centers in Louisville, Kentucky.
- Unconfirmed
Kimco Realty prices inaugural green bond offering[4]
Kimco Realty announced pricing of a public offering of $500 million in 2.700% notes due 2030, described as green bonds. The offering was expected to settle on July 13, 2020, subject to customary closing conditions.
Sources4 sources
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