Kimco Realty® (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of September 30, 2022, the company owned interests in 526 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space. BUILDING THE FUTURE OF RETAIL Kimco Realty was the first public

vertically integrated In microeconomics, management and international political economy, vertical integration is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply ...

REIT designed to be internally managed and advised, providing its own property and asset management.

History

Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including

Martin Kimmel Martin S. Kimmel (April 9, 1916 – April 15, 2008) was an American real estate developer and philanthropist who co-founded Kimco Realty Corporation, the largest builder of strip malls in the United States. Early life and education Kimmel was bor ...

and Milton Cooper, who merged their retail assets, thus the company's name of Kim-co. In 1991, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

, raising $120 million. In 1998, the company acquired Price REIT for $535 million in stock. In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million. In 2007, the company acquired Birchwood Development Company for $92 million. In August 2021, the company acquired

Weingarten Realty Weingarten Realty Investors was a real estate investment trust that invested in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores. In August 2021, the company was acquired by Kimco ...

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{{Authority control Companies listed on the New York Stock Exchange Real estate companies established in 1960 Companies based in Nassau County, New York Real estate investment trusts of the United States 1960 establishments in New York (state)