Banc of America will act as sole bookrunning underwriter for the offering. The company has also granted Banc of America Securities LLC an over-allotment option to purchase an additional 360,000 shares of its common stock.

In late August, Kimco sold the Searstown Mall in Leominster, MA for approximately $64.5 million and will recognize a gain of approximately $30 million in the third quarter. Proceeds will fund its investment pipeline of neighborhood and community shopping centers. In June, Kimco issued just over two million shares of common stock in a primary public offering, which raised net proceeds of approximately $76 million. The company intended to use the net proceeds to repay a portion of the outstanding balance on its revolving credit facility.

Mid-Atlantic Realty Trust shareholders will vote Sept. 30 on MART's proposed merger with Kimco. In June, the pair entered into a definitive merger agreement where Kimco will acquire all of the outstanding shares of MART for $21 per share in cash in a transaction in which MART will merge into a Kimco subsidiary. Following the acquisition, Kimco will bring its total interests to 684 properties comprising approximately 98 million sf of leasable space. The transaction has a total equity value of approximately $444 million based upon MART's approximately 21 million common shares and partnership units outstanding.