Among its acquisitions during the quarter, Kimco bought a 25% interest in the $123.2-million Fremont (CA) Hub center, paid $85.3 million for 45 net-leased properties and spent $38.1 million on interests in five centers in Mexico. Additionally, Kimco sold 19 properties during the quarter for $138.4 million.

One of the properties in Kimco's development pipeline is the District at Tustin (CA) Legacy, a 1.1-million-sf lifestyle and power center the company is building with Phoenix-based Vestar Development Co. Costco, Lowe's, TJ Maxx, Target and Whole Foods are among the retailers committed to that project.

Kimco's second-quarter net income was $83.8 million, up 17.4% from the same year-ago period. FFO rose 13.7%, to $112.4 million, while occupancy in the REIT's portfolio jumped from 94.3% to 94.8%. The company's board also announced a two-for-one stock split that will pay shareholders a dividend on Aug. 23.