The plans, announced by executives during the company's fourth-quarter conference call, were not given a timetable. Kimco is considering such an expansion as other US retail REITs, such Simon Property Group and General Growth Properties, are expanding abroad.

So far this year, Kimco has acquired 47 properties totaling $316 million. The purchases included a Western portfolio of 19 assets for $134 million; Copperwood Village, a 350,000-sf center in Houston, for $73.9 million; and $23.1 million in equity investments in 16 Canadian properties.

The acquisitions follow $1.4 billion of buys last year, with $736.7 million of that, representing 138 properties, closing in the fourth quarter. Kimco's portfolio currently consists of 1,046 centers in North America totaling 132 million sf.