Kimco, by far the leading REIT that owns and operates grocery-anchored shopping centers, has hit a benchmark as it enters 2024 that underlines its dominance in the robust open-air retail sector: its portfolio now spans more than 100M SF.
The Jericho, NY-based REIT, which built its portfolio with properties in first-ring suburbs of major metropolitan markets, rapidly is expanding its Sun Belt holdings and zeroing in on assets that offer the potential for development as mixed-use centers.
Kimco, which has established a goal of generating 15% of its NOI from mixed-used properties by 2025, has secured several assets in recent acquisitions that will put it within reach of the target.
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