Re/Development

Program

Demand for high quality retail estate is on the rise, as national retailers and consumers recover from the COVID-19 pandemic. Although demand is increasing, the available supply of quality space is not, with virtually no new shopping centers being built today.

Against this backdrop, Kimco is stepping up its efforts to enhance and transform the value of its portfolio by developing, redeveloping, re-tenanting and expanding our best located centers in top MSAs nationwide. Our program also introduces multi-family and hotel products to the mix, promoting a “Live, Work, Play” Environment in this ever changing retail landscape. More recently, Kimco is evaluating Industrial and Distribution opportunities within our assets to take advantage of the crucial “Last Mile” between the retailer and consumer. Not only are these projects good for Kimco, they benefit the retailers and the communities they serve.

Kimco's full (RE)/Development pipeline includes projects in primary markets with gross costs exceeding $1B. The program consists of 45 dynamic projects with active redevelopments comprising approximately 30% of the full pipeline.

Property Listings

• Signature Series
• Re/Development

Re/development Pipeline

Development: Ground up developments on sites that sit within Kimco top MSAs; have great visibility and access from major road networks; and provide opportunity to be a “Live, Work & Play Environment”, including residential/hotel mixed-use.

Redevelopment: Large scale projects that require demolition and/or addition of GLA to the site.

Value Creation: Combining or subdividing space of 30,000 square feet or more, and bringing a new use to the site that will improve the existing credit profile and compress the cap rate for the entire site. Examples include the addition of grocery uses or non-retail.

Pad/Outlots: Demolition and/or creation of outparcels with optimal visibility in front of our shopping centers.

When revitalizing its centers, Kimco keeps environmental impacts top of mind. Where possible, the projects incorporate the latest energy-efficient and environmentally friendly design standards and building materials.

Retailers benefit from the increased foot traffic that comes with the improved appearance and new shopper amenities offered by these centers. And the community benefits from having a renewed hub of economic activity. These projects create new construction and retailing jobs, generate increased tax revenues, and improve area real estate values.