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Kimco Realty history
Kimco Realty company history timeline
Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets, thus the company's name of Kim-co.
For the past 15 years, Kimco had built most of its projects from the ground up; in 1981, only nine of its centers had been purchased after construction.
Shifting its focus away from Florida, Kimco purchased a string of properties in Pennsylvania during 1986 and then began to focus on Ohio, where it would eventually amass about 30 properties.
Importantly, the Tax Reform Act of 1986 had dealt a deathly blow to the industry.
By 1989, however, the real estate business was spiraling into a deep recession.
Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years.
Encouraged by Kimco's success, about 35 other developers created REITs during the next two years. "Before that, people thought it would be impossible to sell real estate stock," Cooper recollected in the September 27, 1993, issue of Newsday.
In 1993, moreover, Kimco gleaned $35 million in profits from nearly $100 million in receipts and invested a record $164 million in new properties.
Kimco Realty Corp., incorporated on March 25, 1994, is a real estate investment trust (REIT) that owns and operates North America’s largest portfolio of neighborhood and community shopping centers.
Kimco continued to post solid gains early in 1994, raising an additional $150 million through two stock offerings, most of which was used to further pare its slimming debt load.
In 1998, the company acquired Price REIT for $535 million in stock.
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.
In 2007, the company acquired Birchwood Development Company for $92 million.
In December 2012, the Company acquired City Heights Retail Village in San Diego.
As of December 31, 2012, the Company owned interests in 896 shopping centers comprising 131 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America.
In March 2013, Kimco Realty Corp announced that it has completed the acquisition of the 283,000-square-foot Wilton River Park in Wilton, Conn.”
In August 2021, the company acquired Weingarten Realty.
As of March 31, 2022, the company owned interests in 537 United States shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.
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Kimco Realty competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Realty Income | 1969 | $2.1B | 194 | 7 |
| BXP | 1970 | $3.4B | 760 | 41 |
| SL Green Realty | 1997 | $1.1B | 1,033 | - |
| Forest City Realty Trust | 1920 | $911.0M | 1,548 | 11 |
| Apollo Global Management | 1990 | $3.6B | 1,600 | 49 |
| Macerich | 1964 | $918.2M | 670 | 21 |
| Simon Property Group | 1993 | $6.0B | 3,300 | 188 |
| Walker & Dunlop | 1937 | $20.4B | 900 | 115 |
| Federal Realty Investment Trust | 1962 | $1.2B | 313 | 11 |
| Realogy | 2006 | $5.7B | 9,435 | - |
Kimco Realty history FAQs
Zippia gives an in-depth look into the details of Kimco Realty, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Kimco Realty. The employee data is based on information from people who have self-reported their past or current employments at Kimco Realty. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Kimco Realty. The data presented on this page does not represent the view of Kimco Realty and its employees or that of Zippia.
Kimco Realty may also be known as or be related to Kimco Realty, Kimco Realty Corp and Kimco Realty Corporation.