Kimco Realty Acquires or Increases Equity Interests in Eight Retail Properties Totaling $221 million in the First Quarter of

  Kimco Realty Acquires or Increases Equity Interests in Eight Retail
  Properties Totaling $221 million in the First Quarter of 2013; Closes
  SUPERVALU Investment.

Business Wire

NEW HYDE PARK, N.Y. -- April 15, 2013

Kimco Realty Corp. (NYSE: KIM), North America’s largest owner and operator of
neighborhood and community shopping centers, today reported its first quarter
2013 transaction activities. Highlights of the quarter include the acquisition
or increased equity investment in eight retail properties and participation in
a consortium that acquired from SUPERVALU Inc., the operations of its
Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners comprising 877
grocery locations.


During the first quarter, Kimco acquired six shopping centers and two retail
parcels totaling 1.5 million square feet, for approximately $221 million. In
addition to obtaining four properties adjacent to or in immediate proximity to
existing Kimco shopping centers, first quarter 2013 acquisitions include the
company successfully purchasing the remaining interest in three properties
from existing joint venture partners and the conversion of a preferred equity
investment into a long-term retail joint venture. Opportunistically acquiring
equity interests from existing joint venture partners represents a key element
of Kimco’s strategy. Additional first quarter acquisition details are as

  *Wilton River Park / Wilton Executive Campus (Wilton, Conn.) – Kimco
    recently announced the purchase of Wilton Executive Campus and Shoppes for
    $42 million. This transaction provides Kimco full control of the
    283,000-square-foot grocery-anchored Wilton River Park, which is desirably
    situated within the upscale market of Lower Fairfield County, Conn. that
    has an average household income within three miles of $241,000.
  *Santee Trolley Square (Santee, Calif.) – Kimco acquired the remaining
    55-percent interest from other investors in this 311,000-square-foot power
    center for a gross purchase price of $98 million. Located in the San Diego
    suburb of Santee, Calif., this center is 98-percent-occupied and anchored
    by several prominent national retailers such as T.J.Maxx, PetSmart, Party
    City, Bed Bath & Beyond, 24 Hour Fitness, Old Navy and a shadow-anchored
  *Columbia Crossing II (Columbia, Md.) – Kimco acquired this fully-occupied
    101,000-square-foot unencumbered retail center for $21.8 million. Columbia
    Crossing II is located directly across from Kimco’s fully leased Columbia
    Crossing shopping center and anchored by a 63,000-square-foot Toys “R” Us
    and 24,000-square-foot REI. Situated within the strong retail
    Washington-Baltimore corridor, both Columbia Crossing and Columbia
    Crossing II shopping centers have an average household income within three
    miles of more than $105,000.
  *Putty Hill Plaza (Baltimore, Md.) – The company acquired, from an existing
    institutional joint venture partner, the remaining 80-percent interest in
    this 91,000-square-foot center grocery-anchored property for a gross
    purchase price of $14.2 million. Putty Hill Plaza is located in a densely
    populated area of more than 135,000 people within three-miles of the
    center and is anchored by a Giant Food.
  *Shops at Kildeer (Kildeer, Ill.) – Kimco purchased, from an existing
    institutional joint venture partner, the remaining 81-percent interest in
    this 168,000-square-foot shopping center for a gross purchase price of
    $32.7 million. Located 30 miles northwest of Chicago in an area that
    possesses an average household income greater than $108,000, Shops at
    Kildeer is fully occupied and anchored by Bed Bath & Beyond, Cost Plus,
    Michaels, Old Navy, Ulta 3 and Earthsport Outfitters.
  *Village Commons (Tallahassee, Fla.) – The company acquired the fee
    interest in an unencumbered grocery-anchored parcel located within its
    existing Village Commons shopping center for $7.1 million. Kimco now owns
    the entire 231,000-square-foot complex. This acquisition adds gourmet
    grocer, The Fresh Market, to the center’s existing anchors that include
    HomeGoods and Stein Mart.
  *Roseville Plaza (Roseville, Minn.) – Kimco acquired the fee interest in an
    unencumbered parcel located in the Minneapolis suburb of Roseville, Minn.,
    through a sale-leaseback transaction for $5.1 million. This property,
    which will be incorporated into the company’s existing Roseville Plaza
    shopping center, comprises 80,000 square feet and is anchored by Sports
    Authority and Planet Fitness.
  *The Village Shopping Centre (St. John’s, Newfoundland) – The company
    converted its existing preferred equity investment in the property into a
    pari passu joint venture. Kimco now owns 55.5 percent of the
    429,000-square-foot retail property that features more than 80 stores
    including Bed Bath & Beyond, Urban Planet and GoodLife Fitness.

Also during the quarter, additional investment activity includes the following

  *Kimco Income Fund (KIF) I Joint Venture – Kimco increased its ownership
    stake in this institutional joint venture from 14.2 percent to 29.8
    percent by purchasing a minority partner’s interest for $19.9 million. KIF
    I is a 1.5 million-square-foot portfolio of 12 geographically diverse,
    high-quality retail properties with pro-rata occupancy of 97 percent with
    an average base rent of $17.37 per square foot.
  *SUPERVALU Inc. – Kimco, through wholly owned subsidiaries, invested a
    total of $71.3 million for its 15 percent interest in a consortium that is
    participating in two previously announced transactions with SUPERVALU Inc.
    The company invested $37.2 million toward the acquisition of the
    Albertsons, Shaw’s, Jewel-Osco, Acme and Star Market banners from
    SUPERVALU Inc. comprising 877 grocery locations for $3.3 billion. In
    addition as part of a tender offer, Kimco funded $34.1 million for
    approximately 8.2 million common shares, representing 3.2 percent of the
    total shares outstanding, of SUPERVALU Inc.


In the first quarter of 2013, Kimco sold two shopping centers, totaling
292,000 square feet for a gross sales price of $10.3 million. Currently, the
company has 14 retail properties in contract negotiations for approximately
$100 million. Also during the first quarter, the company sold a non-retail
urban property located in the Bronx, N.Y. for $3.6 million.


Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT)
headquartered in New Hyde Park, N.Y., that owns and operates North America’s
largest portfolio of neighborhood and community shopping centers. As of Dec.
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. Publicly traded on the NYSE since 1991, and included
in the S&P 500 Index, the company has specialized in shopping center
acquisitions, development and management for more than 50 years. For further
information, please visit, the company’s blog at, or follow Kimco on Twitter at


The statements in this news release state the company's and management's
intentions, beliefs, expectations or projections of the future and are
forward-looking statements. It is important to note that the company's actual
results could differ materially from those projected in such forward-looking
statements. Factors that could cause actual results to differ materially from
current expectations include, but are not limited to, (i) general adverse
economic and local real estate conditions, (ii) the inability of major tenants
to continue paying their rent obligations due to bankruptcy, insolvency or a
general downturn in their business, (iii) financing risks, such as the
inability to obtain equity, debt, or other sources of financing or refinancing
on favorable terms, (iv) the company’s ability to raise capital by selling its
assets, (v) changes in governmental laws and regulations, (vi) the level and
volatility of interest rates and foreign currency exchange rates, (vii) the
availability of suitable acquisition and disposition opportunities, (viii)
valuation of joint venture investments, (ix) valuation of marketable
securities and other investments, (x) increases in operating costs, (xi)
changes in the dividend policy for our common stock, (xii) the reduction in
our income in the event of multiple lease terminations by tenants or a failure
by multiple tenants to occupy their premises in a shopping center, (xiii)
impairment charges, and (xiv) unanticipated changes in our intention or
ability to prepay certain debt prior to maturity and/or hold certain
securities until maturity. Additional information concerning factors that
could cause actual results to differ materially from those forward-looking
statements is contained from time to time in the company's Securities and
Exchange Commission filings, including but not limited to the company's Annual
Report on Form 10-K for the year ended Dec. 31, 2012. Copies of each filing
may be obtained from the company or the Securities and Exchange Commission.

The company refers you to the documents filed by the company from time to time
with the Securities and Exchange Commission, specifically the section titled
"Risk Factors" in the company's Annual Report on Form 10-K for the year ended
Dec. 31, 2012, as may be updated or supplemented in the company’s Form 10-Q
filings, which discuss these and other factors that could adversely affect the
company's results.


Kimco Realty Corporation
David F. Bujnicki
Vice President, Investor Relations and Corporate Communications
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