Kimco commences $186 million redevelopment of former Hylan Plaza shopping center on Staten Island into The Boulevard

Kimco commences $186 million redevelopment of former Hylan Plaza shopping center on Staten Island into The Boulevard

 

Anchors for the multi-level, open-air center include ShopRite, Alamo Drafthouse, Marshalls, Ulta, PetSmart, LA Fitness and more

NEW HYDE PARK, N.Y., 2017-Nov-08 — /EPR Retail News/ — Kimco Realty Corp. (NYSE:KIM) has commenced construction on The Boulevard, the company’s dramatic $186 million redevelopment of the former Hylan Plaza shopping center on Staten Island, New York. The dynamic retailer lineup for this grocery-anchored Kimco Signature Series redevelopment includes best-in-class brands such as ShopRite, Alamo Drafthouse, Marshalls, Ulta, PetSmart and LA Fitness. The 460,000-square-foot open-air center, which will feature a multi-level “main street” format, is scheduled to open in early 2020.

“The Boulevard is 80 percent preleased as construction begins, demonstrating the solid demand we continue to see in the marketplace, particularly from necessity, discount, health and beauty, and entertainment concepts, which we consider to be in the sweet spot of retail,” stated David Jamieson, Executive Vice President and Chief Operating Officer at Kimco. “With a full roster of thriving national and regional brands already committed, it’s evident that investing in our portfolio through redevelopment is a clear path to organic growth and value creation for our shareholders.”

Hylan Plaza’s transformation into The Boulevard will result in a newly-constructed, multi-story center with a “town square” feel, where ground-level retail shops and restaurants face a main street plaza with sidewalks and outdoor dining. The second level accommodates larger anchor tenants and entertainment attractions, with multiple access points providing connectivity across the two levels.

Regional grocer ShopRite will headline the redevelopment, moving from a nearby location into a 68,000-square-foot space at The Boulevard. Alamo Drafthouse, well known for its outstanding food and beverage service brought to the theater seats, will open a 46,000-square-foot cinema, its first location in the Staten Island borough. Marshalls, Ulta, PetSmart and LA Fitness are expanding their presence in the Staten Island market with new locations at The Boulevard.

The project sits along Hylan Boulevard, a major commercial corridor that sees close to 50,000 cars per day, and is easily accessible from all parts of the island. The densely populated Staten Island is New York City’s wealthiest outer borough, and the site boasts excellent demographics, with a three-mile population of 156,000 and an average household income of $97,000. The Boulevard comes on the heels of Kimco’s successful completion of three additional redevelopment projects on Staten Island, where the company owns five properties totaling approximately 1 million square feet, making it one of the borough’s largest retail landlords. Since 2013, Kimco has invested in the transformation of over 560,000 square feet of retail on the island with additional phases underway, consistent with its 2020 Vision strategy to create value through the redevelopment and densification of its existing portfolio, clustered around major metropolitan markets.

“The Boulevard will bring a host of benefits to the people of Staten Island,” said Josh Weinkranz, President, Northeast Region at Kimco. “Along with renewed economic activity and jobs, both construction and permanent, we’re providing this community with new and exciting retail and entertainment options, and a shopping and dining experience unlike any other on the island.”

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of September 30, 2017, the company owned interests in 507 U.S. shopping centers comprising 84 million square feet of leasable space primarily concentrated in the top major metropolitan markets. 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 www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Contact:
Jennifer Maisch
516-869-7224
Director, Corporate Communications
jmaisch@kimcorealty.com

Source: Kimco Realty Corporation

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Kimco: Cinépolis USA to bring its Luxury Cinema concept to Kentlands Market Square in Gaithersburg, Maryland

Kimco: Cinépolis USA to bring its Luxury Cinema concept to Kentlands Market Square in Gaithersburg, Maryland

 

The arrival of this luxury cinema kicks off a full-scale redevelopment of the Maryland open-air shopping center

NEW HYDE PARK, N.Y., 2017-Jul-21 — /EPR Retail News/ — Kimco Realty Corp. (NYSE: KIM) announced that it has signed a lease with Cinépolis USA, a leading world-class cinema exhibitor, to bring their Luxury Cinema concept to Kentlands Market Square in Gaithersburg, Maryland. This announcement marks the first stage in a comprehensive redevelopment of the 250,000-square-foot center which will result in a walkable, mixed-use destination with a wide array of shopping, dining and entertainment options.

“With Cinépolis USA, we’re bringing the very best in entertainment to the residents of Gaithersburg,” said Tom Simmons, President of Kimco’s Mid-Atlantic Region. “We consider this the first step in transforming Kentlands Market Square into the vibrant town center that it was always intended to be.”

Kentlands Market Square is a Whole Foods-anchored, open-air center in an affluent master-planned community in a northwest suburb of Washington D.C. Kimco acquired the center in 2016 in large part because of the asset’s prime redevelopment potential. The company’s planned multi-year project will include renovated facades, improved pedestrian access and signage, as well as upgraded lighting and landscaping, in addition to increased density. The project’s focal point will be the revitalization of Market Street, the center’s “main street,” including the creation of a new “paseo” lined with cafes, boutiques and service offerings.

“The redevelopment of Kentlands Market Square is a prime example of how retail will evolve to meet changing consumer needs,” said David Jamieson, Executive Vice President and Chief Operating Officer of Kimco Realty. “By bringing in a unique operator like Cinépolis USA, we’re elevating the experience at Kentlands and providing residents with much more than just a shopping trip. The addition of entertainment, dining and service offerings, along with top-performing retailers, is key to our redevelopment strategy and the execution of our 2020 Vision.”

Cinépolis Luxury Cinemas-Gaithersburg, anticipated to open in 2019, marks Cinépolis USA’s debut into Maryland and adds to the brand’s existing list of 16 movie houses in the U.S., six of which are Luxury Cinemas. The approximately 34,000-square-foot movie theater will hold 540 seats, and offer guests an exciting new movie-going experience with its fully-reclining leather seat auditoriums, cutting-edge sound and high-definition projection technology, an upscale lounge-style lobby space, gourmet meals and a curated selection of beer, wine and liquor, as well as its in-theater waiter service.

“Teaming with Kimco to be an entertainment anchor in Kentlands Market Square is a tremendous opportunity,” said Neil Baron, Vice President of Real Estate, Cinépolis USA. “The breadth of this project, coupled with the company’s exceptional background, marks an exciting move for the area of which we are thrilled to be a part. The redevelopment’s emphasis on building community and offering a wide series of elevated experiences are brand pillars for Cinépolis USA. We look forward to introducing an unforgettable luxury experience to new film aficionados in the area.”

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2017, the company owned interests in 510 U.S. shopping centers comprising 84 million square feet of leasable space across 32 states and Puerto Rico. 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 www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

About Cinépolis USA

Cinépolis USA is a leading world-class cinema exhibitor that offers guests enhanced movie-going experiences through its “Cinépolis Luxury Cinemas” and “Cinépolis” theater concepts, and newly debuted 4DX and kid-approved Cinépolis Junior auditoriums. The Dallas-based theater chain opened its first theater in Del Mar, CA in July 2011 and has some of the top performing theaters in the country, currently operating a total of 16 theaters with a presence in Southern California, Florida, New York, New Jersey and Connecticut. Additional theaters across the U.S. are planned to open in the next few years. Its México-based parent company, Cinépolis, is the fourth largest movie theater exhibitor in the world. For more information about Cinépolis USA, please visit www.cinepolisusa.com, or follow on Facebook at www.facebook.com/CinepolisUSA, Instagram at @CinepolisUSA or Twitter at www.twitter.com/CinepolisUSA.

Contact:
Jennifer Maisch
516-869-7224
Director, Corporate Communications
jmaisch@kimcorealty.com

Source: Kimco Realty Corporation

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Kimco: Target to open at Westmont Plaza in Haddon Township, New Jersey in July 2018

The addition of the brand’s small-format concept will spark a transformative repositioning of this New Jersey shopping center

NEW HYDE PARK, N.Y., 2017-Jul-15 — /EPR Retail News/ — Kimco Realty Corp. (NYSE: KIM) announced that it has signed a lease with Target for a 48,000-square-foot, small-format store at Westmont Plaza in Haddon Township, New Jersey, set to open in July 2018. The addition of Target is the first step in a larger repositioning of the 173,000-square-foot, open-air center.

“The addition of Target opens the door for some exciting changes that will significantly enhance the retail and service offerings available in Haddon Township,” said David Jamieson, Executive Vice President and Chief Operating Officer of Kimco Realty. “Quality attracts quality, and we’ve seen that time and time again across our portfolio as we redevelop assets and execute on our 2020 Vision. Residents can look forward to additional changes in the near future, with Target setting the tone for Westmont Plaza’s revitalization.”

The Westmont Target, which is the brand’s third small-format store in the state of New Jersey, will provide residents with a quick-trip shopping experience featuring Target’s curated assortment of apparel and accessories, grocery and grab-and-go items, beauty products, electronics, toys, and more. The store will also offer a CVS Pharmacy and Target’s Order Pickup service for added convenience.

“We’re thrilled to bring the convenience of Target and its robust assortment of offerings to the residents of Haddon Township,” said Tom Simmons, President of Kimco’s Mid-Atlantic Region. “This addition is the perfect fit for the community, and we look forward to providing more best-in-class brands that will transform the shopping experience at Westmont Plaza.”

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2017, the company owned interests in 510 U.S. shopping centers comprising 84 million square feet of leasable space across 32 states and Puerto Rico. 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 www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Contact:
Jennifer Maisch
516-869-7224
Director, Corporate Communications
jmaisch@kimcorealty.com

Source: Kimco Realty Corporation

Kimco announces achievements on its corporate responsibility program for 2016

Building on the corporate responsibility program’s six years of success, Kimco sets its sights beyond basic environmental, social, and governance practices

NEW HYDE PARK, N.Y., 2017-Jun-17 — /EPR Retail News/ — Kimco Realty Corp. (NYSE: KIM) announced today (6/15/2017) the release of its 2016 Corporate Responsibility Report. This fourth annual report provides a comprehensive account of Kimco’s performance on a range of environmental, social and governance aspects.

“Over the past several years, we’ve been hard at work transforming Kimco’s business—reshaping our portfolio, cultivating new leaders from within, and establishing a 2020 Vision that will provide the strategic direction to deliver steady and recurring growth for many years to come,” said Conor Flynn, Chief Executive Officer at Kimco Realty. “During this period we’ve also developed a robust corporate responsibility program, establishing Kimco as an early industry leader and earning recognition from the Dow Jones Sustainability Indices, Global Real Estate Sustainability Benchmark, and others.”

“As we reflect on recent milestones and plan for the future, our team is committed to going beyond expectations to build a next-generation Real Estate Investment Trust,” said David Jamieson, Executive Vice President and Chief Operating Officer. “We understand that we must not only identify challenges, but seek solutions and innovations that will position Kimco for success. Sustainability serves as one of the lenses through which we are evaluating these emerging opportunities in our business.”

2016 Highlights

Kimco’s achievements for 2016 include:

  • Named to the Dow Jones Sustainability North America Index, GRESB Green Star, and Newsweek’s Top Green Companies in the U.S.
  • Achieved a cumulative 18 percent reduction in same-site energy consumption since 2011 by investing in property improvements that are delivering significant operational savings. The company is going beyond existing operations to embed sustainability criteria into the design of new properties and major redevelopments.
  • Completed 170 sustainable improvement projects for a total investment of $10.1 million.
  • Produced 3,564 megawatt hours of solar energy.
  • Diverted approximately a quarter of all operational waste (57,313 metric tons) from landfills or incinerators.
  • Launched initiatives that exemplify Kimco’s commitment to developing its talented team. Kimco’s employees are its most important asset, and the company made significant investments in diversity, education, and wellness programs in 2016.
  • Contributed 476 hours of employee volunteer service through Kimco’s Community Connection program.
  • Continued to build upon its long-term commitment to best practices in areas such as stakeholder engagement, corporate governance, ethics, and external reporting. Kimco recently expanded board- and executive-level involvement in its corporate responsibility program, and has also published a comprehensive ESG (environmental, social and governance) policy to clearly articulate program governance to external audiences.

The 34-page Corporate Responsibility Report follows the Global Reporting Initiative’s (GRI) G4 Sustainability Reporting Guidelines. The summary report is intended for all audiences and covers the most relevant content for stakeholders. The report appendix is designed as optional supplemental reading for those stakeholders interested in more detailed GRI indicator data on Kimco’s performance.

About Kimco Realty

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of March 31, 2017, the company owned interests in 517 U.S. shopping centers comprising 84 million square feet of leasable space across 34 states and Puerto Rico. 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.

Contact:
David F. Bujnicki
1-866-831-4297
Senior Vice President
Investor Relations & Strategy

Source: Kimco Realty Corporation

Kimco to assist The SCORE Foundation in the creation of educational services for retail entrepreneurs

NEW HYDE PARK, N.Y., 2017-Feb-15 — /EPR Retail News/ — Kimco Realty Corp. (NYSE:KIM) today (2/13/2017) announced that it has sponsored The SCORE Foundation in the development by SCORE of new educational services focused specifically on entrepreneurs who are starting, operating or managing small businesses in the brick-and-mortar retail, service or restaurant industries. The program and sponsorship align with Kimco’s goals to support its small shop tenant base and to enrich local economies by helping to build and grow small businesses, including veteran, minority and women-owned retailers.

Under this alliance, Kimco will assist SCORE in the creation of educational services benefiting entrepreneurs in the retail, restaurant or service industries. Tenants and prospective tenants who wish to take advantage of the program will have access to a SCORE “concierge service” – a dedicated contact providing tenants an appropriate mentor based on their individual needs and access to SCORE training, counseling and other services that will be available through SCORE’s local chapters throughout the United States or through convenient web-based modules.

“Kimco is thrilled to be working with SCORE to assist small businesses not only in our portfolio, but across the country,” said David Jamieson, Kimco’s Executive Vice President, Asset Management and Operations. “Small shops are part of the fabric of our communities, and it’s vital to local economies that small businesses thrive. We are passionate about doing our part to help.”

“SCORE is teaming up with Kimco so more brick-and-mortar small business owners can have the help they need to find success,” added David Bobbitt, President of The SCORE Foundation and Vice President of Development at SCORE. “We know that small businesses counseled by SCORE mentors have a higher rate of surviving and, indeed, thriving. Brick-and-mortar small business owners face a changing marketplace, yet an experienced SCORE mentor can help them negotiate this new terrain with confidence.”

ABOUT KIMCO

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2016, the company owned interests in 524 U.S. shopping centers comprising 85 million square feet of leasable space across 34 states and Puerto Rico. 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 www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

ABOUT SCORE

Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE’s 10,000+ volunteer business experts provide 350,000+ free small business mentoring sessions, workshops and educational services to clients in 300+ chapters nationwide. In 2015, SCORE volunteers provided 2.2+ million hours to help create more than 45,000 jobs and 55,000 small businesses.

For more information about starting or operating a small business, call 1-800-634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Follow @SCOREMentors on Facebook and Twitter.

Contact:
Jennifer Maisch
516-869-7224
Director, Corporate Communications
jmaisch@kimcorealtay.com

Source: Kimco Realty Corp.