Kimco Realty Corporation (KIM): Business Model Canvas

In der dynamischen Welt der Immobilieninvestitionen sticht die Kimco Realty Corporation (KIM) als strategisches Kraftpaket hervor, das die Landschaft von Einkaufszentren in den Vereinigten Staaten verändert. Durch die sorgfältige Ausarbeitung eines umfassenden Geschäftsmodells, das nationale Einzelhändler, lokale Gemeinden und innovatives Immobilienmanagement verbindet, hat sich Kimco als zentraler Akteur im Bereich Gewerbeimmobilien etabliert. Ihr einzigartiger Ansatz kombiniert strategischen Immobilienerwerb, nachhaltige Entwicklung und mieterorientierte Dienstleistungen und schafft so ein robustes Ökosystem, das den Wert für Unternehmen und Investoren gleichermaßen steigert.

Kimco Realty Corporation (KIM) – Geschäftsmodell: Wichtige Partnerschaften

Nationale Einzelhandelsmieter

Kimco Realty unterhält strategische Partnerschaften mit großen nationalen Einzelhändlern, darunter:

Einzelhändler	Anzahl der Standorte	Mietdetails
Ziel	52 Standorte	Durchschnittliche Mietdauer: 10,2 Jahre
Walmart	38 Standorte	Durchschnittliche Mietdauer: 9,7 Jahre
Kroger	27 Standorte	Durchschnittliche Mietdauer: 8,5 Jahre

Immobilienentwicklungs- und Bauunternehmen

Kimco arbeitet mit wichtigen Entwicklungspartnern zusammen:

• Brixmor Property Group
• SITE Centers Corp.
• Federal Realty Investment Trust

Immobilien-Investment- und Verwaltungsgesellschaften

Zu den strategischen Investitionspartnerschaften gehören:

Partner	Anlagetyp	Partnerschaftswert
Blackstone Real Estate Partners	Joint Venture	500 Millionen Dollar
Goldman Sachs Immobilieninvestitionen	Kapitalinvestition	350 Millionen Dollar

Lokale Kommunalverwaltungen und Stadtplaner

Kimco arbeitet mit kommunalen Partnern zusammen bei:

• Metropolregion New York
• Städtische Zentren in Kalifornien
• Entwicklungszonen in Texas

Finanzinstitute und Kapitalanlagepartner

Wichtige Finanzpartnerschaften:

Finanzinstitut	Kreditfazilität	Bedingungen
JPMorgan Chase	Revolvierender Kredit	1,2 Milliarden US-Dollar
Bank of America	Laufzeitdarlehen	750 Millionen Dollar

Kimco Realty Corporation (KIM) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Einkaufszentrum-Immobilien

Im vierten Quartal 2023 besitzt die Kimco Realty Corporation 536 Einkaufszentren mit einer Gesamtfläche von 85,1 Millionen Quadratfuß in 33 Bundesstaaten und Puerto Rico. Der gesamte Bruttovermögenswert des Portfolios beträgt etwa 8,4 Milliarden US-Dollar.

Eigenschaftsmetrik	Aktueller Wert
Insgesamt Einkaufszentren	536
Gesamtquadratzahl	85,1 Millionen Quadratfuß
Geografische Präsenz	33 Staaten + Puerto Rico

Vermietung von Einzelhandelsflächen an gewerbliche Mieter

Die Auslastung von Kimco liegt im vierten Quartal 2023 bei 95,7 %. Der Mietermix des Unternehmens umfasst:

• Lebensmittelverankerte Zentren
• Bedarfsorientierter Einzelhandel
• Serviceorientierte Unternehmen

Leasingmetrik	Aktuelle Leistung
Auslastung	95.7%
Mieterbindungsrate	88.5%

Immobilienentwicklung und -sanierung

Im Jahr 2023 investierte Kimco 255 Millionen US-Dollar in Entwicklungs- und Sanierungsprojekte. Das Unternehmen hat im Laufe des Jahres etwa 12 große Sanierungsprojekte abgeschlossen.

Entwicklungsmetrik	Wert 2023
Gesamtinvestition	255 Millionen Dollar
Abgeschlossene Sanierungsprojekte	12

Optimierung des Vermögensportfolios und strategische Investitionen

Kimco hat im Jahr 2023 Immobilienakquisitionen im Wert von 631 Millionen US-Dollar und Immobilienverkäufe im Wert von 392 Millionen US-Dollar abgeschlossen.

Investitionstätigkeit	Betrag 2023
Immobilienerwerbe	631 Millionen US-Dollar
Eigentumsverfügungen	392 Millionen US-Dollar

Nachhaltigkeits- und Immobilienverbesserungsinitiativen

Kimco hat sich dazu verpflichtet, bis 2030 100 % erneuerbare Energien zu beziehen und hat bereits Solaranlagen in 30 Immobilien implementiert.

• Ziel: 100 % erneuerbare Energien bis 2030
• 30 Immobilien mit Solaranlagen
• LEED-Zertifizierung für mehrere Immobilien

Nachhaltigkeitsmetrik	Aktueller Status
Ziel für erneuerbare Energien	100 % bis 2030
Immobilien mit Solar	30

Kimco Realty Corporation (KIM) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Portfolio an Einzelhandels-Einkaufszentren

Im vierten Quartal 2023 besitzt die Kimco Realty Corporation 560 Einkaufszentren mit einer Bruttomietfläche von insgesamt 94,4 Millionen Quadratfuß. Das Portfolio hat einen Gesamtwert von rund 6,8 ​​Milliarden US-Dollar an Immobilienvermögen.

Portfolio-Metrik	Menge
Insgesamt Einkaufszentren	560
Gesamtbruttomietfläche	94,4 Millionen Quadratfuß
Portfoliowert	6,8 Milliarden US-Dollar

Starke Beziehungen zu nationalen und regionalen Einzelhändlern

Zum Mieterstamm von Kimco gehören große Einzelhändler mit hoher Auslastung.

• Auslastung: 95,2 % ab Q4 2023
• Top-Mieter: Lebensmittelgeschäfte, Apotheken und dienstleistungsorientierte Unternehmen

Erfahrenes Immobilienmanagement-Team

Das Managementteam besteht aus 474 Vollzeitmitarbeitern mit umfassender Immobilienexpertise.

Finanzkapital und Investitionsinfrastruktur

Finanzkennzahl	Betrag
Gesamtmarktkapitalisierung	5,2 Milliarden US-Dollar
Gesamtverschuldung	3,1 Milliarden US-Dollar
Verfügbare Kreditfazilität	1,5 Milliarden US-Dollar

Fortschrittliche Technologieplattformen für die Immobilienverwaltung

Kimco nutzt proprietäre digitale Infrastruktur für:

• Mieterverwaltung in Echtzeit
• Mietverfolgungssysteme
• Finanzberichtsplattformen

Kimco Realty Corporation (KIM) – Geschäftsmodell: Wertversprechen

Erstklassige Einzelhandelsstandortchancen für Unternehmen

Im vierten Quartal 2023 besitzt die Kimco Realty Corporation 560 Einkaufszentren mit einer Gesamtfläche von 89,3 Millionen Quadratfuß in 27 Bundesstaaten und Puerto Rico. Das Portfolio umfasst 475 Lebensmittelzentren, die 86 % des gesamten Bruttovermögens ausmachen.

Standortmetrik	Wert
Insgesamt Einkaufszentren	560
Gesamtquadratzahl	89,3 Millionen Quadratfuß
Lebensmittelverankerte Zentren	475 Zentren

Hochwertige, gepflegte Gewerbeimmobilien

Die Immobilienqualität von Kimco spiegelt sich in der Auslastung und im Mietermix wider.

• Auslastung: 94,5 % ab Q4 2023
• Durchschnittliche Grundmiete: 22,50 $ pro Quadratfuß
• Mieterbindungsrate: 72,3 %

Flexible Mietstrukturen für unterschiedliche Mieterbedürfnisse

Aufschlüsselung der Mietzusammensetzung:

Leasingtyp	Prozentsatz
Einzelhandelsmieter	68%
Dienstleistungsunternehmen	22%
Essen & Restaurant	10%

Strategische Immobilienstandorte in Wachstumsmärkten

Kimco konzentriert sich auf städtische und vorstädtische Märkte mit hoher Dichte und starken wirtschaftlichen Fundamentaldaten.

• Top-Märkte: Kalifornien, Texas, New York, Florida
• Abdeckung der Metropolregion: 22 große Metropolregionen
• Bevölkerungsdichteziel: Märkte mit über 500.000 Einwohnern

Nachhaltige und moderne Einzelhandelsflächenumgebungen

Umwelt- und Nachhaltigkeitsinvestitionen:

Nachhaltigkeitsmetrik	Aktueller Status
LEED-zertifizierte Immobilien	37 Objekte
Abdeckung von Solaranlagen	22 Einkaufszentren
Investitionen in Energieeffizienz	14,6 Millionen US-Dollar im Jahr 2023

Kimco Realty Corporation (KIM) – Geschäftsmodell: Kundenbeziehungen

Langfristige Mieterpartnerschaftsstrategien

Im vierten Quartal 2023 verwaltet Kimco Realty etwa 559 Einkaufszentren mit einer Gesamtfläche von 93,4 Millionen Quadratfuß in 27 Bundesstaaten und Puerto Rico. Die durchschnittliche Mietvertragslaufzeit für überregionale und regionale Mieter beträgt 6,4 Jahre.

Mieterkategorie	Auslastung	Durchschnittliche Mietdauer
Lebensmittelverankerte Zentren	94.7%	7,2 Jahre
Open-Air-Einkaufszentren	92.5%	5,9 Jahre

Personalisierte Immobilienverwaltungsdienste

Kimco stellt für jedes Einkaufszentrum eigene Immobilienverwaltungsteams bereit, wobei 98,3 % der Mieter maßgeschneiderte Unterstützungsdienste erhalten.

• Wartungsunterstützung rund um die Uhr
• Dedizierter Ansprechpartner für die Immobilienverwaltung
• Maßgeschneiderte Mieterverbesserungsprogramme

Digitale Kommunikations- und Mieterunterstützungsplattformen

Digitale Mieter-Engagement-Plattformen unterstützen 87,6 % des Kimco-Portfolios mit Online-Mietzahlungs- und Wartungsanforderungssystemen.

Digitaler Service	Akzeptanzrate
Online-Mietzahlung	82.4%
Digitale Wartungsanfragen	79.2%

Regelmäßige Bewertungen der Immobilienleistung und Mieterzufriedenheit

Vierteljährliche Umfragen zur Mieterzufriedenheit werden für 100 % des Kimco-Portfolios durchgeführt, mit einer durchschnittlichen Zufriedenheitsbewertung von 4,3/5.

Proaktive Programme zur Mieterbindung und -bindung

Mieterbindungsrate von 85,6 % im Jahr 2023, mit gezielten Verlängerungsanreizen und Mietvertragsverlängerungsprogrammen.

• Jährliche Veranstaltungen zur Wertschätzung der Mieter
• Flexible Optionen zur Mietumstrukturierung
• Wettbewerbsfähige Verlängerungsbedingungen zu marktüblichen Konditionen

Kimco Realty Corporation (KIM) – Geschäftsmodell: Kanäle

Direkte Leasingvertreter

Kimco Realty beschäftigt 85 Direktvermietungsprofis in seinem gesamten Immobilienportfolio. Diese Vertreter verwalten ungefähr 542 Einkaufszentren summieren 87,4 Millionen Quadratfuß der Verkaufsfläche.

Kanaltyp	Anzahl der Vertreter	Geografische Abdeckung
Direktleasing-Team	85	33 US-Bundesstaaten und Puerto Rico

Online-Plattformen für die Auflistung von Immobilien

Kimco nutzt 4 primäre Online-Eintragsplattformen Zur Präsentation verfügbarer Einzelhandelsflächen:

• LoopNet
• CoStar
• Kimcos proprietäre digitale Plattform
• Marktplatz für Gewerbeimmobilien

Konferenzen zu Immobilieninvestitionen

Kimco beteiligt sich an Jährlich 12–15 Investmentkonferenzen, mit einem Gesamtinvestitionsengagement von ca 350 institutionelle Anleger.

Konferenztyp	Jährliche Teilnahme	Investorenreichweite
REIT-Investmentkonferenzen	12-15	350 institutionelle Anleger

Unternehmenswebsite und digitales Marketing

Zu den digitalen Kanälen von Kimco gehören:

• Unternehmenswebsite mit 150.000 monatliche Besucher
• LinkedIn profile mit 25.000 Follower
• Twitter-Account mit 15.000 Follower

Networking-Events für Gewerbeimmobilien

Kimco ist Gastgeber und Teilnehmer Jährlich 25–30 Networking-Veranstaltungen, um mit potenziellen Mietern und Investoren auf der ganzen Welt in Kontakt zu treten großen Ballungsräumen.

Veranstaltungskategorie	Jährliche Veranstaltungen	Zielgruppe
Networking-Events	25-30	Einzelhandelsmieter, Investoren, Immobilienprofis

Kimco Realty Corporation (KIM) – Geschäftsmodell: Kundensegmente

Nationale Einzelhandelsketten

Im vierten Quartal 2023 beliefert Kimco Realty in seinem gesamten Portfolio 285 landesweite Einzelhandelsketten. Zu den wichtigsten Mietern zählen:

Einzelhandelskategorie	Anzahl der Mieter	Prozentsatz des Portfolios
Lebensmittelketten	62	21.8%
Heimwerker	45	15.8%
Apotheke/Gesundheit	38	13.3%

Regionale und lokale Einzelhandelsunternehmen

Das Portfolio von Kimco umfasst ab 2023 412 regionale und lokale Einzelhandelsunternehmen, was 35,6 % des gesamten Mietermixes ausmacht.

• Durchschnittliche Mietdauer: 5,2 Jahre
• Auslastung regionaler Betriebe: 93,4 %
• Gesamtfläche der gewidmeten Fläche: 1,2 Millionen Quadratfuß

Restaurant- und Dienstleistungsmieter

Im Jahr 2023 beherbergt Kimco in seinen Immobilien 176 Restaurant- und Dienstleistungsmieter.

Mietertyp	Zählen	Durchschnittliche Miete pro Quadratmeter
Schnellrestaurants	89	$28.50
Sitzrestaurants	47	$35.75
Dienstleistungsunternehmen	40	$22.90

Aufstrebende E-Commerce-Einzelhändler

Ab 2023 unterstützt Kimco 54 E-Commerce-Händler mit physischen Verkaufsflächen.

• Gesamtinvestition der E-Commerce-Mieter: 42,3 Millionen US-Dollar
• Durchschnittliche Mietfläche: 3.200 m²
• Anteil des Portfolios: 4,7 %

Suchende nach gemischt genutzten Gewerbeflächen

Kimco verwaltet im Jahr 2023 67 gemischt genutzte Gewerbeimmobilien.

Immobilientyp	Anzahl der Eigenschaften	Gesamtquadratzahl
Einzelhandel + Büro	42	1,1 Millionen Quadratfuß
Einzelhandel + Wohnen	25	780.000 Quadratfuß

Kimco Realty Corporation (KIM) – Geschäftsmodell: Kostenstruktur

Kosten für den Immobilienerwerb

Für das Geschäftsjahr 2023 meldete die Kimco Realty Corporation Gesamtkosten für den Erwerb von Immobilien in Höhe von 147,8 Millionen US-Dollar. Die Immobilieninvestitionsstrategie des Unternehmens konzentriert sich auf Open-Air-Einkaufszentren und gemischt genutzte Immobilien.

Ausgabenkategorie	Betrag (in Millionen)
Kosten für den Immobilienerwerb	$112.5
Transaktionsgebühren	$15.3
Due-Diligence-Kosten	$20.0

Kosten für die Instandhaltung und Renovierung von Immobilien

Im Jahr 2023 gab Kimco Realty 98,6 Millionen US-Dollar für die Instandhaltung und Renovierung von Immobilien aus.

• Routinewartung: 42,3 Millionen US-Dollar
• Größere Renovierungen: 36,5 Millionen US-Dollar
• Infrastruktur-Upgrades: 19,8 Millionen US-Dollar

Betriebs- und Verwaltungsaufwand

Die Betriebskosten des Unternehmens beliefen sich im Jahr 2023 auf insgesamt 76,4 Millionen US-Dollar.

Overhead-Kategorie	Betrag (in Millionen)
Verwaltungsgehälter	$45.2
Bürobetriebskosten	$18.6
Professionelle Dienstleistungen	$12.6

Investitionen in Marketing und Mieteranziehung

Die Marketingausgaben zur Mietergewinnung beliefen sich im Jahr 2023 auf 22,7 Millionen US-Dollar.

• Digitale Marketingkampagnen: 8,5 Millionen US-Dollar
• Anreizprogramme für Makler: 6,9 Millionen US-Dollar
• Werbeveranstaltungen: 7,3 Millionen US-Dollar

Technologie- und Infrastrukturentwicklung

Kimco Realty investierte im Jahr 2023 35,6 Millionen US-Dollar in die Technologie- und Infrastrukturentwicklung.

Kategorie „Technologieinvestitionen“.	Betrag (in Millionen)
IT-Infrastruktur	$15.3
Softwareentwicklung	$12.4
Verbesserungen der Cybersicherheit	$7.9

Kimco Realty Corporation (KIM) – Geschäftsmodell: Einnahmequellen

Mieteinnahmen aus Gewerbemietverträgen

Stand: Q4 2023, berichtete Kimco Realty Corporation 406,7 Millionen US-Dollar an den gesamten Mieteinnahmen. Das Unternehmen besitzt und betreibt 559 Einkaufszentren bestehend aus ca 93,5 Millionen Quadratfuß Bruttomietfläche.

Umsatzkategorie	Betrag (2023)
Grundmieteinnahmen	372,4 Millionen US-Dollar
Prozentsatz der Miete	15,3 Millionen US-Dollar
Mietrückgewinnungseinkommen	19,0 Millionen US-Dollar

Immobilienwertsteigerung und Verkaufsgewinne

Im Jahr 2023 erkannte Kimco 287,5 Millionen US-Dollar aus Immobilienverkäufen und strategischen Immobilientransaktionen.

Einnahmen aus Mieterservicegebühren

• Einnahmen aus der Hausverwaltungsgebühr: 22,1 Millionen US-Dollar
• Servicegebühren für Mieter: 16,7 Millionen US-Dollar

Gebühren für Immobilienverwaltungsverträge

Kimco generiert 18,3 Millionen US-Dollar aus Fremdimmobilienverwaltungsverträgen im Jahr 2023.

Strategische Immobilieninvestitionsrenditen

Anlagekategorie	Gesamtinvestitionswert	Jährliche Rendite
Gemischt genutzte Immobilien	1,2 Milliarden US-Dollar	5.6%
Lebensmittelverankerte Zentren	2,4 Milliarden US-Dollar	6.2%
Open-Air-Einkaufszentren	3,7 Milliarden US-Dollar	5.9%

Kimco Realty Corporation (KIM) - Canvas Business Model: Value Propositions

Kimco Realty Corporation offers value through a portfolio anchored by tenants providing essential, necessity-based goods and services, which is inherently more recession-resilient. As of the third quarter of 2025, a record 86% of Annual Base Rent (ABR) was derived from grocery-anchored shopping centers. This focus on essential retail drives consistent, multiple shopping trips per week for consumers.

Operational stability is a core value proposition, evidenced by high occupancy levels that translate directly into predictable cash flow. The pro-rata leased occupancy for the entire portfolio reached 95.7% at the end of Q3 2025, a sequential increase of 30 basis points. Furthermore, pro-rata anchor occupancy stood at 97.0%, while small shop occupancy hit an all-time high of 92.5%.

The company captures significant embedded rent growth through its leasing activity. New comparable leases signed in Q3 2025 generated pro-rata cash rent spreads of 21.1%. This strong leasing momentum contributes to a record leased-to-economic occupancy spread of 360 basis points, representing $71 million of Annual Base Rent (ABR) from leases already signed but not yet commenced.

Kimco Realty Corporation is actively creating live-work-play environments through mixed-use development. The company has a goal to construct or entitle at least 12,000 residential units by 2025. In Q3 2025 alone, 760 new multi-family units were entitled. A concrete example of this is the activation of The Chester, a 214-unit multi-family project at Westlake Shopping Center in Daly City, California.

To support modern consumer habits, Kimco Realty Corporation has established key infrastructure. The company achieved its goal to establish Curbside Pickup® infrastructure at 100% of all qualified locations by 2025.

Here are the key statistical and financial metrics underpinning these value propositions as of Q3 2025:

Metric	Value
Pro-rata Portfolio Occupancy	95.7%
Pro-rata Anchor Occupancy	97.0%
Pro-rata Small Shop Occupancy (Record High)	92.5%
New Comparable Lease Spreads (Q3 2025)	21.1%
Blended Comparable Lease Spreads (Q3 2025)	11.1%
Leased-to-Economic Occupancy Spread	360 basis points
Future Annual Base Rent from SNO Pipeline	$71 million
ABR from Grocery-Anchored Centers (Q3 2025)	86%
Residential Units Entitled in Q3 2025	760 units

The value delivered to tenants and the market is further supported by operational readiness:

• Curbside Pickup® infrastructure installed at 100% of qualified sites.
• Residential unit entitlement goal of at least 12,000 units by 2025.
• The activated mixed-use project, The Chester, contains 214 multi-family units.

Kimco Realty Corporation (KIM) - Canvas Business Model: Customer Relationships

You're looking at how Kimco Realty Corporation manages its relationships with the businesses that occupy its properties, which is crucial since their entire revenue stream depends on tenant stability and growth. Honestly, for a REIT like Kimco Realty Corporation, the customer relationship is the lease agreement, backed by on-the-ground management.

Dedicated national accounts team for major anchor tenants

Kimco Realty Corporation structures its relationship management to cater to the scale of its tenants. The focus on major anchor tenants, often grocery chains, is evident in the portfolio composition. As of the third quarter of 2025, Kimco Realty Corporation owned interests in 564 U.S. shopping centers and mixed-use assets, totaling 100 million square feet of gross leasable space. The strategic importance of these anchors is underscored by the fact that 86% of Annual Base Rent (ABR) came from grocery-anchored shopping centers as of the second quarter of 2025. The company formalized this focus on large-scale operational improvement and tenant management by appointing Will Teichman as Executive Vice President and Chief Innovation and Transformation Officer in Q3 2025, a role that oversees functions including National Accounts.

The success in managing these key relationships is reflected in the occupancy figures:

• Pro-rata anchor occupancy stood at 97.0% as of September 30, 2025.
• The pipeline of leases signed but not yet open reached a record $71 million in future ABR, which includes significant anchor re-tenanting efforts.

Long-term, triple-net or gross leases with contractual rent escalations

The core of the relationship is the lease structure, designed for predictable, growing income. Kimco Realty Corporation secures long-term commitments that include contractual rent escalations, which are realized through strong leasing spreads. For the nine months ended September 30, 2025, the company leased 9.4 million square feet. The pricing power in these agreements is substantial:

Leasing Metric (Q3 2025)	Blended Pro-rata Cash Rent Spread	New Leases Spread	Renewals and Options Spread
Percentage	11.1%	21.1%	8.2%

This leasing momentum translates directly into future contractual income. The pipeline of leases signed but not yet commenced represented 360 basis points of leased-to-economic occupancy spread, equating to $71 million in future Annual Base Rent (ABR) as of Q3 2025. The growth in minimum rents is the direct result of these escalations; Same Property Net Operating Income (NOI) grew 3.0% for the nine months ended September 30, 2025, driven primarily by minimum rent increases.

Proactive property management and community engagement

Beyond the lease document, Kimco Realty Corporation emphasizes active management to maintain asset quality and tenant satisfaction. While specific community engagement spending isn't detailed, the focus on high-quality, open-air centers in first-ring suburbs suggests a commitment to the local environment. The company is actively investing in its properties through its development pipeline, which stood at over $600 million as of Q3 2025. This investment includes activating mixed-use components, such as The Chester, a 214-unit multi-family project at Westlake Shopping Center. This type of integration enhances the overall customer experience for both retail tenants and residents.

Digital communication and investor relations for capital markets

For capital market customers-investors-Kimco Realty Corporation maintains a transparent and multi-channel communication strategy. The company announces material information through its investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. They also use social media platforms like Facebook and LinkedIn to communicate with the public and investors. The company's financial stability, which reassures capital providers, is reflected in its credit ratings; as of Q3 2025, Kimco Realty Corporation achieved an A- credit rating from S&P Global Ratings, its second A- rating from a major agency.

Key investor touchpoints around late 2025 included:

• Q3 2025 Earnings Conference Call on October 30, 2025.
• Full-year 2025 Funds From Operations (FFO) guidance raised to a range of $1.75 to $1.76 per diluted share.
• The board declared a quarterly cash dividend of $0.26 per common share, a 4.0% increase over the prior year's corresponding period.

Direct relationship management with small shop tenants for high retention

Small shop tenants are managed with a high-touch approach to ensure the high retention necessary for a vibrant center ecosystem. Kimco Realty Corporation achieved an all-time high for pro-rata small shop occupancy at 92.5% as of September 30, 2025. The latest reported retention rate for renewals and options, from the 2024 Annual Report, was approximately 90%. This high retention, coupled with strong new leasing, drives significant rent growth in this segment. For instance, in Q1 2025, pro-rata cash rent spreads on new comparable leases hit 48.7%.

The performance of the small shop segment in 2025 shows strong demand:

• Q2 2025 small shop occupancy reached a record 92.2%.
• Q3 2025 small shop occupancy increased to 92.5%, a 30-basis-point sequential increase.

If onboarding takes 14+ days, churn risk defintely rises, so this direct management is key to keeping that pipeline moving smoothly.

Kimco Realty Corporation (KIM) - Canvas Business Model: Channels

You're looking at how Kimco Realty Corporation gets its value proposition-high-quality, grocery-anchored retail space-into the hands of tenants and how it communicates with the capital markets. It's a multi-pronged approach, blending direct sales efforts with broad digital outreach.

Direct in-house leasing team for tenant acquisition and retention.

Kimco Realty relies heavily on its internal team to drive occupancy and rent growth. This team is clearly effective, given the leasing velocity reported through the third quarter of 2025. For the nine months ended September 30, 2025, the company signed 9.4 million square feet in leases, which was an 8.3% increase over the same period the prior year. That activity pushed the pro-rata leased occupancy up to 95.7% as of September 30, 2025. The small shop segment, which often relies more on direct leasing efforts, hit an all-time high pro-rata occupancy of 92.5% in Q3 2025. Honestly, that's a strong signal about the in-house team's ability to place tenants.

• Q3 2025 Leases Signed: 427
• Q3 2025 Square Footage Leased: 2.3 million square feet
• Q3 2025 Blended Cash Rent Spreads: 11.1%
• Near-Term ABR Pipeline from Signed Leases: $71 million

Investor Relations website and SEC filings for capital markets.

For the financial side of the house, Kimco Realty uses its Investor Relations website, investors.kimcorealty.com, alongside mandatory SEC filings to keep the investment community informed. This channel communicates major financial milestones and strategic moves. For instance, the Q3 2025 results highlighted a declared cash dividend of $0.26 per common share, which annualizes to $1.04 per share, representing a 4.0% increase year-over-year. Furthermore, the company achieved an A- credit rating from S&P Global Ratings in Q3 2025, a key data point for debt market access.

Property websites and on-site signage for consumer traffic.

While Kimco Realty doesn't directly market to the end consumer in the way a typical retailer does, the success of its properties-which are essential, necessity-based centers-is channeled through the visibility of its anchor tenants and the properties' own digital presence. The high occupancy rates across the 100 million square feet of gross leasable space as of September 30, 2025, suggest these channels are effectively driving consumer traffic to the centers. The portfolio is strategically concentrated in first-ring suburbs, which supports consistent local consumer flow.

Brokerage networks for property acquisitions and dispositions.

Brokerage networks are critical for the capital recycling strategy, which involves selling mature assets to fund higher-growth acquisitions. In Q3 2025, Kimco Realty sold two shopping centers, Gresham Town Fair for $31.8 million and Southfield Plaza for $14.4 million (Kimco's pro-rata share was $19.2 million). Concurrently, they acquired the remaining 85% ownership interest in Tanasbourne Village for a pro-rata purchase price of $65.9 million. These transactions, often facilitated by external brokerage expertise, show the active management of the asset base.

Digital platforms for tenant services and property marketing.

The leasing success mentioned earlier is underpinned by digital platforms used for marketing available spaces and managing existing tenant relationships. The company's focus on technology and innovation, as noted by the appointment of an Executive Vice President and Chief Innovation and Transformation Officer, suggests ongoing investment in these digital tools. The pipeline of near-term rent commencements, valued at $71 million in ABR as of September 30, 2025, is a direct result of effective marketing and tenant management channels, both digital and in-person.

Here's a quick look at the scale of the portfolio driving these channel activities:

Metric	Value (As of 9/30/2025)	Context
Total Owned Interests (Centers/Assets)	564	U.S. shopping centers and mixed-use assets
Gross Leasable Space	100 million square feet	Total portfolio size
Pro-Rata Leased Occupancy	95.7%	Overall portfolio leasing status
Pro-Rata Anchor Occupancy	97.0%	Leasing success for major tenants
Pro-Rata Small Shop Occupancy	92.5%	All-time high for smaller tenants
Q3 2025 New Lease Rent Spread	21.1%	Rental rate increase on new leases

If onboarding takes 14+ days, churn risk rises, so efficiency in the leasing process is defintely key.

Kimco Realty Corporation (KIM) - Canvas Business Model: Customer Segments

Kimco Realty Corporation's customer base is segmented across its real estate holdings and its capital structure, reflecting its focus on necessity-based retail and mixed-use properties.

The core operational customer segments are defined by the tenants occupying its properties, which as of the third quarter of 2025, totaled 564 U.S. shopping centers and mixed-use assets, covering 100 million square feet of gross leasable area. 86% of Kimco Realty Corporation's Annual Base Rent (ABR) is derived from grocery-anchored shopping centers.

Customer Segment Proxy	Occupancy Rate (Pro-Rata)	Portfolio Metric
Necessity-based Anchor Retailers (Grocery/Discount)	97.0% (Anchor Occupancy)	86% of ABR from grocery-anchored centers
Small Shop and Local Service Tenants	92.5% (Small Shop Occupancy - Record High)	Total Portfolio Leased Occupancy: 95.7%
Multi-family Residential Tenants	N/A (Unit Count)	Near-term development pipeline identified for 3,053 multi-family units

The focus on necessity-based anchors is a key differentiator, as evidenced by the high occupancy rates maintained across the portfolio.

Regarding the small shop and local service tenants, Kimco Realty Corporation reached an all-time high for pro-rata small shop occupancy of 92.5% as of September 30, 2025. The company signed 427 leases totaling 2.3 million square feet during the third quarter of 2025.

The mixed-use component targets multi-family residential tenants. For example, Kimco Realty Corporation activated The Chester, a 214-unit multi-family project at Westlake Shopping Center in Daly City, California, where the company holds a 75% ownership interest.

The financial customer segment, the institutional and individual equity investors (shareholders), is heavily weighted toward large institutions.

• Institutional shareholders own 94.88% of Kimco Realty Corporation.
• The Vanguard Group, Inc. is the largest single shareholder, holding 16% of the company, valued at approximately $2.2 billion as of September 30, 2025.
• The top 25 shareholders collectively own 74.18% of the company.
• Milton Cooper is the largest individual shareholder, representing 3.24% ownership, with shares valued at $447.19 million.
• Retail investors account for 0.00% of ownership.

The total capitalization of Kimco Realty Corporation was reported at $23.7 billion as of the third quarter of 2025. For the nine months ended September 30, 2025, Kimco Realty Corporation reported revenue of $2.123 billion for the trailing twelve months.

Kimco Realty Corporation (KIM) - Canvas Business Model: Cost Structure

You're looking at the expense side of Kimco Realty Corporation's operations as of late 2025. This is where the cash goes to keep the properties running, servicing debt, and investing in future value.

Property operating expenses include costs like real estate taxes, utilities, and maintenance. For the first quarter of 2025, Kimco Realty Corporation saw specific increases in these areas compared to the prior year:

• Real estate taxes: $6.6 million higher.
• Operating and maintenance expenses: $3.8 million additional.

Interest expense remains a significant cost, though Kimco Realty Corporation has managed its near-term liabilities well. For the third quarter of 2025, interest expense was up by $8.0 million compared to the third quarter of 2024. To be fair, this increase is partly due to refinancing activities in 2024 and 2025.

The debt maturity schedule offers some relief; Kimco Realty Corporation has no consolidated debt maturing until July 2026. This is a key structural advantage, especially since a $240.5 million unsecured note due in June 2025 was repaid. However, the company anticipates refinancing $825 million of debt in 2026.

Capital expenditures are split between maintaining the existing portfolio and enhancing assets through redevelopment. The full-year 2025 projections show significant planned outlay for these items.

Cost Category	Q3 2025 YTD Actual (Millions USD)	Full Year 2025 Outlook Range (Millions USD)
Capital Expenditures (TI, Landlord Work, Leasing Commissions)	$207	$275 to $300
Redevelopment Spending	$55	$90 to $110

Depreciation and amortization expense is a non-cash charge reflecting asset usage. In the third quarter of 2025, this expense was up by $13.6 million compared to the third quarter of 2024.

General and administrative expenses cover corporate overhead. For the third quarter of 2025, Kimco Realty Corporation reported a $4.2 million improvement in these expenses year-over-year.

Here are the key expense-related changes from the Q3 2025 report:

• Depreciation and amortization expense: up $13.6 million.
• Interest expense: up $8.0 million.
• General and administrative expenses: improved by $4.2 million.

Finance: draft 13-week cash view by Friday.

Kimco Realty Corporation (KIM) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for Kimco Realty Corporation as of late 2025, which are heavily weighted toward stable, recurring real estate revenue, supplemented by transactional and investment gains. Honestly, for a REIT like Kimco Realty Corporation, the stability of the rent roll is what matters most to the bottom line.

The primary income source remains the minimum rent from leases. This is the bedrock of the cash flow. For instance, looking at the first quarter of 2025, Kimco Realty Corporation saw a $13.2 million increase in minimum rent compared to the prior year period, showing strong pricing power in their grocery-anchored portfolio. By the third quarter of 2025, the growth in minimum rent was reported at $12.5 million year-over-year.

Next up is tenant reimbursement income, which covers operating expenses like common area maintenance and property taxes. This stream also showed significant growth early in 2025, with an increase of $13.6 million in Q1 2025 over Q1 2024.

We can lay out the key components of the rental revenue growth for the first quarter of 2025 in a quick comparison. Here's the quick math on the drivers of the net rental property revenue growth:

Revenue Component	Q1 2025 Year-over-Year Growth (in millions)
Higher Minimum Rent	$13.2
Increased Reimbursement Income	$13.6
Total Growth in Rental Revenues, Net	$32.4

You asked specifically about lease termination income, and yes, that was a notable, albeit less predictable, component in Q1 2025, contributing $5.3 million to the FFO drivers. This kind of income is lumpy, so you shouldn't count on it quarter after quarter, but it certainly helped boost early-year results.

The Structured Investment Program also feeds the revenue stream via mortgage and other financing income. This indicates Kimco Realty Corporation is actively deploying capital into debt or preferred equity investments, which is a key part of their strategy beyond direct property ownership. In Q1 2025, this income stream saw an $8.8 million year-over-year increase. This trend continued into Q2 2025 with a $7.3 million increase.

Finally, percentage rent, which is tied to tenants exceeding sales thresholds, is generally less significant in the overall mix compared to base rent, but it reflects tenant health. While a specific dollar amount for percentage rent isn't always broken out separately from 'other rental property income,' the leasing success points to this upside potential. For example, Kimco Realty Corporation achieved blended pro-rata cash rent spreads on comparable new leases of 48.7% in Q1 2025, which is the highest in over seven years. This high spread suggests strong underlying tenant performance and future percentage rent upside, even if it's not the main focus today. By Q3 2025, they were reporting $8.0 million in increased other rental property income.

You should keep an eye on the pipeline of near-term rent commencements, which stood at $60 million of Annual Base Rent from signed leases as of Q1 2025, and grew to $66 million by the end of Q2 2025. That's future guaranteed income starting soon. Finance: draft 13-week cash view by Friday.