Kimco Acquires Stake in Orleans Gardens Shopping Centre in Ottawa

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)-- Kimco Realty Corporation (NYSE:KIM) today announced that it has purchased a 50 percent ownership interest in Orleans Gardens Shopping Centre in Ottawa, Ontario, for $16.4 million Canadian dollars (USD $16.5 million). This grocery-anchored property is part of a new pari passu joint venture with the center’s existing owner, North American Property Group, and marks Kimco’s sixth retail center in Ottawa, bringing the company’s Canadian shopping center portfolio to 64 properties.

Orleans Gardens S.C. is located at the intersection of Orleans Boulevard and Jeanne D’Arc Boulevard in an established residential neighborhood in Orleans, a fast-growing eastern suburb of Ottawa. The 110,000-square-foot center is anchored by two Canadian retailers: a 49,000-square-foot Loblaws Supermarket, and an 11,000-square-foot Rexall Pharma Plus drugstore. The property benefits from the suburb’s expanding residential and commercial population. There are approximately 110,000 residents within a 3-mile radius, and the average household income of $111,000 for this same area is one-third higher than the Canadian national average.

About Kimco

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 December 31, 2011, the company owned interests in 946 shopping centers comprising 138 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 www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
Vice President, Investor Relations and Corporate Communications
dbujnicki@kimcorealty.com

Source: Kimco Realty Corporation

Released March 21, 2012