SoDo Slated for Grand Opening Later This Year

ORLANDO, Fla.--(BUSINESS WIRE)--

Kimco Realty Corporation (NYSE: KIM) is on schedule for an October 2008 Grand Opening of SoDo, an urban mixed-use lifestyle center located in Orlando, Florida.

Work is continuing at SoDo, a true urban in-fill, mixed-use development on 20 + acres between Grant and Crystal Lake streets on South Orange Avenue in Orlando. This highly anticipated project, located just south of downtown Orlando, is anchored by SuperTarget, TJ Maxx and 24 Hour Fitness. The development will also include restaurants, additional specialty retail, luxury residential units and state-of-the-art office space, all contained in a pedestrian-friendly atmosphere.

"This is a catalytic project for the redevelopment of Orange Avenue. With places to live, work and play, SoDo is a welcome addition to Orlando's urban core and serves as a gateway to downtown Orlando," says Orlando City Commissioner Patty Sheehan.

Since construction began, the center's owner and developer, Kimco Realty Corporation, has received a great deal of interest from the public who are looking to make SoDo their next place "to be and be seen" in Orlando. With affordable rents and its convenient location to downtown's central business district, hospitals, and residential neighborhoods, many consider SoDo to be the crown jewel of this emerging South Orange area.

"SoDo will provide residents and visitors with a perfect combination of shopping, recreation, and business in one environment, without the hassle of downtown traffic or access to parking", explains Seth Layton, Kimco's Executive Vice President - Florida Region. "SoDo and its village-like setting will be a welcomed addition to the South Orange area."

In addition to restaurants and boutique shops, SoDo will boast over 70,000 square feet of various sized office suites. Morrison Commercial, the office brokerage firm for the project, is accepting reservations for space, which will include free parking. Wood Partners of Orlando, the project's residential developer, will soon begin pre-leasing its 300+ luxury apartments. North American Properties, Inc. serves as a development partner in this joint venture project.

For more retail leasing information about SoDo, contact Susie Hazzi with Kimco Realty Corporation at 407-302-4440. Residential information can be obtained by calling Wood Partners at 407-599-7011. For office leasing, contact Emily Zinaich of Morrison Commercial at 407-219-3500. You can also visit the SoDo website at www.sodo-orlando.com.

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates the nation's largest portfolio of neighborhood and community shopping centers. As of March 31, 2008, the company owned interests in 1,948 properties comprising 180 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico and Chile. Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years. For further information, visit the company's web site at www.kimcorealty.com.

Source: Kimco Realty Corporation

Released May 12, 2008