Conor Flynn, CEO of Kimco Realty (NYSE: KIM), sat down for a video interview at Nareit’s REITweek: 2026 Investor Convention in New York, June 1-4.
With simply 0.2% of present procuring middle stock beneath growth, Flynn stated the sector advantages from a uncommon supply-demand imbalance that’s supporting report occupancy ranges and powerful leasing momentum.
Retailers proceed to develop their bodily footprints as shops more and more function vital hubs for success, buyer engagement, and omnichannel operations.
“The availability and demand image is definitely terribly wholesome at this time for procuring facilities, particularly grocery-anchored procuring facilities,” Flynn stated.
Flynn additionally emphasised Kimco’s mixed-use redevelopment technique as a major long-term worth driver. The REIT is unlocking worth from underutilized land inside its procuring middle portfolio, with 14,000 condominium items entitled and greater than 4,000 activated. By integrating multifamily housing into retail facilities, Kimco is creating destination-style environments that command premium condominium rents whereas enhancing retail visitors.
“In case you take a look at our technique of that first ring suburb, that is the place we have seen density actually are available in and fill round our property. And in order that’s why we predict the oil that is buried beneath Kimco is the entitlement upside that we now have,” Flynn stated.
Tenant well being stays sturdy throughout the portfolio, with minimal indicators of economic stress and rising shopper exercise. Kimco reported visitors progress of three% year-over-year, whereas retailers proceed to develop regardless of broader financial uncertainty.
Trying forward, Flynn stated redevelopment stays Kimco’s most tasty capital allocation alternative, supported by the corporate’s strongest-ever stability sheet and investment-grade scores.
