Kimco Realty Acquires or Increases Equity Interests in Eight Retail Properties Totaling $221 million

Kimco Realty Acquires or Increases Equity Interests in Eight Retail Properties Totaling $221 million in the First Quarter of 2013; Closes SUPERVALU Investment.

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)-- Kimco Realty Corp. (NYS: KIM) , North America's largest owner and operator of neighborhood and community shopping centers, today reported its first quarter 2013 transaction activities. Highlights of the quarter include the acquisition or increased equity investment in eight retail properties and participation in a consortium that acquired from SUPERVALU Inc., the operations of its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market banners comprising 877 grocery locations.

SHOPPING CENTER ACQUISITIONS:

During the first quarter, Kimco acquired six shopping centers and two retail parcels totaling 1.5 million square feet, for approximately $221 million. In addition to obtaining four properties adjacent to or in immediate proximity to existing Kimco shopping centers, first quarter 2013 acquisitions include the company successfully purchasing the remaining interest in three properties from existing joint venture partners and the conversion of a preferred equity investment into a long-term retail joint venture. Opportunistically acquiring equity interests from existing joint venture partners represents a key element of Kimco's strategy. Additional first quarter acquisition details are as follows:

• Wilton River Park / Wilton Executive Campus (Wilton, Conn.)- Kimco recently announced the purchase of Wilton Executive Campus and Shoppes for $42 million. This transaction provides Kimco full control of the 283,000-square-foot grocery-anchored Wilton River Park, which is desirably situated within the upscale market of Lower Fairfield County, Conn. that has an average household income within three miles of $241,000.

• Santee Trolley Square (Santee, Calif.) - Kimco acquired the remaining 55-percent interest from other investors in this 311,000-square-foot power center for a gross purchase price of $98 million. Located in the San Diego suburb of Santee, Calif., this center is 98-percent-occupied and anchored by several prominent national retailers such as T.J.Maxx, PetSmart, Party City, Bed Bath & Beyond, 24 Hour Fitness, Old Navy and a shadow-anchored Target.

• Columbia Crossing II (Columbia, Md.)- Kimco acquired this fully-occupied 101,000-square-foot unencumbered retail center for $21.8 million. Columbia Crossing II is located directly across from Kimco's fully leased Columbia Crossing shopping center and anchored by a 63,000-square-foot Toys "R" Us and 24,000-square-foot REI. Situated within the strong retail Washington-Baltimore corridor, both Columbia Crossing and Columbia Crossing II shopping centers have an average household income within three miles of more than $105,000.

• Putty Hill Plaza (Baltimore, Md.)- The company acquired, from an existing institutional joint venture partner, the remaining 80-percent interest in this 91,000-square-foot center grocery-anchored property for a gross purchase price of $14.2 million. Putty Hill Plaza is located in a densely populated area of more than 135,000 people within three-miles of the center and is anchored by a Giant Food.

• Shops at Kildeer (Kildeer, Ill.) - Kimco purchased, from an existing institutional joint venture partner, the remaining 81-percent interest in this 168,000-square-foot shopping center for a gross purchase price of $32.7 million. Located 30 miles northwest of Chicago in an area that possesses an average household income greater than $108,000, Shops at Kildeer is fully occupied and anchored by Bed Bath & Beyond, Cost Plus, Michaels, Old Navy, Ulta 3 and Earthsport Outfitters.

• Village Commons (Tallahassee, Fla.)- The company acquired the fee interest in an unencumbered grocery-anchored parcel located within its existing Village Commons shopping center for $7.1 million. Kimco now owns the entire 231,000-square-foot complex. This acquisition adds gourmet grocer, The Fresh Market, to the center's existing anchors that include HomeGoods and Stein Mart.

• Roseville Plaza (Roseville, Minn.) - Kimco acquired the fee interest in an unencumbered parcel located in the Minneapolis suburb of Roseville, Minn., through a sale-leaseback transaction for $5.1 million. This property, which will be incorporated into the company's existing Roseville Plaza shopping center, comprises 80,000 square feet and is anchored by Sports Authority and Planet Fitness.

• The Village Shopping Centre (St. John's, Newfoundland) - The company converted its existing preferred equity investment in the property into a pari passu joint venture. Kimco now owns 55.5 percent of the 429,000-square-foot retail property that features more than 80 stores including Bed Bath & Beyond, Urban Planet and GoodLife Fitness.

Also during the quarter, additional investment activity includes the following transactions:

• Kimco Income Fund (KIF) I Joint Venture - Kimco increased its ownership stake in this institutional joint venture from 14.2 percent to 29.8 percent by purchasing a minority partner's interest for $19.9 million. KIF I is a 1.5 million-square-foot portfolio of 12 geographically diverse, high-quality retail properties with pro-rata occupancy of 97 percent with an average base rent of $17.37 per square foot.

• SUPERVALU Inc. - Kimco, through wholly owned subsidiaries, invested a total of $71.3 million for its 15 percent interest in a consortium that is participating in two previously announced transactions with SUPERVALU Inc. The company invested $37.2 million toward the acquisition of the Albertsons, Shaw's, Jewel-Osco, Acme and Star Market banners from SUPERVALU Inc. comprising 877 grocery locations for $3.3 billion. In addition as part of a tender offer, Kimco funded $34.1 million for approximately 8.2 million common shares, representing 3.2 percent of the total shares outstanding, of SUPERVALU Inc.

DISPOSITION ACTIVITY:

In the first quarter of 2013, Kimco sold two shopping centers, totaling 292,000 square feet for a gross sales price of $10.3 million. Currently, the company has 14 retail properties in contract negotiations for approximately $100 million. Also during the first quarter, the company sold a non-retail urban property located in the Bronx, N.Y. for $3.6 million.

ABOUT KIMCO

Kimco Realty Corp. (NYS: 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 Dec. 31, 2012, the company owned interests in 896 shopping centers comprising 131 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.

SAFE HARBOR STATEMENT

The statements in this news release state the company's and management's intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt, or other sources of financing or refinancing on favorable terms, (iv) the company's ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) the availability of suitable acquisition and disposition opportunities, (viii) valuation of joint venture investments, (ix) valuation of marketable securities and other investments, (x) increases in operating costs, (xi) changes in the dividend policy for our common stock, (xii) the reduction in our income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiii) impairment charges, and (xiv) unanticipated changes in our intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the year ended Dec. 31, 2012. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2012, as may be updated or supplemented in the company's Form 10-Q filings, which discuss these and other factors that could adversely affect the company's results.

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

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