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Shopping center operator acquires a partner’s stake

Posted: June 13, 2013 2:00 a.m.
Updated: June 13, 2013 2:00 a.m.

Shopping center operator, Kimco Realty Corp., announced Monday that it paid $67 million to acquire a partner’s stake in 70 shopping centers.

The New York-based real estate investment trust firm purchased 9.7 percent interest in the Kimco Income Fund I portfolio and 3.6 percent interest in the Kimco Income REIT.

The transaction represents 13.9 million square feet of retail space across 23 states, including shopping centers in California, New York, Virginia, Florida, Maryland, California, and Texas, the firm said.

The firm also manages, leases and develops shopping centers.

Locally, Kimco represents two properties — Granary Square and Canyon Square Plaza.

The 143,070 square foot Granery Square shopping center in Valencia on McBean Parkway has anchor tenants Ralphs supermarket and CVS pharmacy.

The 96,662 square foot Canyon Square Plaza on Soledad Canyon Road in Canyon Country has Albertson’s as an anchor tenant.




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