Since it steers clear of department-store-dependent assets, shopping center REIT Kimco Realty Corp. has largely escaped the turmoil that’s been dragging down discretionary retailers. Yet in many cases, Kimco is being painted with the same broad brush that has stained retail landlords whose properties are anchored by department stores.
The 2017 holiday shopping season
could help paint a sharper picture for Kimco and other retail
landlords, though. Conor Flynn, CEO of Kimco, is enthused about this
holiday shopping season, based on projections of roughly 3.5 percent to
4.5 percent growth in retail sales compared with 2016.
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