Kimco is a last-mile real estate investment trust (REIT), specializing in the acquisition, development, and management of open-air shopping centers. The company's portfolio consists of 526 properties with approximately 105 million square feet of tenant space. About 80% of annual base rents are from centers anchored by grocery store tenants. Anchor stores also include discount clothing retailers such as T.J. Maxx and Ross. The company recognizes the value of multiuse retail destinations that include smaller tenants, and has maintained relationships with fast food and coffee retailers. The company has shopping centers in 39 states, with a focus on the last-mile suburbs of major metro coastal markets, as well as Sunbelt locations. In August 2021, it purchased Weingarten Realty for approximately $3.9 billion, becoming the large