Best Buy Closures Limited to Two Kimco Shopping Centers
NEW HYDE PARK, N.Y.--(BUSINESS WIRE)-- Kimco Realty Corporation (KIM) announced that two stores at its shopping centers in California and Ohio, respectively, are among the 50 locations that Best Buy announced it will be closing in 2012. Best Buy remains contractually obligated to pay rent at both locations until the end of their lease terms.
A 30,000-squarefoot Best Buy with a lease-end date of January 2018 will close at The District at Tustin Legacy in Tustin, Calif., a 685,000-square-foot thriving retail center with multiple anchors including Target, Whole Foods, TJ Maxx, AMC Theaters, PetSmart, Michaels and Office Depot in addition to having Lowes and Costco as shadow anchors. Kimco holds a 50 percent interest in this property.
In addition, Best Buy will close a 55,000-square-foot store with a lease-end date of January 2013 at Kimcos wholly owned Shiloh Springs Plaza in Dayton, Ohio. Additional anchor tenants at the 163,000-square-foot center include Big Lots, Shoe Carnival and Jo-Ann Fabric and Craft Stores.
Kimco Realty Corporation is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North Americas largest portfolio of neighborhood and community shopping centers. As of December 31, 2011, the company owned interests in 946 shopping centers comprising 138 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 companys blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
Vice President, Investor Relations and Corporate Communications
Source: Kimco Realty CorporationCopyright Business Wire 2012