keys program
DESCRIPTION
KEYS Program. North America’s Largest Owner & Operator of Neighborhood & Community Shopping Centers. Who is Kimco?. History Started in 1958 | IPO that initiated modern REIT era; NYSE-listed for ~20 years | S&P 500 Index (2006) Dividend $0.76 annually , ~3.9% yield (3/31/12) - PowerPoint PPT PresentationTRANSCRIPT
KEYS Program
North America’s Largest Owner & Operator of Neighborhood & Community Shopping Centers.
History Started in 1958 | IPO that initiated modern REIT era; NYSE-listed for ~20 years | S&P 500 Index (2006)
Dividend $0.76 annually, ~3.9% yield (3/31/12)Shopping Center Properties 946 properties; 138.1M / 89.5M sq. ft. (gross/pro-rata)Geographic Footprint 44 states, Puerto Rico, Canada, Mexico and South AmericaOccupancy (pro-rata) 5-year average: 93.9% | High: 96.3% (12/31/07) / Low: 92.3% (6/30/09)Enterprise Value $13.2B (3/31/12)Credit Rating Investment Grade BBB+ | BBB+ | Baa1 (S&P | Fitch | Moody’s)
Who is Kimco?
• Kimco Entrepreneurs Year Start (KEYS) is a business incubator program for qualified startup entrepreneurs.
• Approved applicants receive: • Resources and services • One year of free rent (must pay NNN expenses only)
• This incentive accelerates the growth of their new businesses in shopping centers owned by Kimco and its joint venture partners.
Kimco Entrepreneurs
What is KEYS?
Year Start
Westlake Shopping Center - Daly City, CA
Redhawk Towne Center – Temecula, CAKimco Entrepreneurs Year Start
• Qualified KEYS applicants will benefit from: • Substantially lower monthly overhead expenses • Lease term flexibility • Assistance of a Kimco counselor
• Counselor will advise and guide potential tenant through the lease, store selection and planning process, if desired.
• After Tenant’s initial first year lease term, the tenant has choice to exercise a four-year lease option for the existing store.
• Also, the lease provides for an easy exit with no long term obligation to Kimco if the startup entrepreneur finds the business unworkable.
What does KEYS offer?
• Currently, there are approximately: • 100 available stores • All under 2,500 square feet in size • Located in Kimco’s demographically diversified California portfolio
• Of the 100 available units, there is a mixture of both retail, service, and former restaurant build-outs.
Kimco Entrepreneurs How many spaces are available?
Year Start
Larwin Square Shopping Center – Tustin, CA
KEYS Locations
The District at Tustin Legacy – Tustin, CA
Kimco Entrepreneurs Year Start
• KEYS is open to: • New startup retail ventures • Service operations • Restaurants
• The entrepreneur should have the training, skill, enthusiasm, and adequate funding to launch a new business.
• Franchisees or product license agreement participants may not apply to the program.
Who can apply to KEYS?
• There is NO catch!
• Kimco benefits by bringing new and exciting tenants to its vacancies, while new entrepreneurs benefit from lower startup costs, favorable lease terms, and the help of a counselor, if desired.
• Studies found that 87% of ‘incubator graduates’ stayed in business, in contrast to 44% of all firms.
Kimco Entrepreneurs
What’s the catch?
Year Start
The District at Tustin Legacy – Tustin, CA
Kimco Entrepreneurs Year Start
• Applicants can submit their business plan online at http://www.KimcoKeys.com
How do I get started?
• Applicants may also apply by calling 1-888-668-1690
• A printable application form can be found online by clicking here
Westlake Shopping Center - Daly City, CA