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Kimco Holds On To Strip Center Lead

Kimco Realty Corp., New Hyde Park, N.Y., continues to hold the top spot in ShoppingCenter World's annual ranking of strip center managers and owners. The company has more than doubled its portfolio since 1993. In the last year alone, the company has grown by approximately 9 million sq. ft. Its announced merger with The Price REIT Inc., Los Angeles, is sure to further increase the numbers.

This survey features portfolio data as of April 30, 1998. Companies were directed to include GLA managed and owned as of that date regardless of any announced mergers (e.g., Trammell Crow Co./Faison & Associates or Prime Retail/Horizon Group Inc.).

Nonetheless, mergers have still had their effects on our annual ranking. Notably, Los Angeles-based CB Richard Ellis has made big strides in the management listing. The company has increased its portfolio from 15.7 million sq. ft. to 42.3 million sq. ft., moving it from No. 11 to No. 2.

Jacksonville, Fla.-based Regency Realty Corp. also increased its size since last year with an additional 4 million sq. ft. of owned and managed strip centers. This year, it jumps into the Top 10 on both lists.

Shopping Center World's strip center rankings are based on GLA figures reported by the individual companies. The figures reflect centers that were open and operating as of April 30, 1998.

The survey excludes enclosed malls and centers with enclosed areas that comprise more than one-third of the total GLA. Owners of joint venture projects were instructed to report only their percentage of ownership.

The ranking of the top 50 managers begins below, followed by the top 50 owners on page 66. An * indicates a tie. An alphabetical index is on page 64.

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