1031 Brokerage Services

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Elvin Davis
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1 A Kimco Realty Corporation Subsidiary 1031 Brokerage Services w w w. K i m c o c o m

2 Kimco Exchange Place Overview Why list with Kimco Exchange Place? A web-based retail brokerage service that serves 1031 exchange buyers and sellers nationwide. Kimco s expertise in retail and triple net leased properties We sell single tenant, triple net leased retail, office and industrial properties, as well as land and student housing properties. Superior prices by focusing on 1031 buyers and their time and tax sensitive transactions Maximum exposure via Internet & 7,800 National Buyer and Broker Database Knowledgeable & experienced corporate sales force Co-brokerage friendly with competitive commission rates 2

3 The Competition How We Compare Best Prices Extensive Network Invests in Advertising Marketing Valuation Expertise Fee-Share & Co-broke 100% Web-based National Resources Retail Knowledge Compensation Generation of Offers Kimco Exchange Place Above Market 7,800 Brokers & Principals $100,000 Advertising Budget National & International National Perspective Brokers Protected Over 150,000 Hits Per Month 35 Offices- 340 Professionals National Comps Database Salaried Sales Team National Traditional Brokers Market Local & Regional Varies Local & Regional Local & Regional Resistant to Co-Brokerage Varies Varies Regional Comps Independent Contractors Regional Qualifying Buyers Extensive Experience Varies 3

4 How Kimco Exchange Place Adds Value Representative Deal CPDC Shopping Center Portfolio Location Louisiana and Mississippi Deal Type Portfolio sale of 10 Class B/C Shopping Centers Total GLA 781,684 sf Seller Commercial Property Development Corp. Buyer Various national and regional qualified buyers Business Plan The Seller wanted to maximize sales price and needed to reach qualified buyers outside of the local area. Kimco s Role Generated over 30 offers at competitive cap rates from buyers in 10 different states. Timeframe Average per property, 21 days due diligence and 30 days to close. Kimco Exchange Place was able to price our portfolio based on a national perspective and achieved higher prices than we anticipated. Carolyn Martin, CFO CPDC 4

5 Web-based based Brokerage Website received over 157,000 hits in February 2005 Provides sellers with maximum exposure in limited time span Kimco1031.com is an efficient and effective resource for distributing property information Both retail buyers and sellers access and return to the site daily Brokers can partner with Kimco Exchange Place and post their properties with fee share 5

6 Database Kimco Exchange Place s Database is comprised of over 7,800 principal and brokers 2, exchange principals 2,100 traditional investors 3,400 retail and NNN property brokers We build our database via webbased registration, quarterly mailings, Wall Street Journal print ads, attending ICSC conferences monthly, as well as local and regional advertising. Non-1031 Principals 1031 Principals Brokers 28% 27% 45% 2,100 2,000 3, ,000 1,500 2,000 2,500 3,000 3,500 4,000 6

7 Recently Closed NNN Transactions Tenant / Property Location Sale Price Cap Rate Tenant / Property Location Sale Price Cap Rate Ponderosa Steakhouse Mooresville, IN 925, % Chick-Fil-A Burlson, TX 1,040, % Carl's Jr - ground lease Peoria, AZ 1,420, % Red Lobster Burlson, TX 1,175, % Chili's - ground lease Shorewood, IL 1,250, % Tire Kingdom Tallahassee, FL 628, % Wendy's Woonsocket, RI 916, % Sears Henderson, NV 7,400, % Pizza Hut Tupelo, MS 1,560, % Rite Aid Cambridge, MD 2,239, % NN Safeway West Pueblo, CO 5,939, % Rite Aid Baltimore, MD 1,202, % Port Arthur Land adjacent to HEB Port Arthur, LA 1,400,000 n/a Rite Aid Baltimore, MD 1,506, % CVS Union, NJ 5,560, % Rite Aid Baltimore, MD 1,448, % Sears Waterloo, IA 5,000, % Applebee's Burlson, TX 1,281, % Logan's Roadhouse Burlson, TX 1,175, % Burger King Montgomery, NY 1,013, % Jenkintown Jenkintown, PA 6,975, % Burger King Albany, NY 1,120, % Panera Bread Columbus, OH 2,150, % Burger King Albany, NY 890, % Rite Aid West Haven, CT 2,075, % Burger King Albany, NY 1,000, % Chick Fil A Austin, TX 2,175, % Grandy's Arlington, TX 850, % Chevron GL Tucson, AZ 1,476, % Duckwall-Alco Newton, IL 718, % Sutherland's Casper, WY 1,400, % Duckwall-Alco Gibson City, IL 710, % Tenancy in Common Colorado Springs, CO 1,392, % Grandy's Mesquite, TX 850, % United Health Care Edina, MN 27,900, % Max & Ermas Columbus, OH 2,080, % Pizza Hut Bonify, FL 1,175, % Max & Ermas Hoffman Estates, IL 2,472, % Tire Kingdom Tallahassee, FL 1,565, % Max & Ermas Dayton, OH 2,247, % Red Robin San Antonio, TX 2,230, % USRP Applebee's Ankeny, IA 1,350, % Meineke Apex, NC 475, % Burger King Cohes, NY 1,000, % Olive Garden Burlson, TX 1,148, % Duane Reade Massapequa, NY 4,240, % Wendy's Las Vegas, NV 550, % Macaroni Grill San Antonio, TX 1,187, % Del Taco Las Vegas, NV 825, % Chick-Fil-A San Antonio, TX 775, % Wendy's Las Vegas, NV 545, % TGIF San Antonio, TX 1,160, % Staples Putnam, CT 3,750, % Outback Steakhouse San Antonio, TX 710, % Jack in the Box Chandler, AZ 955, % National Amusements Miamisburg, OH 7,325, % KFC Fountain Hills, AZ 1,266, % IHOP San Antonio, TX 812, % Tenancy in Common Las Vegas, NV 2,400, % Chili s San Antonio, TX 1,000, % Nestle Distribution Center Ft. Lauderdale, FL 9,950, % Bennigan s Cedar Hill, TX 1,005, % Chick-Fil-A Burlson, TX 1,020, % Price Plaza Houston, TX 22,227, % Wendy's Durham, NC 765, % Whataburger Houston, TX 1,097, % Total $175,067,950 7

8 Recently Closed Shopping Center Transactions Tenant / Property Location Sale Price Cap Rate Kroger (shadow anchored) Sulphur Plaza Sulphur, LA 2,478, % Maricopa Fiesta Maricopa, AZ 18,400, % Mid City Shopping Center Monroe, LA 300,000 10% Monroe II Shopping Center Monroe, LA 100,000 10% La Place Shopping Center La Place, LA 1,700,000 10% Bastrop Bastrop, LA 1,530,000 10% West Monroe Shopping Center West Monroe, LA 1,360,000 10% Winnsboro Shopping Center Winnsboro, LA 1,700,000 10% Bay St. Louis Mall (leasehold) Bay St. Louis, MS 440, % Haines City Plaza Haines City, FL 2,000, % Avondale Fiesta, Phoenix, AZ 10,367, % Bell Park Shopping Center Phoenix, AZ 6,600, % Albertson's S/C (TIC) Bonita Springs, FL 3,675, % Lake Charles Lake Charles, LA 710,000 N/A Big Star Shopping Center Biloxi, MS 85, % Peoria Crossing S.C. Peoria, AZ 37,368, % Riggs Marketplace Chandler, AZ 5,368, % Hamstra Square Chandler, AZ 13,000, % Santan Fiesta Chandler, AZ 5,105, % Pinnacle of Scottsdale S/C Scottsdale, AZ 22,800, % Gilbert Fiesta Gilbert, AZ 10,750, % Price Plaza Houston, TX 22,227, % Total 168,064,

9 Company Summary and Overview Kimco Realty Corporation (NYSE: KIM) Largest owner, operator and manager of neighborhood & community shopping centers in North America $6.1 billion equity market capitalization 773 properties, million square feet 42 states, Canada, and Mexico Experienced entrepreneurial management team First property developed in 1958, incorporated in 1966, public since 1991 Strong financial position Rated A-/Baa1 by Standard & Poor s and Moody s Increased dividend 13 consecutive years. Compound annual growth rate of 9.4 percent. 9

10 Kimco Realty Portfolio and Offices 10

experience matters our services

experience matters our services commercial REAL ESTATE experience matters While no two clients needs are exactly alike, we at Levrose have been working with landlords, tenants, buyers and sellers in helping with their specific requirements