Does each tenant account for a small percentage of the total tenant portfolio? Take a look at one well-known retail REIT, and consider the questions raised above in evaluating its merits: Kimco Realty Corp. KIM is a Jericho, New York-based retail REIT that owns and operates 532 open-air, grocery store-anchored and nonanchored properties with 91 million square feet of leasable space as well as ground leases. Kimco Realty was founded in 1958, is a member of the S&P 500 and has been publicly traded on the New York Stock Exchange (NYSE) since 1991. Kimco Realty's lease terms run the gamut from less than five years to 30 years or longer. Its properties have over 5,000 different tenants, only 10 of which have annual base rent (ABR) exposure of over 1%. Tenant diversity is a positive for Kimco Realty.