Thursday, April 17, 2008

Martin Kimmel

I was sad to hear that Matin Kimmel passed away. He was the "Kim" of Kimco Realty and Milton Copper was the "co".

According to the New York Times, Martin S. Kimmel, 92, Co-Founder of Retail Real Estate Firm, Dies:

Starting with a “mundane pedestrian strip” on Coral Way in Miami with a Zayre discount store and two other stores, Mr. Cooper said, the company has built a portfolio that now includes about 1,900 properties in the United States, Canada, Mexico, Chile and Brazil — approximately 1,100 of them strip shopping centers. The value of the common stock of Kimco, based in New Hyde Park, N.Y., was $286 million in 1991; today it is about $10.2 billion.

With that first shopping strip under construction, “Cooper and Kimmel quickly learned the tricks of the local real estate game,” a 1998 article in Institutional Investor magazine said. “Kimmel would follow utility trucks to find out where new power lines were being laid,” an early sign of new residential development.

Kimco Realty is a client of The Firm.

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