Pentagon Centre from Kimco Realty Corp. - mixed-use retail hub reshaped in Arlington

Pentagon Centre brings a dense mix of retail, dining and apartments right next to the Pentagon with phased redevelopment turning an old-style strip center into a layered urban block. This bestseller drives the price of Kimco Realty shares (ISIN US49446R1095).

Reviewed: ad hoc news Lifestyle & Consumer desk. Edited and checked on 2026-06-26, 02:50. Details in the imprint.

Pentagon Centre from Kimco Realty Corp. sits almost flush against the traffic roar of Pentagon City, with shoppers stepping from the Metro escalator straight into grocery carts, coffee smells and the concrete columns of new apartments overhead. It feels less like a lonely mall and more like a stitched urban corner.

How Pentagon Centre is laid out

Pentagon Centre is Kimco Realty’s mixed-use shopping center in Arlington, Virginia, combining big-box retail, smaller shops and new residential towers in a single block right by the Pentagon City Metro station. The site has long been a Kimco flagship in the Washington DC area as an open-air center anchored by a national grocery tenant.

The complex spans several buildings along S Hayes Street and 15th Street South, with parking tucked below and behind retail façades instead of sprawling as a surface lot. Walking the sidewalks, you see Target and Costco loading bays hidden behind a cleaner street edge, while the residential entrances feel more like city apartments than mall extensions.

What the redevelopment added

Kimco Realty has been redeveloping Pentagon Centre in phases, replacing legacy strip-style buildings with denser, vertical mixed-use structures. The plan brings new apartments and improved streetscape while retaining key retail anchors, turning a shopping center into a multi-layered neighborhood piece.

The first phase delivered a residential tower above street-level retail, adding hundreds of units on a footprint that previously held mostly parking. For residents, the experience is intensely practical: you can ride down an elevator, push open a glass door and be at the grocery entrance within a minute, without crossing a major road.

Tenants and everyday use

Pentagon Centre’s retail lineup centers on national chains like Costco and Target, supported by smaller shops and dining that feed the heavy commuter and residential traffic. On a weekday evening, carts roll past gym-goers and office workers grabbing takeaway food, all under fluorescent light washing the concrete floors.

For consumers, the appeal is blunt: you can cover weekly groceries, household bulk buys, clothing basics and a quick meal in one stop. The open-air layout means you still feel the rumble of nearby traffic and the chill or heat of the season, which some regulars say keeps it from drifting into anonymous mall territory.

Location and access strengths

The center’s biggest strength is location. Pentagon Centre sits directly beside the Pentagon City Metro station on the Washington Metro Blue and Yellow lines, making it reachable without a car for many DC residents and workers. Multiple bus routes and bike infrastructure plug into the same node.

Kimco Realty CEO Conor Flynn has repeatedly highlighted transit-oriented, grocery-anchored sites like Pentagon Centre as core to the REIT’s strategy, arguing that such locations hold up better through retail cycles. For local shoppers, that strategy translates into a feeling of predictability: the lights are on, the anchor stores are steady, and small format changes happen without the center vanishing.

Where Pentagon Centre falls short

The same dense, urban layout that makes Pentagon Centre efficient can also feel cramped at peak times. Parking queues wind through tight ramps, and delivery trucks share narrow alleys with pedestrians cutting behind the buildings. Some users report that the experience feels raw compared with more polished lifestyle centers.

Architecturally, parts of the complex still show their strip-center ancestry, with plain façades and limited shade or seating along certain stretches. The recent residential additions soften this, but anyone expecting a fully curated, fountain-heavy plaza will find a more utilitarian, workhorse environment.

How it fits Kimco’s portfolio

Kimco Realty focuses on open-air, grocery-anchored shopping centers and mixed-use sites across the United States, including properties like Pentagon Centre that sit in dense, high-barrier urban or suburban nodes. As a real estate investment trust, Kimco earns rental income from tenants and distributes a large share of earnings as dividends.

Pentagon Centre’s combination of essential retail and transit access matches that portfolio logic. For Kimco, the center is a test bed of sorts for layering residential space on top of stable retail anchors, a pattern the company is extending to other properties under its mixed-use redevelopment program.

Context and Kimco shares

Kimco Realty, headquartered in Jericho, New York, traces its roots back to 1973 and has grown into one of the largest owners of open-air shopping centers in North America. Kimco Realty shares (ISIN US49446R1095) trade on the New York Stock Exchange in US dollars as a retail-focused REIT, with Pentagon Centre contributing to its Washington DC-area footprint.

Key facts on Pentagon Centre

• Product: Pentagon Centre
• Manufacturer: Kimco Realty Corporation
• Category: Lifestyle & Consumer - mixed-use retail property
• Launch: Original center developed in the 1990s, ongoing phased redevelopment in the 2010s and 2020s
• RRP / Price: Not applicable - income-generating real estate asset
• Availability: Accessible to consumers in Arlington, Virginia, as an open-air shopping and mixed-use center
• Target group: Local residents, office workers, Pentagon staff, and commuters using the Pentagon City Metro station
• Highlight / USP: Direct integration with transit and big-box anchors, combined with new residential towers in a dense urban block

This article was AI-assisted and editorially reviewed. Product information without guarantee; prices and availability may change at short notice. No investment advice, no buy or sell recommendation. Stock-market transactions involve risks up to total loss.