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Food & beverage tomorrow: How grocers are approaching 2023
As 2023 unfolds, U.S. grocery-anchored retail centers remain highly sought after by retailers as a preferred location for neighborhood stores and investors seeking strong-performing real estate assets, according to CBRE Research.
Grocers attract more foot traffic than any other type of retailer, which emboldens other retailers to pay a premium for storefronts within the same center. Within this grocery-dependent ecosystem, retailers and investors are paying close attention to the asset class’s performance and prospects.
The nationwide availability rate for open-air neighborhood, community and strip centers — which house most supermarkets and big-box stores — reached an all-time low of 6.9 percent at the end of 2022. In a down year for real estate investment sales, CBRE data shows that more than $14.6 billion of grocery-anchored centers traded in 2022, 24 percent higher year-over-year and the highest mark in 10 years. Supermarkets also are experimenting with other