Recently, retail real estate has been among the more uncertain sectors due to the long-lasting effects of the COVID-19 pandemic. Despite the uncertainty in retail demand, the demand for groceries has stayed strong as in 2021, grocery sales in the United States totaled $783.1 billion, up 43 percent from a decade prior, according to Federal Reserve Economic Data. Historically, grocery-anchored retail centers have fared well through economic downturns, with sales continuing to increase steadily and occupancy remaining above 90 percent. In addition, inflationary environments can grow sales for grocers since the cost of groceries is often cheaper than the cost of dining out at restaurants. This resiliency allows the grocer subsector to have some of the most consistent income and appreciation returns out of all retail over the long term.

Grocery-anchored retail is also one of the retail subsectors least impacted by the flight to societal ecommerce adoption. Only 11 percent of all g