The growth of grocery e-commerce sales, which surged from a pre-pandemic total of $66.5B to $122.4B in 2021, will continue to expand exponentially to more than $240B by the end of 2025, JLL's latest Grocery Tracker report predicts.

But the rapid expansion of e-commerce, which has taken the wind out of indoor mall property values, is not expected to diminish the demand for grocery-anchored, open-air shopping centers.

According to JLL's latest Grocery Tracker report, grocery-anchored retail had the largest share of retail property acquisitions in 2021, totaling $13.3B in sales. Last year saw a record number of grocery-anchored retail property transactions with 735 total trades, 13 more than the previous record set in 2014, the report said.