Slate Grocery REIT Reports Strong 2025 Results

Grocery-anchored real estate portfolio delivers high leasing volumes and double-digit rental spreads

Published on Feb. 10, 2026

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Slate Grocery REIT, an owner and operator of U.S. grocery-anchored real estate, announced its financial results and highlights for the fourth quarter and full year 2025. The REIT reported strong leasing activity, with 1.7 million square feet of total leasing completed throughout the year at high rental spreads, and stable portfolio occupancy of 94.4%. The REIT also completed strategic transactions to strengthen its tenant mix and de-lever its portfolio.

Why it matters

Slate Grocery REIT's resilient grocery-anchored portfolio and strong credit tenants are expected to provide unitholders with durable cash flows and the potential for capital appreciation over the longer term, even amid an evolving macroeconomic environment. The REIT's focus on fundamentals and proactive balance sheet management have positioned it well for continued performance.

The details

The REIT completed 1.7 million square feet of total leasing in 2025, with renewals at 14.9% above expiring rents and new deals at 34.9% above comparable average in-place rent. Adjusting for completed redevelopments, same-property Net Operating Income (NOI) increased by $3.3 million or 2.0% in the fourth quarter on a trailing twelve-month basis. The REIT's average in-place rent of $12.86 per square foot remains well below the market average of $24.34, providing runway for continued rent increases. The REIT also maintained a stable portfolio occupancy of 94.4% as of December 31, 2025.

  • Slate Grocery REIT reported its fourth quarter and full year 2025 results on February 11, 2026.

The players

Slate Grocery REIT

An owner and operator of U.S. grocery-anchored real estate, focused on providing durable cash flows and capital appreciation for its unitholders.

Blair Welch

Chief Executive Officer of Slate Grocery REIT.

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What they’re saying

“Our fourth quarter and year-end results underscore the resilience of grocery-anchored real estate, even amid an evolving macroeconomic environment.”

— Blair Welch, Chief Executive Officer (businesswire.com)

What’s next

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The takeaway

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