Supermarkets are selling their stores to make quick money.
Asda and Morrisons, which are heavily in debt, led the way with deals to sell their stores and warehouses last year.
Although they sell the property, grocers can lease it back to the new owner and continue managing the sites.
These sales and leases accounted for about half of real estate transactions in 2023, compared to just one percent in 2022, according to data from research group Colliers.
Sale and leaseback agreements help free up cash tied up in real estate to pay off debt.
Quick cash: Asda and Morrisons, both heavily in debt, led the way with deals to offload their stores.
Morrisons said it completed around £450 million of sale and leaseback transactions during its financial year to October 29, 2023.
And Asda sold 25 supermarkets to US property investor Realty Income Corporation in a £650m deal.
Morrisons has net debt of £8.6bn. Asda has £4.2 billion.
The companies declined to comment.