Getty Realty Corp. Announces the Acquisition of $100 Million Houston Convenience Store Portfolio

Rhea-AI Summary

Getty Realty (NYSE: GTY) closed a sale-leaseback to acquire 12 Houston convenience stores for $100 million and signed a long-term unitary net lease with a Now & Forever subsidiary. The leased stores average >8,000 SF, offer made-to-order food, and sit on major retail corners in West and Southwest Houston.

The lease has an initial 15-year term with multiple renewal options and scheduled rent increases every five years. Year-to-date investment activity totals $233 million at a 7.9% initial cash yield, including about $56 million invested in the quarter ended September 30, 2025.

Positive

• $100M acquisition of 12 convenience stores
• Leases average an initial 15-year term with renewals
• Properties average >8,000 SF with food offerings
• YTD investments of $233M at 7.9% cash yield

Negative

• $56M invested in Q3 2025 (quarter concentration of spend)
• Assets concentrated in Houston regional market

Insights

Real Estate Portfolio Strategist

Getty acquired 12 Houston convenience stores for $100 million under a 15-year unitary net lease; YTD investment reached $233 million.

The company purchased 12 convenience stores in Houston for $100 million via a sale‑leaseback and signed a long‑term unitary net lease with a Now & Forever subsidiary with an initial term of 15 years and rent increases every five years.

This transaction expands the portfolio in West and Southwest Houston, adds locations averaging over 8,000 square feet with food offerings, and contributes to year‑to‑date investments of $233 million at a stated initial cash yield of 7.9%.

Key dependencies and risks include tenant performance under the unitary lease, renewal exercise by the tenant, and execution of scheduled rent increases; monitoring near‑term quarter activity is relevant because the company reported $56 million invested in the quarter ended September 30, 2025. Expect observable effects on portfolio income and occupancy over the next few years, with specific milestones to watch including rent reset dates every five years and any announcements about lease renewals or tenant credit updates.

Reports $233 Million of Year-to-Date Investment Activity

NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today the closing of a sale leaseback transaction under which the Company acquired 12 convenience stores for $100 million, and simultaneously entered into a long-term, unitary net lease with a subsidiary of Now & Forever, a privately-owned, regional convenience store chain located in Houston, TX.

The acquired properties are located on prominent corners along major retail corridors in the West and Southwest submarkets of Houston, TX. The convenience stores average more than 8,000 SF, include branded or private label made-to-order food offerings, and benefit from the cohesive network of locations that Now & Forever has strategically assembled in higher income submarkets of the Houston metropolitan area. The unitary lease provides for an initial term of 15 years, with multiple renewal options, and rent increases every five years.

Year to date, the Company has invested approximately $233 million in convenience and automotive retail assets at a 7.9% initial cash yield, including the announced transaction and approximately $56 million invested during the quarter ended September 30, 2025.

About Getty Realty Corp.

Getty Realty Corp. is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of June 30, 2025, the Company’s portfolio included 1,137 freestanding properties located in 44 states across the United States and Washington, D.C.

Forward-Looking Statements

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the private securities litigation reform act of 1995. When the words “believes,” “expects,” “plans,” “projects,” “estimates,” “anticipates,” “predicts,” “outlook” and similar expressions are used, they identify forward-looking statements. These forward-looking statements are based on management’s current beliefs and assumptions and information currently available to management and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements

Information concerning factors that could cause the company’s actual results to differ materially from these forward-looking statements can be found elsewhere from this press release, including, without limitation, those statements in the company’s periodic reports filed with the securities and exchange commission. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.

Contacts:		Brian Dickman		Investor Relations
		Chief Financial Officer		(646) 349-0598
		(646) 349-6000		ir@gettyrealty.com

FAQ

What did Getty Realty (GTY) acquire on October 6, 2025?

Getty acquired 12 Houston convenience stores for $100 million via a sale-leaseback.

What are the lease terms for GTY's Houston convenience store portfolio?

The portfolio carries a unitary net lease with an initial 15-year term and rent increases every five years.

How much has Getty Realty invested year-to-date through Oct 6, 2025?

Getty reported $233 million of year-to-date investment activity at a 7.9% initial cash yield.

How large are the convenience stores Getty purchased (GTY)?

The acquired stores average more than 8,000 square feet each and include food service.

How much did Getty invest in the quarter ended September 30, 2025?

Approximately $56 million was invested during the quarter ended September 30, 2025.

Where are the acquired properties located for Getty Realty (GTY)?

They are on prominent corners in the West and Southwest submarkets of Houston, Texas.