Getty Realty acquires $100M Houston convenience store portfolio

Getty Realty (GTY) announced the closing of a sale leaseback transaction under which the Company acquired 12 convenience stores for $100M, 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 $233M in convenience and automotive retail assets at a 7.9% initial cash yield, including the announced transaction and approximately $56M invested during the quarter ended September 30, 2025.