Getty Realty Corp. (NYSE: GTY) announced today the closing of a sale‑leaseback transaction in which it acquired 12 convenience stores for $100 million and entered into a long‑term, unitary net lease with a subsidiary of Now & Forever, a privately‑owned regional convenience chain in Houston, TX.
The acquired properties are located on prominent corners along major retail corridors in the West and Southwest submarkets of Houston. Each store averages more than 8,000 sq ft, includes branded or private‑label made‑to‑order food offerings, and benefits from Now & Forever’s cohesive network of higher‑income locations. The unitary lease provides a 15‑year initial term with multiple renewal options and rent increases every five years.
Financially, the $100 million purchase is part of Getty’s $233 million year‑to‑date investment in convenience and automotive retail assets, which includes $56 million invested during the quarter ended September 30, 2025. The transaction adds 12 new properties to Getty’s portfolio of 1,137 freestanding assets across 44 states and Washington, D.C., and reinforces the company’s focus on high‑traffic, corner locations.
Strategically, the acquisition strengthens Getty’s presence in the Houston market, a key growth area for the company’s convenience‑store strategy. The long‑term lease structure aligns with Getty’s net‑lease model, providing predictable cash flows and potential rent escalations. The deal supports the company’s broader objective of expanding its convenience‑store holdings while maintaining a diversified portfolio of single‑tenant retail assets.
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