Getty Realty Completes $100M Houston Convenience Store Acquisition with 15-Year Lease

Getty Realty Corp. completed a $100 million sale-leaseback acquisition of 12 convenience stores located in Houston, Texas, with the properties leased long-term to Now & Forever, a regional convenience store chain. The stores average over 8,000 square feet and are situated on prominent corners in high-income submarkets, featuring branded or private label made-to-order food offerings. The lease agreement includes an initial 15-year term with multiple renewal options and rent escalations every five years. This transaction is part of Getty Realty's broader 2025 investment strategy, which has seen approximately $233 million committed to convenience and automotive retail assets, yielding an initial cash return of 7.9%. Despite a recent earnings per share miss in Q2 2025, Getty Realty's revenue slightly exceeded expectations, reflecting some financial resilience. The company's portfolio as of mid-2025 included 1,137 freestanding properties across 44 states and Washington, D.C., emphasizing its focus on convenience and automotive retail real estate.