Getty Realty Corp. (NYSE: GTY) is a real estate investment trust that owns, leases and develops convenience store and automotive service properties. The company primarily invests in properties operated by convenience stores, gas stations, automotive repair businesses, car washes, tire and service centers, and other automotive-related retailers.
Getty Realty generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property taxes, insurance, maintenance and other operating costs. Its portfolio is concentrated in locations serving everyday transportation and convenience needs, and the company also pursues acquisitions, redevelopment and selective property dispositions.
Founded in 1955, Getty Realty has evolved from its historical association with the Getty petroleum and service-station business into a specialized real estate owner and landlord. The company serves tenants across a broad area of the United States, with properties located in numerous states. Getty Realty is headquartered in Jericho, New York, and is led by President and Chief Executive Officer Christopher J. Constant.
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