Getty Realty Corp. Provides Leasing Update
- Secures Long-Term Tenant Commitments and Reduces Near-Term Lease Expirations -
NEW YORK, March 11, 2026 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, today provided an update on recent leasing activity that addresses near-term maturities and improves key portfolio metrics.
The Company has extended the lease terms for five unitary leases totaling $10.9 million of annual base rent (“ABR”), or 5.0% of total ABR as of December 31, 2025. Pro forma for this leasing activity:
- The portfolio’s weighted average lease term (“WALT”) increased from 9.9 years to 10.4 years
- ABR expiring in 2027 decreased by approximately 70% to 1.7% of total ABR
- Aggregate 2026 and 2027 lease expirations represented less than 2.8% of total ABR
The unitary lease extensions include:
| As of December 31, 2025 | As Extended / Amended | |||||||||||||
| Tenant | Properties | ABR ($M) | WALT (yrs) | Properties | ABR ($M) | WALT (yrs) | ||||||||
| CrossAmerica | 115 | $ | 6.6 | 1.3 | 115 | $ | 7.1 | 11.3 | ||||||
| BP | 22 | 2.9 | 2.0 | 22 | 2.9 | 12.0 | ||||||||
| CPD Energy | 17 | 0.8 | 5.0 | 9 | 0.5 | 15.0 | ||||||||
| Shahani | 12 | 0.6 | 13.6 | 18 | 0.8 | 15.6 | ||||||||
| Totals | 166 | $ | 10.9 | 2.5 | 164 | $ | 11.3 | 12.0 | ||||||
- CrossAmerica Partners LP ("CrossAmerica") agreed to amended lease terms that extended the expiration of two unitary leases by ten years to April 2037, and increased the ABR due under the leases by $0.5 million due to converting certain variable rent to fixed rent as part of the amendment.
- BP Products North America (“BP”) exercised two five-year renewal options extending the expiration of its unitary lease by ten years to December 2037.
- CPD Energy (“CPD”) agreed to amended lease terms that extended the expiration of one of its unitary leases by ten years to December 2040, and reduced the number of properties under that lease from 17 to nine. The eight properties removed from the lease include six owned properties that were transferred to Shahani, Inc. (“Shahani”) at the same ABR, and two leased properties for which the Company assigned its lease position to CPD.
- Shahani agreed to amended lease terms that extended the expiration of its unitary lease by two years to July 2041, and increased the number of properties under the lease from 12 to 18 to include the six owned properties transferred from CPD.
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 December 31, 2025, the Company’s portfolio included 1,174 freestanding properties located in 44 states across the United States and Washington, D.C.
| Contacts: | Brian Dickman | Investor Relations |
| Chief Financial Officer | (646) 349-0598 | |
| (646) 349-6000 |
