Getty Realty Corp., a net lease real estate investment trust (REIT) specializing in convenience and automotive retail properties, has acquired 12 Now & Forever convenience stores for $100 million. The transaction includes a long-term net lease agreement with Now & Forever, a privately-owned regional convenience store chain based in Houston.
The properties are situated on high-traffic corners in the West and Southwest submarkets of Houston. Each store spans over 8,000 square feet, offering branded or private-label made-to-order food options. The strategic locations are part of a well-integrated network serving higher-income areas within the Houston metro.
The lease agreement includes an initial 15-year term with multiple renewal options and scheduled rent escalations every five years. With this acquisition, Getty Realty gains a foothold in a strong-performing market, while Now & Forever continues to operate its network of 25 stores across the Houston area.
