Getty Realty signs long-term triple-net leases with Global Partners, Lehigh Gas Getty Realty (GTY) announced the signing of two long-term triple-net leases for 109 properties representing $9.1M in annual triple–net GAAP revenue. The first lease is with a subsidiary of Global Partners LP (GLP) and comprises 84 properties located throughout the New York metropolitan area including New York City and Long Island. The annual triple-net GAAP revenue from this lease is anticipated to be approximately $7.7M. The second lease is with a subsidiary of Lehigh Gas Partners LP (LGP) and comprises 25 properties located mainly in northern New Jersey. The annual triple-net GAAP revenue from this lease is anticipated to be approximately $1.4M. Both leases have 15 year initial terms with options for multiple renewal terms.
Getty Realty declares special cash dividend of 14c per share The dividend is payable on January 8, 2015 to holders of record on December 24. The special cash dividend is in addition to the 22c per common share regular cash dividend for the fourth quarter that was declared by the company’s Board of Directors on November 4.