Getty Realty Corp. Provides Leasing Update

Core Insights - Getty Realty Corp. has secured long-term tenant commitments and reduced near-term lease expirations, enhancing key portfolio metrics [1] Group 1: Lease Extensions and Financial Impact - The company has extended lease terms for five unitary leases totaling $10.9 million of annual base rent (ABR), representing 5.0% of total ABR as of December 31, 2025 [2] - The weighted average lease term (WALT) increased from 9.9 years to 10.4 years, while ABR expiring in 2027 decreased by approximately 70% to 1.7% of total ABR [4] - Aggregate lease expirations for 2026 and 2027 represented less than 2.8% of total ABR [4] Group 2: Specific Lease Amendments - CrossAmerica Partners LP extended the expiration of two unitary leases by ten years to April 2037, increasing the ABR by $0.5 million due to the conversion of variable rent to fixed rent [5] - BP Products North America exercised two five-year renewal options, extending its unitary lease expiration by ten years to December 2037 [5] - CPD Energy amended lease terms to extend one unitary lease expiration by ten years to December 2040, reducing the number of properties under that lease from 17 to 9 [5] - Shahani agreed to extend its unitary lease expiration by two years to July 2041, increasing the number of properties under the lease from 12 to 18 [5] Group 3: Company Overview - 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, with a portfolio of 1,174 freestanding properties across 44 states and Washington, D.C. as of December 31, 2025 [3]