Market Overview

Getty Realty Announces LT Triple-Net Lease Deals with BP

Share:
Related GTY
Top Performing Industries For June 4, 2015
Top 4 Small-Cap Stocks In The REIT-Retail Industry With The Highest EPS

Getty Realty Corp. (NYSE: GTY) announced it had agreed to long-term triple-net leases on 28 properties in New York and New Jersey with a subsidiary of BP, plc (NYSE: BP), BP Products North America Inc. Under the terms of the agreements, the aggregate annual triple-net GAAP revenue will be up to approximately $3.0 million. The leases with BP have initial 15 year terms with provisions for rent escalations and options for multiple renewal terms.

Posted-In: News Contracts

 

Related Articles (BP + GTY)

Get Benzinga's Newsletters