Getty Realty Says Convenience Store Industry is Very Healthy

Christopher Constant, president and CEO of Getty Realty Corp. (NYSE: GTY), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Constant said the convenience store industry, Getty’s focus within the retail sector, is thriving.

“When you combine the health of the fuel retailing industry with the growth on the convenience side, the convenience and gas sector remains one of the healthiest segments of retail overall,” he said. He added that food service, “everything from made-to-order food to hot and cold beverages,” is the fastest growing segment of the convenience industry.

Constant said that consolidation within the convenience and gas industry creates opportunity for Getty. “Our tenants are really looking to continue to grow both through acquisitions and through organic growth,” he said.

Regarding competition for assets, Constant said several of Getty’s net lease peers are also actively involved in the convenience and gas sector.

“From our perspective, we continue to be disciplined in terms of our underwriting criteria,” Constant said.