Global Partners (GLP) to Operate 90 Getty (GTY) Gas Stations in New York
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Global Partners LP (NYSE: GLP) announced the signing of a long-term lease agreement with Getty Realty Corp. (NYSE: GTY) that enables the Partnership to supply gasoline to and operate through a dealer network approximately 90 of Getty’s gas station sites in the boroughs of Queens, Manhattan and the Bronx as well as in Long Island and Westchester County.
Most of the approximately 90 stations under the new long-term lease arrangement had been part of an interim fuel supply and services agreement that Global Partners and Getty entered earlier this year. The initial lease term for the locations is 15 years and includes multiple five-year renewal options. Approximately 140 sites, the majority in New York and New Jersey, will continue to operate under the interim fuel supply agreement.
Most of the approximately 90 stations under the new long-term lease arrangement had been part of an interim fuel supply and services agreement that Global Partners and Getty entered earlier this year. The initial lease term for the locations is 15 years and includes multiple five-year renewal options. Approximately 140 sites, the majority in New York and New Jersey, will continue to operate under the interim fuel supply agreement.
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