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News - Article

Friday, May 3, 2013

Getty Selling 5 WNY Gas Stations

Source: The Buffalo News
By Jonathan D. Epstein, News Business Reporter

Getty Realty Corp. is selling 40 gas stations and 70 commercial and retail properties in 12 states -- including five gas stations and a commercial property in Western New York through a national "sealed bid" auction.

The auction, which is being conducted through NRC Realty & Capital Advisors, involves 42 properties in New York, 14 in Pennsylvania, one in Maryland, one in Illinois, 16 in Massachusetts, four in Rhode Island, one in Vermont, four in Connecticut, one in New Hampshire, 21 in New Jersey, two in Delaware and three in North Carolina.

The properties range in size from 3,250 square feet to 3.5 acres, while the buildings range up to 5,000 square feet.

The local properties include two Getty gas stations in Tonawanda, at 1310 Sheridan Drive and 960 Ellicott Creek Rd.; two in Kenmore at 2355 Elmwood Ave. and 1211 Colvin Blvd.; and a fifth at 2540 S. Park Ave. in Lackawanna, as well as a commercial or retail property in West Seneca.

Buyers can bid on one, some or all of the properties, with minimum bids set at up to 50 percent of the original asking price. The deadline for bids is July 10.

Getty Realty Corp., a real estate investment trust, was part of gas distributor Getty Petroleum Corp. until they split in 1997.

To see a list of convenience stores for sale and gas stations for sale, click here.