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Chris Constant, CEO, Getty Realty – No Vacancy: Building a real estate empire, one convenience store at a time
Manage episode 484005172 series 3281544
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When you stop to fill up your car with gas, you might also pop into the store to grab a quick bite, or a gatorade, or that carton of milk you forgot to get at the supermarket. One company has managed to leverage that common retail experience into a real-estate empire.
Chris Constant is the president and Chief Executive Officer of Getty Realty Corp, which trades under the symbol GTY on the New York Stock Exchange. Chris joined the company in November of 2010 as Director of Planning and Corporate Development, and was later promoted to treasurer in May of 2012, Vice President in May of 2013, CFO also in 2013 and CEO in 2016.
Today, Chris walks us through the surprising origins of Getty Realty, discusses developments in the convenience store and automotive sectors, and explains why Getty has found such incredible success working with those industries.
Highlights:
- Getty Realty origins (4:50)
- What's a 'Net Lease REIT?' (7:07)
- Why C-stores and Auto-service? (8:00)
- How convenience stores have changed (9:48)
- Getty's advantage in the market (11:25)
- Sourcing new assets (12:48)
- Occupancy and rent (15:07)
- Potential for growth in other sectors (16:40)
- Uncertain macro environment (18:13)
- Impact of EVs (20:25)
- Dividends (21:49)
- What people miss about Getty (23:32)
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