Company: GTY
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019976
Chunk: 45

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 2
Chunk 45
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Substantially all of our properties are leased on a triple-net basis to convenience store operators, petroleum distributors, express tunnel car wash operators and other automotive-related and retail tenants. Our tenants are responsible for the operations conducted at our properties, including the payment of all taxes, maintenance, repair, insurance and other operating expenses. We manage and evaluate our operations as a single segment.

We independently obtain and maintain a program of insurance which we believe adequately covers our owned and leased properties for casualty and liability risks. Our insurance program is underwritten in view of primary insurance coverages which we require to be provided by most of our tenants for properties they lease from us, including in respect to casualty, liability, pollution legal liability, fire and extended coverage risks.

24

The following table summarizes the geographic distribution of our properties as of December 31, 2024. In addition, we lease approximately 11,100 square feet of office space at 292 Madison Avenue, New York, New York for our corporate headquarters, which we believe will remain suitable and adequate for such purposes for the immediate future.

    Owned byGetty Realty

    Leased byGetty Realty

    TotalPropertiesby State

    Percentof TotalProperties

    New York

    161

    20

    181

    18.5
    %

    Massachusetts

    99

    4

    103

    9.2

    Texas

    100

    —

    100

    8.9

    Connecticut

    61

    4

    65

    5.8

    Virginia

    55

    1

    56

    5.0

    South Carolina

    55

    —

    55

    4.9

    North Carolina

    50

    —

    50

    4.5

    New Hampshire

    44

    —

    44

    3.9

    New Jersey

    41

    2

    43

    3.8

    Maryland

    40

    2

    42

    3.8

    Michigan

    41

    —

    41

    3.6

    California

    35

    —

    35

    3.1

    Washington State

    30

    —

    30

    2.7

    Arizona