Firm Buys 11 Oahu Gas Station Properties
Monday, April 2, 2007
Source: Pacific Business News
A New York-based real estate investment trust has purchased 11 convenience store and gas station properties on Oahu leased by Aloha Petroleum.
The properties purchased by the Getty Realty Corp. include five in Honolulu, two each in Kaneohe and Waianae, and one each in Haleiwa and Waipahu.
The stations will remain under the Aloha brand "at the discretion of our tenants," said Kevin Shea, a spokesman for the Jericho, N.Y.-based company.
Shea declined to disclose the addresses of the stations.
The acquisitions were part of 59 convenience store and gas station properties in nine states purchased for $78 million that were announced by Getty Realty on Monday.
Getty Realty Corp. owns and leases more than 1,100 properties throughout the United States. The 11 Oahu stations are Getty Realty's first investment in Hawaii, Shea said.
