An investor has acquired a six-property portfolio of Mobil-branded convenience and gasoline retail sites in a sale-leaseback transaction from a private investor and C&G operator. According to sources unrelated to the deal, New York-based Getty Realty Corp. purchased the portfolio. The triple-net assets traded hands for a total of $24.5 million or a cap rate of 7.25%.

This was a merger-and-acquisition style sale-leaseback, and it was in escrow for eight months before closing.

Matt Lipson, Chris Lomuto and Milo Spector, all associate directors in Stan Johnson Company's Portland, Oregon and Walnut Creek, California offices represented the seller in the deal.

 

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.