- GTY is a well-operated landlord of net leased gas stations across America.
- But the market share of electric vehicles is projected to increase rapidly in the coming years, with EVs accounting for 30% to 50% of new car sales by 2030.
- In this brave new (electrified) world, a substantial number of gas stations is likely to become obsolete.
- Environmental issues and the already over-retailed nature of US real estate cast doubt on the idea that all of the shuttered gas stations can be easily and profitably repurposed for other uses.
- That makes the long-term outlook for GTY cloudy at best and dismal at worst.
For further details see:
Getty Realty: A World Of EVs Will Require Far Fewer Gas Stations