Alignment With Getty's Investment Philosophy
How Milepost's data-driven approach matches Getty's risk posture and portfolio strategy
Getty Realty focuses on essential, needs-based retail with excellent real estate fundamentals, predictable cash flows, and long-term NNN structures. Milepost's programmatic TA development delivers exactly that—amplified by quantitative data validation.
Essential Retail
Needs-based, nondiscretionary demand with predictable traffic
24/7 Diesel Demand
Truck stops = supercharged essential retail with HOS-mandated parking and mission-critical refueling
Strong Real Estate
High-quality corners with visibility, ingress/egress, and lasting value
Data-Validated Corridors
We explicitly model corridor flow, land geometry, and fallback-use profiles—"real estate must be good even if tenant changes"
Long-Term NNN
Predictable income, low-touch ownership, minimal capex drag
TA/LVP Credit
20-30 year absolute NNN leases with strong tenant credit, engineered for Getty's underwriting standards from day one
Scalable Acquisitions
Repeatable asset profiles with consistent risk signatures
Algorithmic Pipeline
Every site scored on gallons, corridor flow, parking saturation, and competition—a national program with standardized profiles
Downside Protection
Properties retain value if tenant fails or lease ends
Data-Proven Flows
Site fundamentals so strong (validated by data) that same-use re-tennanting is rapid and lower-risk than typical alternatives
Transparent Validation
Underwriting confidence through auditable data and clear risk assessment
No Black Boxes
180K-device cohort, manual geofences, LVP-validated gallons model—every metric ties to verifiable sources
Getty Priority → Milepost Response
| Getty Focus | Milepost Response |
|---|---|
| Essential, needs-based retail (Fueling, convenience, QSR, auto service) |
TA / truck-stop nodes are supercharged essential retail: 24/7 nondiscretionary diesel demand, high capture rates, mission-critical for operators. Data-driven selection reduces volatility and matches Getty's risk posture. |
| High-quality real estate with excellent fundamentals (Strong corners, roadway exposure, visibility) |
Our models explicitly identify heavy corridor flows, predictable ingress/egress, land-form geometry advantages, and resilient fallback-use profiles. Doctrine: "The real estate must be good even if the tenant changes." |
| Long-term NNN, low-touch ownership (Predictable income, minimal capex drag) |
TA-branded facilities + LVP-level operators create strong tenant credit stability. New construction = lower 20–30 year maintenance burden. Sites engineered from day one for Getty's NNN requirements (hardscape durability, environmental controls, clear LL/tenant separation). |
| Repeatable, scalable acquisitions (Consistent asset profiles that scale nationwide) |
Milepost's pipeline is algorithmic, not opportunistic. Each site is data-scored, gallon-scored, corridor-scored, competition-scored, and parking-saturation scored. Output: a repeatable, national development program with standardized asset profiles. |
| Downside protection + alternative-use resiliency (Properties remain valuable if tenant fails/lease ends) |
Every candidate evaluated for QSR pad ability, C-store conversion, auto-service/EV optionality, truck parking monetization, and multiple ingress/egress configurations. Our real estate fundamentals check matches Getty's fallback discipline. |
Risk Factor → How We Reduce It
Risk: Demand Uncertainty
Traditional TA underwriting relies on HPMS proxies and traffic studies that don't measure actual diesel buyers.
Milepost Solution
- 180,000-device trucker cohort isolates actual diesel demand
- Gallons proxy validated against LVP known sales
- Statistical confidence intervals for Getty IC underwriting
- No guesswork: demand is measured, not inferred
Risk: Competitive Oversupply
Building too close to incumbents risks cannibalization; building too far risks missing critical mass.
Milepost Solution
- Parking saturation analysis quantifies unmet demand
- 5-mile competitive radius scoring prevents oversupply
- Cluster vs. frontier framework chooses optimal strategy per corridor
- Data-driven spacing eliminates cannibalization risk
Risk: Real Estate Fundamentals
Sites dependent on single operator/tenant lose value if operations change or lease ends.
Milepost Solution
- Data-proven corridor flows validated by 180K-device cohort
- Site characteristics so strong that same-use re-tennanting is rapid
- Corner access and visibility requirements ensure lasting value
- Real estate selection independent of operator identity
Risk: Re-Tenant Timeframes
If operator changes, attracting a new tenant can be slow and uncertain without proven location fundamentals.
Milepost Solution (Pre-Leased Sites)
- All sites are pre-leased (20-year NNN, build-to-suit)
- Data-proven flows shorten re-tenant timeframes if operator changes
- Strong fundamentals attract replacement tenants faster than typical properties
- Same-use re-tennanting easier due to validated demand and corridor strength
Fallback Scenario → Land-Value Protection
| Fallback Scenario | Traditional Risk | Milepost Protection |
|---|---|---|
| Tenant Credit Failure | Site loses operator; re-leasing difficult if location was operator-dependent | Strong corridor flow + corner access ensures QSR/C-store/logistics interest independent of original tenant |
| TA/LVP Exits Market | Purpose-built TA facility struggles to attract replacement tenant | Real estate fundamentals (oversized parcel, visibility, ingress/egress) support multiple reuse scenarios (EV charging, last-mile distribution, fleet fueling) |
| Diesel Demand Decline | EV/hydrogen transition reduces diesel volumes; facility becomes stranded asset | Site selection prioritizes EV charging scalability, auto service compatibility, and logistics adjacencies—future-proofing Getty's investment |
| Economic Downturn | Discretionary retail suffers; traffic-dependent sites lose value | Truck-stop demand is nondiscretionary and countercyclical (freight activity essential regardless of consumer sentiment); Getty receives defensive asset class |
| New Competition Opens | Site loses market share; cash flows decline below underwriting projections | Cluster strategy sites validated by parking saturation (demand exceeds supply); frontier sites protected by 10+ mile supply gaps and high switching costs |
Why This Matches Getty's Core DNA
Getty's Portfolio Philosophy
- Essential, needs-based retail
- Predictable, stable cash flows
- Long-term NNN structures
- Real estate quality > operator dependency
- Downside protection through fallback use
- Repeatable, scalable asset profiles
Milepost's TA Development DNA
- 24/7 nondiscretionary diesel demand
- Data-validated revenue projections
- Getty-ready NNN lease structures
- Corridor fundamentals independent of tenant
- QSR/C-store/EV/logistics reuse optionality
- Algorithmic pipeline (not brokered opportunism)
If Getty's core is essential retail with great real estate and predictable cash flows, then Milepost truck-stop sites are simply the next evolution—same DNA, bigger opportunity.
Explore Why Truck Stops Fit Getty Better Than Expected
Discover how our data-driven approach brings truck stops into Getty's comfort zone.
Why Truck Stops Fit Getty