FCPT Announces Acquisition of a Raising Cane's Property, a Dollar General Property, and a Jiffy Lube Property for $6.6 Million
Four Corners Property Trust (NYSE:FCPT) has acquired three commercial properties for $6.6 million, including a Raising Cane's, a Dollar General, and a Jiffy Lube. The properties are situated in prime retail areas across Texas and Florida, featuring long-term triple net leases with an average remaining term of 8 years. The Raising Cane's and Dollar General locations are corporate-operated, while the Jiffy Lube is franchisee-operated. The transaction was completed at a 7.3% cap rate on rent at closing, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) ha acquisito tre proprietà commerciali per 6,6 milioni di dollari, tra cui un Raising Cane's, un Dollar General e un Jiffy Lube. Le proprietà si trovano in aree commerciali di primo livello in Texas e Florida, con contratti di locazione triple net di lungo termine e una durata rimanente media di 8 anni. Le sedi di Raising Cane's e Dollar General sono gestite da aziende, mentre il Jiffy Lube è gestito da un franchisee. La transazione è stata completata a un 7,3% di cap rate sull'affitto al momento della chiusura, escludendo i costi di transazione.
Four Corners Property Trust (NYSE:FCPT) ha adquirido tres propiedades comerciales por 6.6 millones de dólares, incluyendo un Raising Cane's, un Dollar General y un Jiffy Lube. Las propiedades están ubicadas en áreas comerciales estratégicas en Texas y Florida, con arrendamientos triples netos a largo plazo y un plazo promedio restante de 8 años. Las ubicaciones de Raising Cane's y Dollar General son operadas por la corporación, mientras que el Jiffy Lube es operado por un franquiciado. La transacción se completó a una tasa de capitalización del 7.3% sobre el alquiler al cierre, excluyendo los costos de transacción.
포 코너스 프라퍼티 트러스트(NYSE:FCPT)는 660만 달러에 Raising Cane's, Dollar General, Jiffy Lube를 포함한 세 개의 상업용 부동산을 인수했습니다. 이 부동산들은 텍사스와 플로리다의 주요 소매 지역에 위치하고 있으며, 평균 잔여 기간이 8년인 장기 트리플 넷 리스로 구성되어 있습니다. Raising Cane's와 Dollar General은 회사 운영 지점이며, Jiffy Lube는 프랜차이즈 운영입니다. 이 거래는 거래 비용을 제외하고, 마감 시 7.3%의 캡 비율로 임대 계약이 완료되었습니다.
Four Corners Property Trust (NYSE:FCPT) a acquis trois propriétés commerciales pour 6,6 millions de dollars, comprenant un Raising Cane's, un Dollar General et un Jiffy Lube. Les propriétés sont situées dans des zones commerciales de premier ordre au Texas et en Floride, avec des baux nets triples à long terme et une durée moyenne restante de 8 ans. Les emplacements de Raising Cane's et Dollar General sont gérés par la société, tandis que le Jiffy Lube est géré par un franchisé. La transaction a été réalisée à un taux de capitalisation de 7,3% sur le loyer lors de la clôture, hors frais de transaction.
Four Corners Property Trust (NYSE:FCPT) hat drei Gewerbeimmobilien für 6,6 Millionen Dollar erworben, darunter ein Raising Cane's, ein Dollar General und ein Jiffy Lube. Die Immobilien befinden sich in erstklassigen Einzelhandelslagen in Texas und Florida und verfügen über langfristige Triple-Net-Leasingverträge mit einer durchschnittlichen verbleibenden Laufzeit von 8 Jahren. Die Standorte von Raising Cane's und Dollar General werden von der Unternehmenszentrale betrieben, während der Jiffy Lube von einem Franchisenehmer betrieben wird. Die Transaktion wurde zu einem 7,3% Kapitalisierungsrate bei Mietbeginn abgeschlossen, ohne Transaktionskosten.
- Strategic acquisition of three established retail properties in strong commercial locations
- Secured long-term triple net leases with 8-year average remaining term
- Attractive 7.3% cap rate on the investment
- Two of three properties are corporate-operated, suggesting stable tenant quality
- None.
Insights
This triple-property acquisition represents a strategic expansion of FCPT's portfolio with well-established retail tenants. The
The weighted average lease term of 8 years provides stable income visibility, while the properties' locations in Texas and Florida - both high-growth markets - suggest potential for long-term value appreciation. The fact that two of the three properties are corporate-operated adds an extra layer of tenant credit quality. The cap rate indicates a reasonable valuation in the current interest rate environment, offering an attractive spread over treasury yields.
About FCPT
FCPT, headquartered in
Category: Acquisition
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119240030/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
Source: Four Corners Property Trust
FAQ
What properties did FCPT acquire in their latest transaction?
What is the cap rate for FCPT's latest property acquisition?
What is the average lease term remaining on FCPT's newly acquired properties?
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