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FCPT Announces Acquisition of an Automotive Service Property for $4.9 Million

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MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of an automotive service property leased to a national operator for $4.9 million. The property is located in a highly trafficked corridor in Ohio and under a corporate long-term triple net lease. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

Category: Acquisition

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

Source: Four Corners Property Trust

Four Corners Ppty Tr Inc

NYSE:FCPT

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FCPT Stock Data

2.82B
98.56M
1.37%
100.91%
4.06%
REIT - Retail
Real Estate Investment Trusts
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United States
MILL VALLEY