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FCPT Announces Acquisition of an Automotive Service Property for $5.3 Million

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Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of an automotive service property for $5.3 million. The property, located in a highly trafficked corridor in Arkansas, is leased to a national operator under a corporate long-term triple net lease. The transaction was executed at a 6.8% cap rate on rent as of the closing date, excluding transaction costs.

Four Corners Property Trust (NYSE:FCPT) ha annunciato l'acquisizione di un immobile per servizi automobilistici per 5,3 milioni di dollari. La proprietà, situata in un corridoio ad alto traffico in Arkansas, è affittata a un operatore nazionale sotto un contratto di locazione a lungo termine triple net. La transazione è stata eseguita con un tasso di capitalizzazione del 6,8% sugli affitti alla data di chiusura, escluse le spese di transazione.

Four Corners Property Trust (NYSE:FCPT) ha anunciado la adquisición de una propiedad de servicio automotriz por 5.3 millones de dólares. La propiedad, ubicada en un corredor de alto tráfico en Arkansas, está arrendada a un operador nacional bajo un contrato de arrendamiento triple neto a largo plazo. La transacción se llevó a cabo a un tasa de capitalización del 6.8% sobre la renta en la fecha de cierre, excluyendo los costos de la transacción.

포 코너스 프로퍼티 트러스트 (NYSE:FCPT)530만 달러에 자동차 서비스 부동산을 인수했다고 발표했습니다. 이 부동산은 아칸소의 고교통량 통로에 위치하며, 국가 운영자에게 장기 기업 트리플 넷 리스 계약으로 임대되고 있습니다. 거래는 마감일 기준으로 임대료에 대해 6.8%의 캡 레이트로 실행되었으며, 거래 비용은 제외됩니다.

Four Corners Property Trust (NYSE:FCPT) a annoncé l'acquisition d'un bien immobilier de service automobile pour 5,3 millions de dollars. La propriété, située dans un couloir très fréquenté de l'Arkansas, est louée à un opérateur national sous un contrat de location triple net à long terme. La transaction a été réalisée à un taux de capitalisation de 6,8% sur le loyer à la date de clôture, hors frais de transaction.

Four Corners Property Trust (NYSE:FCPT) hat den Erwerb einer Automobilserviceimmobilie für 5,3 Millionen Dollar bekannt gegeben. Die Immobilie, die sich in einem stark frequentierten Korridor in Arkansas befindet, ist an einen nationalen Betreiber unter einem langfristigen Triple-Net-Leasingvertrag vermietet. Die Transaktion wurde zu einem 6,8% Kapitalisierungsrate auf die Miete zum Zeitpunkt des Abschlusses durchgeführt, ohne Transaktionskosten.

Positive
  • Strategic acquisition expanding portfolio into automotive service sector
  • Property located in high-traffic area, suggesting strong business potential
  • Secured long-term triple net lease with national operator
  • Attractive 6.8% cap rate indicating good return potential
Negative
  • Relatively small acquisition size ($5.3M) may have impact on overall portfolio growth

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 $5.3 million. The property is located in a highly trafficked corridor in Arkansas 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

FAQ

What is the value of FCPT's latest automotive service property acquisition?

FCPT acquired the automotive service property for $5.3 million.

Where is FCPT's newly acquired automotive service property located?

The property is located in a highly trafficked corridor in Arkansas.

What is the cap rate for FCPT's recent automotive property acquisition?

The transaction was priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs.

What type of lease agreement does FCPT have for the new automotive property?

The property is under a corporate long-term triple net lease with a national operator.
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REIT - Retail
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United States
MILL VALLEY