FCPT Announces Acquisition of an O’Reilly Auto Parts Property for $2.3 Million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired an O’Reilly Auto Parts property in Illinois for $2.3 million. This transaction is significant as it is located in a high-traffic area and operates under a net lease with approximately five years remaining. The property transaction was conducted at a 6.5% capitalization rate, which reflects the potential yield from this acquisition. FCPT continues to focus on expanding its portfolio by acquiring quality restaurant and retail properties.

Positive

• Acquisition of O’Reilly Auto Parts property for $2.3 million in a high-traffic area.
• Property under net lease with approximately five years remaining, ensuring stable income.
• Transaction at a 6.5% capitalization rate, indicating strong investment potential.

Negative

• None.

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 O’Reilly Auto Parts property for $2.3 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease with approximately five years of term remaining. The transaction was priced at a 6.5% capitalization rate, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005813/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What is the recent acquisition made by FCPT?

FCPT recently acquired an O’Reilly Auto Parts property for $2.3 million.

Where is the O’Reilly Auto Parts property located?

The property is located in a high-traffic corridor in Illinois.

What is the capitalization rate for the recent acquisition by FCPT?

The acquisition was priced at a 6.5% capitalization rate.

What is the remaining lease term for the acquired property?

The property has approximately five years remaining on its net lease.