FCPT Announces Acquisition of an Automotive Service Property for $4.8 Million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Jan 28, 2025--
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 $4.8 million. The property is located in a highly trafficked corridor in Texas and under a corporate long-term triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
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
Bill Lenehan, 415-965-8031
CEOPatrick Wernig, 415-965-8038
CFO
SOURCE: Four Corners Property Trust
Copyright Business Wire 2025.
PUB: 01/28/2025 06:14 PM/DISC: 01/28/2025 06:14 PM
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