FCPT Announces Acquisition via Sale-Leaseback of a Christian Brothers Automotive Property for $4.3 Million
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 via sale-leaseback of a Christian Brothers Automotive property for $4.3 million. The property is located in a strong retail corridor in Illinois with high traffic and attractive demographics. The property is under a long-term lease guaranteed by the corporate entity. 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
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