FCPT Announces Acquisition of a Two Property Portfolio for $2.7 Million

Four Corners Property Trust (NYSE: FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a National Tire and Battery (NTB) property and a Goodyear Tire property for $2.7 million. The properties are located in strong retail corridors in Louisiana and are corporate-operated. Both the NTB and the Goodyear properties are occupied under net leases, with approximately four and ten years of term remaining, respectively. The transaction was priced at a 6.7% cap rate on rent today, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

Contacts

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

More News

View More

Recent Quotes

View More
Symbol Price Change (%)
AMZN  217.95
-4.08 (-1.84%)
AAPL  258.43
-4.34 (-1.65%)
AMD  229.88
-8.15 (-3.42%)
BAC  51.04
-0.48 (-0.93%)
GOOG  252.42
+1.08 (0.43%)
META  733.44
+0.17 (0.02%)
MSFT  520.62
+2.97 (0.57%)
NVDA  180.12
-1.04 (-0.57%)
ORCL  272.95
-2.20 (-0.80%)
TSLA  439.05
-3.55 (-0.80%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.