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

Recent Quotes

View More
Symbol Price Change (%)
AMZN  227.35
+0.59 (0.26%)
AAPL  273.67
+1.48 (0.54%)
AMD  213.43
+12.37 (6.15%)
BAC  55.27
+1.01 (1.86%)
GOOG  308.61
+4.86 (1.60%)
META  658.77
-5.68 (-0.85%)
MSFT  485.92
+1.94 (0.40%)
NVDA  180.99
+6.85 (3.93%)
ORCL  191.97
+11.94 (6.63%)
TSLA  481.20
-2.17 (-0.45%)
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.