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  232.14
+3.71 (1.62%)
AAPL  272.36
+1.39 (0.51%)
AMD  214.86
-0.09 (-0.04%)
BAC  55.97
+0.09 (0.16%)
GOOG  315.68
+4.35 (1.40%)
META  664.94
+3.44 (0.52%)
MSFT  486.51
+1.59 (0.33%)
NVDA  189.21
+5.52 (3.01%)
ORCL  195.34
-3.04 (-1.53%)
TSLA  485.56
-3.17 (-0.65%)
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.