FCPT acquires $3.5 million auto property
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- Four Corners Property Trust (NYSE:FCPT) acquired a $3.5 million automotive service property through a sale-leaseback transaction.
- The property is leased to a national operator under a long-term triple-net lease agreement.
- The acquisition expands FCPT’s portfolio of net-leased restaurant and retail-related properties.
Four Corners Property Trust (NYSE:FCPT) acquired an automotive service property leased to a national operator for $3.5 million through a sale-leaseback transaction.
The property is located in a high-traffic corridor in Kentucky and operates under a long-term triple-net lease with the tenant responsible for property expenses.
Four Corners Property Trust said the transaction was priced at a capitalization rate consistent with its previous acquisitions.
The acquisition adds another net-leased asset to FCPT’s portfolio, which focuses on restaurant and retail properties.
FCPT invests primarily in owning and acquiring high-quality, net-leased properties across restaurant and retail sectors.
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