FCPT acquires $3.5 million auto property

• 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.