Wednesday, July 24, 2024
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HomeNewsBusiness WireFCPT Announces Acquisition of a KC Complete Auto Property for $1.6 Million

FCPT Announces Acquisition of a KC Complete Auto Property for $1.6 Million

MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a KC Complete Auto property for $1.6 million. The property is located in a highly trafficked corridor in Missouri and is occupied under a triple net lease to the corporate entity with approximately eight years of term remaining. The transaction was priced at a 6.9% capitalization rate, exclusive of transaction costs.

About FCPT

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

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