Tuesday, June 25, 2024
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HomeNewsBusiness WireFCPT Announces Acquisition of a Tires Plus Property for $2.3 Million

FCPT Announces Acquisition of a Tires Plus Property for $2.3 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 Tires Plus property for $2.3 million. The property is located in a dense retail corridor in Illinois and is occupied under a triple net lease to the corporate entity with approximately one year of term remaining. The transaction was priced at a 6.7% 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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