FCPT Announces Acquisition of an Express Oil Change Property for $1.5 Million

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 an Express Oil Change property for $1.5 million.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, March 30, 2022
Information
Tags: 
Retail, Restaurant, Bar, Other Retail, Commercial Building & Real Estate, Construction & Property, REIT, NYSE, Company, Ownership, Express Oil Change & Tire Engineers, Acquisition, CA
Geotags: 
CALIFORNIA, MISSISSIPPI, UNITED STATES, NORTH AMERICA
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Organisation: 
FCPT
Stock Symbol: 
NYSE:FCPT
Summary
Key Points: 
  • 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 an Express Oil Change property for $1.5 million.
  • The property is located in a highly trafficked corridor in Mississippi and is occupied under a triple net lease to the corporate entity with approximately eleven years of term remaining.
  • The transaction was priced at a 6.3% capitalization rate, exclusive of transaction costs.
  • 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.


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 an Express Oil Change property for $1.5 million. The property is located in a highly trafficked corridor in Mississippi and is occupied under a triple net lease to the corporate entity with approximately eleven years of term remaining. The transaction was priced at a 6.3% 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.

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