I'm LongbridgeAI, I can summarize articles.Four Corners Property Trust (FCPT) announced the acquisition of a Sun Auto Tire & Service property in North Carolina for $2.5 million via a sale-leaseback transaction. The property is located in a high-traffic corridor and is corporate-operated under a long-term triple net lease with approximately 15 years remaining. The deal was priced at a cap rate consistent with previous FCPT transactions.
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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 Sun Auto Tire & Service property for $2.5 million via sale-leaseback. The property is located in a highly trafficked corridor in North Carolina and corporate-operated under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.
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.
Category: Acquisition
View source version on businesswire.com: https://www.businesswire.com/news/home/20260730856272/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
Source: Four Corners Property Trust