FCPT Announces Acquisition of a 7-Eleven Property for $1.5 Million | FCPT Stock News
I'm LongbridgeAI, I can summarize articles.Four Corners Property Trust (FCPT) announced the acquisition of a 7-Eleven convenience store property in Pennsylvania for $1.5 million. The asset is located in a strong retail corridor and operates under a long-term triple net lease with approximately ten years remaining. The transaction carries a 6.9% cap rate on rent as of closing, excluding transaction costs.
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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 7-Eleven convenience store property for $1.5 million. The property is located in a strong retail corridor in Pennsylvania and corporate-operated under a long-term, triple net lease with approximately ten years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and 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.
Category: Acquisition
View source version on businesswire.com: https://www.businesswire.com/news/home/20260827221436/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
Source: Four Corners Property Trust