FCPT Announces Acquisition of a NAPA Auto Parts Property for $2.0 million
December 02 2024 - 5:22PM
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 NAPA Auto Parts property for $2.0 million. The property is
located in a highly trafficked corridor in New York and is under a
corporate, triple net lease with approximately 5 years of term
remaining. The transaction was priced at a 7.2% 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
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Patrick Wernig, 415-965-8038 CFO
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