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FCPT Announces Acquisition of a Left Lane Auto Property for $3.0 Million

1. FCPT acquired Left Lane Auto property for $3.0 million. 2. This acquisition expands FCPT's portfolio beyond restaurants and retail.

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$25.2709/19 04:22 PM EDTEvent Start
$25.2709/19 09:21 PM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition diversifies FCPT's property holdings, enhancing potential revenue streams. Historically, similar acquisitions led to positive stock performance for REITs.

How important is it?

The strategic purchase of diverse properties indicates growth potential and market confidence, which can attract investors.

Why Long Term?

The diversification into auto service properties can provide stable, long-term income. Similar expansions in other sectors have resulted in sustained growth for REITs over time.

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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 Left Lane Auto property for $3.0 million. Left Lane Auto is an auto service operator owning and operating auto repair shops across 13 states under various brands, currently with 67 units primarily serving the.

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