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FCPT Announces Acquisition of a Mavis Tire Property for $2.6 Million

1. FCPT acquires Mavis Tire property for $2.6 million in retail corridor. 2. Property has a long-term triple net lease for approximately 11 years.

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$25.9108/07 06:51 PM EDTEvent Start
$25.6908/09 01:02 AM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition signifies FCPT's growth strategy and stable revenue generation through long-term leases. Historically, similar strategic acquisitions have led to positive price movements.

How important is it?

The acquisition aligns with FCPT’s core business model, potentially enhancing its asset portfolio and long-term growth. Given the nature of real estate investments, stable leases are crucial for revenue.

Why Long Term?

The long-term lease indicates a stable cash flow that will benefit FCPT over time. Such acquisitions often reflect a commitment to sustained growth and stability.

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FCPTSPGPEI
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 Mavis Tire property for $2.6 million. The property is located in a strong retail corridor in Mississippi and is corporate-operated under a under a long term, triple net lease with approximately 11 years of te.

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