1. FCPT acquired a Tires Plus property for $1.7 million. 2. The property is in a high-traffic area in Georgia. 3. It operates under a triple net lease with three years left. 4. The acquisition has a 7.4% cap rate on rent. 5. FCPT aims to grow by acquiring more restaurant and retail properties.
The acquisition strengthens FCPT's portfolio and diversifies its income streams. Historically, strategic acquisitions have positively influenced FCPT's stock price.
The acquisition contributes substantially to revenue potential and portfolio quality, indicating positive investor sentiment. High-quality acquisitions generally reflect strong management execution.
This acquisition aligns with FCPT's long-term growth strategy. Sustained growth typically materializes over several quarters, impacting future earnings.
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 Tires Plus property for $1.7 million. The property is located in a highly trafficked corridor in Georgia and corporate-operated under a triple net lease with approximately three years of term remaining. The transaction was priced at a 7.4% 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