1. FCPT acquired a Tires Plus property for $2.3 million. 2. The property is located in a strong retail corridor in Georgia. 3. It is operated under a long-term, triple net lease. 4. Cap rate aligns with previous FCPT transactions.
The acquisition of a profitable, long-term leased asset strengthens FCPT's portfolio. Historically, similar transactions have positively impacted the firm's stock price.
The acquisition supports FCPT's growth strategy and could attract investor interest, impacting stock performance.
Immediate benefits from the acquisition might enhance investor confidence and stock performance. Past acquisitions by FCPT have shown short-term gains following announcements.
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 $2.3 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
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