1. FCPT acquired a Tires Plus property for $2.3 million in Georgia. 2. The property is located in a strong retail corridor. 3. It features a long-term, triple net lease. 4. Transaction cap rate aligns with past FCPT deals.
FAQ
Why Bullish?
The acquisition signals growth potential, maintaining FCPT's expansion strategy, similar to past successful acquisitions that positively impacted stock price.
How important is it?
The acquisition demonstrates FCPT's active growth strategy and its ability to invest in quality locations, which can enhance investor confidence.
Why Long Term?
Long-term growth is anticipated as more properties are added to the portfolio, enhancing revenue stability over time.
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