FCPT Announces Acquisition of a NAPA Auto Parts Property for $2.0 million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec 2, 2024--

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 NAPA Auto Parts property for $2.0 million. The property is located in a highly trafficked corridor in New York and is under a corporate, triple net lease with approximately 5 years of term remaining. The transaction was priced at a 7.2% 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

View source version on businesswire.com:https://www.businesswire.com/news/home/20241202399274/en/

CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE OTHER AUTOMOTIVE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: Four Corners Property Trust

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