FCPT Announces Acquisition of a Gerber Collision & Glass Property for $2.8 million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec 20, 2022--
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 Gerber Collision & Glass property for $2.8 million. The property is located in a strong retail corridor in Texas and is corporate-operated under a net lease with approximately four years of term remaining. The transaction was priced at a 7.3% cap rate, exclusive of transaction costs.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221220005652/en/
CONTACT: Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: REIT OTHER AUTOMOTIVE COMMERCIAL BUILDING & REAL ESTATE AUTOMOTIVE CONSTRUCTION & PROPERTY
SOURCE: Four Corners Property Trust
Copyright Business Wire 2022.
PUB: 12/20/2022 04:05 PM/DISC: 12/20/2022 04:06 PM