FCPT Announces Acquisition of a NAPA Auto Parts Property for $1.3 Million

29 April 2023

Four Corners Property Trust a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties is pleased to announce the acquisition of a NAPA Auto Parts property for $1.3 million. The property is in a strong retail corridor in Nebraska and is occupied under a net lease with approximately two years of term remaining. The transaction was priced at a 7.0% cap rate, 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.

Contacts
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

 

Source:businesswire.com