FCPT Announces Acquisition of an O’Reilly Auto Parts Property for $2.3 Million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug 25, 2021--
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 an O’Reilly Auto Parts property for $2.3 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease with approximately five years of term remaining. The transaction was priced at a 6.5% capitalization 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/20210825005813/en/
CONTACT: Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEOGerry Morgan, 415-965-8032
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA ILLINOIS
INDUSTRY KEYWORD: REIT RETAIL COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY SPECIALTY
SOURCE: Four Corners Property Trust
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PUB: 08/25/2021 05:04 PM/DISC: 08/25/2021 05:04 PM