FCPT Announces Acquisition of a Caliber Collision Property for $3.3 million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Nov 16, 2020--
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Caliber Collision property for $3.3 million. The property is newly constructed and located in a strong retail corridor in a highly trafficked corridor in Indiana and is operated under a triple net lease to the brand’s corporate entity with approximately 15 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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/20201116005999/en/
CONTACT: Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
KEYWORD: CALIFORNIA INDIANA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL AUTOMOTIVE GENERAL AUTOMOTIVE COMMERCIAL BUILDING & REAL ESTATE SPECIALTY CONSTRUCTION & PROPERTY REIT
SOURCE: Four Corners Property Trust
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PUB: 11/16/2020 04:05 PM/DISC: 11/16/2020 04:05 PM