Fcpt Announces Acquisition Of A Gerber Collision Property For $1.7 Million
08/18/21, 8:59 PM
Location
Industry
real estate
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 Gerber Collision property for $1.7 million. The property is located in a highly trafficked corridor in Wisconsin and is corporate-operated under a net lease with approximately nine years of term remaining. The transaction was priced at a 7.0% capitalization rate, exclusive of transaction costs.
Company Info
Location
Mill Valley, California, United States
Company info
The automotive service property acquired by FCPT is located in a highly trafficked corridor in Texas and is leased to a national operator under a corporate long-term triple net lease. The transaction was priced at $4.8 million and is in line with previous FCPT transactions.