Fcpt Announces Acquisition Of Three Mr. Tire Properties For $2.5 Million
Dec 29, 2021•over 3 years ago
Acquiring Company
Four Corners Property Trust
Acquired Company
Three Mr. Tire Properties
Mill ValleyReal EstateDescription
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 three Mr. Tire properties for $2.5 million. The properties are located in dense corridors in Maryland and are under a master lease to the corporate entity with approximately 8 years of term remaining. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.
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