Fcpt Announces Acquisition Of Two Express Oil Change Properties For $4.6 Million
12/23/21, 11:45 AM
Location
Industry
real estate
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 two Express Oil Change properties for $4.6 million. The properties are located in highly trafficked corridors in Mississippi and both leases are with the corporate entity. The transaction was priced at a 6.3% going-in cash 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.