Fcpt Announces Acquisition Of A Two Property Portfolio For $3.3 Million From Preit
08/06/22, 12:23 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 a Capital One property and a ground lease Chuck E. Cheese property for $3.3 million. The properties are located in strong retail corridors in Maryland and South Carolina respectively, and both are occupied under triple net leases and have a current weighted average remaining term of approximately six years. The overall transaction was priced at a cap rate in range with previous FCPT transactions.
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.