Fcpt Announces Acquisition Of A Vca Animal Hospital For $2.5 Million
09/02/21, 8:06 PM
Location
mill valley
los angeles
Industry
real estate
animal feed
health care
veterinary
pet
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 VCA Animal Hospital property for $2.5 million. The property is located in a strong retail corridor in Florida and is corporate-operated under a net lease with approximately eight years of term remaining. The transaction was priced at a 6.5% cap rate on rent today, exclusive of transaction costs.
Company Info
Location
Mill Valley, California, United States
Company info
The acquired Burger King property is located in a strong retail corridor in Virginia and is under a corporate long-term, triple net lease with approximately 13 years of term remaining. The acquisition was priced at a 7.0% cap rate on rent exclusive of transaction costs.