FCPT Continues its Acquisition Spree With Automotive Service Property

Four Corners Property Trust (FCPT) recently announced the purchase of an automotive service property for $5.3 million. Leased to a national operator, the said property is located in a highly trafficked corridor in Arkansas. The above acquisition highlights the company’s expansionary and diversification efforts, which will aid future revenue growth.Priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs, the property is corporate-operated under a long-term, triple-net lease. ...