FCPT Announces Acquisition of a Left Lane Auto Property for $3.1 Million
FCPT Announces Acquisition of a Left Lane Auto Property for $3.1 Million
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 Left Lane Auto property for $3.1 million. The property is newly constructed and located in a strong, highly trafficked retail corridor in South Carolina and corporate-operated under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Category: Acquisition
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
View source version on businesswire.com: https://www.businesswire.com/news/home/20260721992880/en/
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