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 four Tire Discounters properties for $9.1 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, currently operating over 200 retail locations and growing. The properties are located in Virginia (2), Georgia (1), and Ohio (1), and are corporate-operated under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.
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.
