Four Corners Property Trust ($FCPT) Expands Portfolio with New Texas Automotive Lease

Four Corners Property Trust acquired a newly built automotive service property in a high-traffic Texas corridor for $5.8 million.

The property is leased to a national operator under a long-term corporate triple net lease.

The deal reflects a 6.8% capitalization rate based on rent at closing.

Transaction costs were not included in the purchase price.