Net-leased describes a commercial property arrangement where the tenant not only pays rent but also assumes some or all ongoing property costs such as taxes, insurance, and maintenance. For investors, this setup is like leasing out a house where the renter also pays the utilities and yard work: it usually produces steadier, more predictable income and shifts operating cost and vacancy risk away from the landlord, affecting valuation and return expectations.
triple-net leasefinancial
A triple-net lease is a rental agreement where the tenant pays the base rent plus the property's operating expenses—typically taxes, insurance, and maintenance—so the landlord receives mostly a steady, predictable cash payment. For investors, it matters because it can act like a low-maintenance, bond-like income stream with clearer expense exposure, but returns depend on the tenant’s financial strength and long-term ability to cover those extra costs.
fair market valuesfinancial
The price a willing buyer and a willing seller would agree on for an asset when neither is rushed, both have relevant information, and each acts in their own interest. It matters to investors because it anchors valuations, financial reporting, taxes and deal pricing — influencing perceived gains, portfolio value and whether an investment looks attractive or over- or underpriced. Think of it as the amount two neighbors settle on for a used car after comparing condition and nearby listings.
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MILL VALLEY, Calif.--(BUSINESS WIRE)--
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 a single property asset exchange with Darden Restaurants (“Darden”). Under the asset exchange agreement, FCPT transferred ownership of a recently closed Bahama Breeze property in Michigan to Darden and in exchange Darden transferred ownership of an Olive Garden property in Nevada to FCPT. As part of the transaction, FCPT entered into a new lease with Darden for the Olive Garden property at the same rent and on the same terms as the former Bahama Breeze lease. The Olive Garden property is located in a strong retail corridor in Nevada and is corporate-operated under a triple-net lease. The transaction was structured as a cashless asset exchange, as the parties agreed that the respective “as is” fair market values of the exchanged properties are reasonably equivalent.
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.
