FCPT Announces Acquisition of a Caliber Collision Property for $1.4 Million

Four Corners Property Trust (FCPT) has announced the acquisition of a Caliber Collision property for $1.4 million in Virginia, strategically situated in a strong retail corridor.

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08/26/2021 - 05:55 PM EDT

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 the acquisition of a Caliber Collision property for $1.4 million. The property is located in a strong retail corridor in Virginia and is corporate-operated under a net lease with approximately eleven years of term remaining. The transaction was priced at a 6.4% cap rate on rent today and exclusive of transaction costs, or 6.5% inclusive of a contractual rent increase in December 2021.

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.