FCPT Announces Acquisition of a Firestone Property for $3.5 Million

Four Corners Property Trust (FCPT) has announced the acquisition of a Firestone property in Missouri for $3.5 million.

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02/23/2021 - 04:05 PM EST

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Firestone property for $3.5 million. The property is located in a strong retail corridor in Missouri and is corporate-operated under a triple net lease with approximately six years of term remaining. The transaction was priced at a 6.8% going-in cash capitalization rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.