Four Corners Property Trust reports news centered on its REIT portfolio of net-leased restaurant and retail properties. Company updates frequently cover acquisitions of corporate-operated properties leased to restaurant, automotive service, veterinary, tire retail and other retail tenants, with details on lease structure, remaining term and acquisition capitalization rates.
FCPT news also includes quarterly financial and operating results, rent collection and occupancy commentary, investor presentations, and balance-sheet activity such as senior unsecured term loan facilities used to support its property acquisition pipeline and general corporate purposes.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a MercyOne outpatient clinic property in Iowa for $2.8 million. The property is situated in a strong retail corridor and operates under a triple net lease with approximately five years remaining on the term. The transaction was completed at a 7.8% cap rate on rent as of the closing date, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a P.F. Chang's property for $4.8 million. The property, located in a high-traffic retail corridor in Illinois, operates under a corporate triple net lease with approximately 5 years remaining on the term. The transaction was completed at a 7.4% cap rate on rent as of the closing date, excluding transaction costs. P.F. Chang's China Bistro is an American-based casual dining restaurant chain with over 200 locations across the United States, specializing in Asian fusion cuisine.
Four Corners Property Trust (NYSE:FCPT) has acquired a City Barbeque property for $2.6 million. The newly constructed property is situated in a high-traffic area in Georgia and is secured by a long-term, triple net corporate lease with approximately 11 years remaining. City Barbeque is a 25-year-old fast casual barbeque chain with around 75 locations, primarily in the Southeast and Midwest. The transaction's cap rate aligns with FCPT's previous acquisitions.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a Panera Bread property for $2.0 million. The property is situated in a strong retail corridor in Indiana and is corporate-operated under a triple net lease with approximately four years remaining on the term. The transaction was completed at a 6.8% cap rate on rent as of the closing date, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a NAPA Auto Parts property for $2.0 million. The property is strategically located in a high-traffic area in New York and operates under a corporate, triple net lease with approximately 5 years remaining on the term. The transaction was completed at a 7.2% cap rate on rent as of the closing date, excluding transaction costs.
Four Corners Property Trust (NYSE:FCPT) has acquired five Outback Steakhouse properties for $19.7 million. The properties, purchased from the same seller as the previous Bloomin' Brands 19-property portfolio deal in August 2024, are situated in prime retail locations across Texas (3), Florida (1), and Missouri (1). The properties are corporate-operated under long-term net leases, and the transaction was completed at a cap rate consistent with FCPT's previous transactions.
Four Corners Property Trust (NYSE:FCPT) has acquired three commercial properties for $6.6 million, including a Raising Cane's, a Dollar General, and a Jiffy Lube. The properties are situated in prime retail areas across Texas and Florida, featuring long-term triple net leases with an average remaining term of 8 years. The Raising Cane's and Dollar General locations are corporate-operated, while the Jiffy Lube is franchisee-operated. The transaction was completed at a 7.3% cap rate on rent at closing, excluding transaction costs.
Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of $0.3550 per share for the fourth quarter of 2024, equivalent to $1.42 per share annually. This represents a 2.9% increase from the previous quarter. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. FCPT is a real estate investment trust focused on owning, acquiring, and leasing restaurant and retail properties.
Four Corners Property Trust (NYSE:FCPT) has acquired a Miller's Ale House property in Georgia for $3.8 million. The property is situated in a strong retail corridor and operates under a corporate net lease with approximately 11 years remaining. The transaction was completed at a 7.2% cap rate on rent at closing, excluding transaction costs.
Four Corners Property Trust (FCPT) has acquired three Christian Brothers Automotive properties for $9.6 million. The properties, located in retail corridors across Alabama, Colorado, and Louisiana, are secured by long-term triple net leases with an average of 12 years remaining. Christian Brothers Automotive operates over 250 locations across 30 states. The transaction's cap rate aligns with FCPT's previous acquisitions.