Four Corners Ppty Tr Inc Stock Price, News & Analysis

Four Corners Property Trust (FCPT) has acquired a Circle K property and a Firestone property for $6.5 million in Illinois. The properties are situated in a high-traffic area and have long-term, triple net leases with an average remaining term of 5 years. The deal was executed at a 7.0% cap rate, not including transaction costs. This acquisition aligns with FCPT's strategy to expand its portfolio of high-quality restaurant and retail properties.

Four Corners Property Trust (NYSE:FCPT) has acquired a Caliber Collision property in Michigan for $889,000. This site, located in a busy area, is under a net lease with approximately nine years remaining. The acquisition was made at a 6.9% capitalization rate, considering near-term rent increases and excluding transaction costs. FCPT aims to expand its portfolio by acquiring quality net-leased restaurant and retail properties.

Four Corners Property Trust (FCPT) has acquired six outparcel properties for $14.0 million, as part of a transaction first announced in July 2022. This portfolio includes five single-tenant restaurant properties and one non-restaurant retail property, all located in a prominent Texas retail corridor. The properties feature net-lease structures with strong tenancy, having a weighted average remaining lease term of approximately four years. The acquisition aligns with FCPT's strategy to enhance its portfolio of high-quality, net-leased real estate.

Four Corners Property Trust (NYSE:FCPT) has acquired two National Tire and Battery properties for $2.8 million. Located in prime retail corridors in North Carolina, the properties are corporate-operated under triple net leases with an average remaining term of seven years. The acquisition was executed at a 6.1% cap rate on actual rent, demonstrating a strategic move to enhance FCPT's portfolio in the retail sector. The company aims to expand its presence through similar acquisitions in the restaurant and retail industries.

Four Corners Property Trust (FCPT) has sold a Burger King restaurant property in Mississippi for $2.4 million, achieving a 5.3% cap rate on current rent. This transaction will yield an immaterial gain to the company. FCPT plans to reinvest the proceeds through a 1031-Exchange, which allows tax deferrals on the sale proceeds. However, if FCPT does not identify replacement properties within 45 days or fails to acquire them within 180 days, it may incur a tax at the highest corporate rate on the gains from the sale.

Four Corners Property Trust (NYSE:FCPT) has acquired a Mr. Tire property in New Jersey for $1.2 million. The property features a net ground lease with approximately ten years remaining. This acquisition, priced at a 6.5% capitalization rate, enhances FCPT's portfolio in a prime location with significant traffic.

FCPT focuses on owning and acquiring high-quality net-leased restaurant and retail properties, aimed at driving future growth.

Four Corners Property Trust (FCPT) announced the acquisition of a Buffalo Wild Wings property in Illinois for $2.3 million. The site is located in a strong retail corridor and is under a triple net ground lease with approximately two years remaining. The acquisition was completed at a 6.3% capitalization rate, excluding transaction costs, demonstrating FCPT's strategy to grow its portfolio of net-leased restaurant and retail properties.