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 (FCPT) has acquired a Torchy’s Tacos property for $2.2 million from a previous Seritage transaction. This property, located in Florida, operates under a triple net lease with around 6 years remaining on the lease term. The acquisition is part of a broader strategy, as FCPT has now acquired a total of 26 properties for $78.2 million from Seritage since October 2019. The transaction was priced at a cap rate consistent with previous acquisitions by FCPT.
Four Corners Property Trust (NYSE:FCPT) has acquired a Tires Plus property in Ohio for $2.1 million. The purchase is located in a strong retail area and is leased under a triple net lease with about 5 years remaining. The agreement features annual rent increases of 2%. The transaction reflects a 6.5% cap rate, excluding transaction costs. This acquisition aligns with FCPT's strategy to grow its portfolio in high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has acquired a NAPA Auto Parts property in Michigan for $829,000. The transaction features a corporate-operated net lease with approximately three years remaining, yielding a 7.9% cap rate, excluding transaction costs. This acquisition aligns with FCPT's strategy to enhance its portfolio of high-quality, net-leased restaurant and retail properties, thereby supporting its growth objectives.
Four Corners Property Trust (FCPT) has acquired an Advance Auto Parts property in Michigan for $715,000. This acquisition is situated in a high-traffic area and is secured by a net lease to the corporate entity, with approximately three years remaining on the lease term. The deal was completed at a 7.9% capitalization rate, excluding transaction costs, marking a strategic addition to FCPT's portfolio of high-quality, net-leased restaurant and retail properties.
Four Corners Property Trust (FCPT) has announced the acquisition of three WellNow Urgent Care properties for $8.7 million, enhancing its portfolio in the restaurant and retail sectors. These newly constructed properties are situated in prime retail locations in Ohio and are leased for 10 years at a cap rate of 6.2%. This strategic acquisition reflects FCPT's ongoing efforts to expand its holdings in high-quality, net-leased operations, supporting its growth trajectory.
Four Corners Property Trust (NYSE: FCPT) will announce its financial results for the third quarter of 2022 on November 1, after market close. A conference call is scheduled for November 2 at 11:00 AM ET to discuss the results. Investors can pre-register for the call to streamline entry. FCPT focuses on owning and acquiring high-quality, net-leased restaurant and retail properties. For more details, visit www.fcpt.com.
Four Corners Property Trust (NYSE:FCPT) has acquired two Buffalo Wild Wings properties in New Jersey for $10.2 million. The acquisition is part of FCPT's strategy to expand its portfolio of net-leased restaurant and retail properties. The properties are secured under a triple net lease with 20 years remaining and annual rent increases of 2%. This transaction is priced at a 6.4% cap rate based on rent at closing, marking a strategic addition to FCPT's asset base.
Four Corners Property Trust (NYSE: FCPT) has announced a quarterly cash dividend of $0.3325 per share, equating to $1.33 per share annually. This dividend will be distributed on October 14, 2022 to shareholders who are on record as of September 30, 2022. The company, based in location value="LU/us.ca.milley"Mill Valley, CA, focuses on acquiring and leasing properties in the restaurant and retail sectors. For more details, visit www.fcpt.com.
Four Corners Property Trust (NYSE:FCPT) has acquired a portfolio of three restaurant properties, including Miller’s Ale House, Olive Garden, and Outback Steakhouse, for $8.5 million. Located in a strong retail area in Maryland, these assets are under triple net ground leases with a weighted average remaining term of approximately eight years. The transaction's capitalization rate aligns with FCPT's previous dealings, indicating consistent performance. This acquisition reinforces FCPT's strategy to expand its portfolio in the restaurant and retail sectors.
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.