FCPT Announces Acquisition of a Pathway Vet Alliance Property for $1.8 Million
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MILL VALLEY, Calif.--(BUSINESS WIRE)-- 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 Pathway Vet Alliance property for $1.8 million. The property is located in a highly trafficked retail corridor in Utah and is corporate-operated under a triple net lease with approximately 11 years of term remaining. The property was priced at a 6.7% capitalization rate, exclusive of transaction costs.
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.
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
Source: Four Corners Property Trust
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