Four Corners Property Trust (FCPT) announced the acquisition of a portfolio of automotive service properties for $4.7M from VIVE Collision via sale leaseback. VIVE Collision operates more than 60 locations across nine states in the Northeast, with a focus on advanced repair capabilities, technician development and best-in-class service. The properties are located in strong retail corridors in Maine and Vermont and corporate-operated under long-term, triple net leases with approximately 20 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.
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