Four Corners Property Trust acquires auto service operator for $1.6M

Four Corners Property Trust (FCPT) announces the acquisition of a property leased to a national automotive service operator for $1.6 million. The property is located in a highly trafficked corridor in Texas and corporate under a long term, triple net lease with approximately 7 years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.