Four Corners Property Trust acquires Mavis Tire Property for $2.6M

Four Corners Property Trust (FCPT) announces the acquisition of Mavis Tire property for $2.6 million. The property is located in a strong retail corridor in Mississippi and is corporate-operated under a under a long term, triple net lease with approximately 11 years of term remaining. The transaction was priced at a 7.0% cap rate including rent credits received at closing and exclusive of transaction costs.