Four Corners Property Trust buys 3 Express Oil Change & Tire Engineers for $9.5M

Four Corners Property Trust (FCPT) announces the acquisition of three Express Oil Change & Tire Engineers properties for $9.5 million. The properties are located in highly trafficked corridors in Georgia and are corporate-operated under long term, triple net leases with approximately 19 years of term remaining. The transaction was priced at a 6.6% cap rate on rent as of the closing date and exclusive of transaction costs.