FCPT Announces Acquisition of a Portfolio of Three Properties for $11.5 Million
Summary
MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of three properties leased to Aspen Dental, Addus Homecare, AT&T, WellNow, and Banfield Pet Hospital for $11.5 million. The properties are located in a strong retail corridor in Illinois. The tenants are all corporate-operated under net leases with a weighted average five years of term remaining. FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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.