Benzinga | Feb 23, 2021 04:19PM EST

FCPT Announces Acquisition of a Firestone Property for $3.5M

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Firestone property for $3.5 million. The property is located in a strong retail corridor in Missouri and is corporate-operated under a triple net lease with approximately six years of term remaining. The transaction was priced at a 6.8% going-in cash capitalization rate, exclusive of transaction costs.