Benzinga | Aug 17, 2021 04:13PM EDT

FCPT Announces Acquisition Of A National Tire And Battery And Goodyear Tire Property For $2.7M

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 National Tire and Battery (NTB) property and a Goodyear Tire property for $2.7 million. The properties are located in strong retail corridors in Louisiana and are corporate-operated. Both the NTB and the Goodyear properties are occupied under net leases, with approximately four and ten years of term remaining, respectively. The transaction was priced at a 6.7% cap rate on rent today, exclusive of transaction costs.