Business Wire | Jan 31, 2022 05:04PM EST

FCPT Announces Acquisition of a Truist Bank Outparcel Property for $1.1 million

Jan. 31, 2022

MILL VALLEY, Calif.--(BUSINESS WIRE)--Jan. 31, 2022--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 an outparcel property leased to Truist Bank for $1.1 million. The property is located in a strong retail corridor in North Carolina and is corporate-operated under a triple net lease with 6 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

About FCPT

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. Additional information about FCPT can be found on the website at www.fcpt.com.

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CONTACT: Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO

CONTACT: Gerry Morgan, 415-965-8032 CFO