Benzinga | Jan 31, 2022 05:12PM EST

Four Corners Property Trust To Acquire Truist Bank Outparcel Property For $1.1M

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.