Four Corners Property Trust acquired a newly constructed Left Lane Auto property in South Carolina for $3.1 million. The property is located in a strong, highly trafficked retail corridor and is corporate-operated under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date, exclusive of transaction costs.

Transaction Details

The acquisition adds a net-leased asset to Four Corners Property Trust's portfolio, which focuses on restaurant and retail properties. The lease structure and remaining term provide long-term stability for the company's rental income.

Company Profile

Four Corners Property Trust is a real estate investment trust primarily engaged in the ownership, acquisition, and leasing of restaurant and retail properties. Headquartered in Mill Valley, CA, 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.

Four Corners Property Trust has acquired a Novant Health Urgent Care property in South Carolina for $2.8 million. The transaction expands the company's portfolio of net-leased properties and aligns with its strategy of investing in high-quality real estate.

The property is located in a highly trafficked corridor and is corporate-operated under a long-term triple net lease. The acquisition was priced at a cap rate in range with previous Four Corners Property Trust transactions, reflecting consistent valuation metrics.

Transaction Details

Four Corners Property Trust, 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 focuses on growing its portfolio by acquiring additional real estate to lease on a net basis for use in the restaurant and retail industries.