FCPT Announces Acquisition Of Advance Auto Parts Property For $715K

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 Advance Auto Parts property for $715,000. The property is located in a highly trafficked corridor in Michigan and is occupied under a net lease to the corporate entity with approximately three years of term remaining. The transaction was priced at a 7.9% capitalization rate, exclusive of transaction costs.