FCPT Announces Sale Leaseback of Three W.W. Williams Properties for $10.3 Million
05 Junho 2023 - 7:41PM
Business Wire
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 three W.W. Williams properties for $10.3 million via a
sale-leaseback. Founded in 1912 in Columbus, Ohio, W.W. Williams is
one of the nation’s largest truck and equipment servicers. The
properties are located in strong industrial corridors in Michigan
and Ohio and are corporate-operated under long-term, triple net
leases with approximately 15 years of term remaining, four 5-year
options, and annual rent increases of 2%. The transaction was
priced at a 7.1% cap rate exclusive of transaction costs.
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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version on businesswire.com: https://www.businesswire.com/news/home/20230605005740/en/
Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
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