FCPT Announces Acquisition of two Wawa properties for $2.5 million
11 Julho 2023 - 6:33PM
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 two Wawa properties for $2.5 million. The properties are located
in strong retail corridors in New Jersey and are corporate-operated
under a long-term, triple net lease with a weighted average of 1.4
years of term remaining. The transaction was priced at a 6.7% cap
rate on rent as of the closing date, 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/20230711537354/en/
Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
Four Corners Property (NYSE:FCPT)
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