FCPT Announces Acquisition of Three WellNow Urgent Care Properties for $8.7 Million
MILL VALLEY, Calif.–(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 WellNow Urgent Care properties for $8.7 million from ComptonAddy. The properties are newly constructed and located in strong retail corridors in Ohio. They are corporate-operated under net leases with 10 years of term remaining. The transaction was priced at a 6.2% cap rate on rent as of the closing date, exclusive of transaction costs.
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.
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT