{"id":406761,"date":"2020-12-30T18:47:12","date_gmt":"2020-12-30T23:47:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=406761"},"modified":"2020-12-30T18:47:12","modified_gmt":"2020-12-30T23:47:12","slug":"fcpt-announces-acquisition-of-a-six-property-portfolio-for-12-0-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-acquisition-of-a-six-property-portfolio-for-12-0-million\/","title":{"rendered":"FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million <\/b><\/p>\n<p>MILL VALLEY, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFour Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the acquisition of a six property portfolio for $12.0 million. The properties include 7-Eleven, Advance Auto Parts, Starbucks, and Verizon (3) branded properties. They are located in highly trafficked corridors in CO, IN, NM, SC, TN, and WI. The Starbucks, 7-Eleven, and Advance Auto Parts properties are corporate-operated. The Verizon properties are operated by large franchisees with over 700 locations (Cellular Sales of Knoxville and The Cellular Connection). The portfolio has approximately six years of weighted average term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.\n<\/p>\n<p><b>About FCPT<\/b><\/p>\n<p>\nFCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fcpt.com&amp;esheet=52354947&amp;newsitemid=20201230005386&amp;lan=en-US&amp;anchor=www.fcpt.com&amp;index=1&amp;md5=491b2a1427659001faed925535c88f12\">www.fcpt.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201230005386r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201230005386\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201230005386\/en\/<\/a><\/span><\/p>\n<p>\nFour Corners Property Trust:<br \/>\n<br \/>Bill Lenehan, 415-965-8031<br \/>\n<br \/>CEO<\/p>\n<p>Gerry Morgan, 415-965-8032<br \/>\n<br \/>CFO\n<\/p>\n<p>\n\u00a0\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> REIT Restaurant\/Bar Retail Commercial Building &amp; Real Estate Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million MILL VALLEY, Calif.&#8211;(BUSINESS WIRE)&#8211; Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the acquisition of a six property portfolio for $12.0 million. The properties include 7-Eleven, Advance Auto Parts, Starbucks, and Verizon (3) branded properties. They are located in highly trafficked corridors in CO, IN, NM, SC, TN, and WI. The Starbucks, 7-Eleven, and Advance Auto Parts properties are corporate-operated. The Verizon properties are operated by large franchisees with over 700 locations (Cellular Sales of Knoxville and The Cellular Connection). The portfolio has approximately six years of weighted average &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-acquisition-of-a-six-property-portfolio-for-12-0-million\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-406761","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-acquisition-of-a-six-property-portfolio-for-12-0-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FCPT Announces Acquisition of a Six Property Portfolio for $12.0 million MILL VALLEY, Calif.&#8211;(BUSINESS WIRE)&#8211; Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the acquisition of a six property portfolio for $12.0 million. The properties include 7-Eleven, Advance Auto Parts, Starbucks, and Verizon (3) branded properties. They are located in highly trafficked corridors in CO, IN, NM, SC, TN, and WI. The Starbucks, 7-Eleven, and Advance Auto Parts properties are corporate-operated. The Verizon properties are operated by large franchisees with over 700 locations (Cellular Sales of Knoxville and The Cellular Connection). 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