Four Corners Property Trust announced the acquisition of a GreatWater 360 Auto Care property for $2.3 million via sale-leaseback. The property is located in a highly trafficked corridor in Minnesota and is corporate-operated under a long term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
Four Corners Property Trust, Inc. is a real estate investment trust (REIT) primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company's segments are real estate operations and restaurant operations. Its real estate operations segment consists of rental revenues primarily generated by leasing restaurant properties to tenants through net lease arrangements under which the tenant is primarily responsible for ongoing costs relating to the properties. Its restaurant operations segment is conducted through a taxable REIT subsidiary and consists of its Kerrow Restaurant Operating Business. The Kerrow Restaurant Operating Business consists of seven LongHorn Steakhouse restaurants located in the San Antonio, Texas area. Its properties are located in Florida, Texas, Georgia, Ohio, Illinois, Indiana, Michigan, Pennsylvania, Wisconsin, Alabama, Minnesota, Arkansas, Louisiana, New York, Arizona, Nevada, Mississippi, and Colorado, among others.
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ESG MSCI
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