FCPT Announces Acquisition of a Left Lane Auto Property for $3.1 Million

FCPT Announces Acquisition of a Left Lane Auto Property for $3.1 Million

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 a Left Lane Auto property for $3.1 million. The property is newly constructed and located in a strong, highly trafficked retail corridor in South Carolina and corporate-operated under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.