Fcpt Announces Acquisition Of A Tires Plus Property For $2.3 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 Tires Plus property for $2.3 million. The property is located in a dense retail corridor in Illinois and is occupied under a triple net lease to the corporate entity with approximately one year of term remaining. The transaction was priced at a 6.7% capitalization rate, exclusive of transaction costs.