Fcpt Announces Acquisition Of Two Vet Clinic Properties For $3.9 Million
08/24/21, 8:58 PM
Location
mill valley
Industry
real estate
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 two Pathway Vet Alliance properties for $3.9 million. The properties consist of a Thrive Vet Care property and a dual-tenant property that is anchored by Eye Care for Animals and includes a space of approximately 2,000 square feet that FCPT will lease to a new retail tenant. The properties are located in strong retail corridors in Illinois and Rhode Island and are occupied under net leases with a weighted average term of eight years remaining. The transaction was priced at a 6.6% going-in cash capitalization rate, exclusive of transaction costs.
Company Info
Location
Mill Valley, California, United States
Company info
Four Corners Property Trust (FCPT) is a real estate investment trust primarily engaged in the ownership, acquisition, and leasing of high-quality, net-leased 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.