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

  • Four Corners Property Trust (FCPT) acquired a Left Lane Auto property for $3.1 million.
  • The newly constructed property is located in a strong retail corridor in Alabama.
  • The asset operates corporate under a long-term triple net lease with 15 years of term remaining.
  • The transaction was priced at a 7.1% cap rate on rent as of the closing date, exclusive of transaction costs.
  • FCPT is a real estate investment trust headquartered in Mill Valley, CA, focused on net-leased restaurant & retail properties.