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FCPT Announces Acquisition of a Springfield Clinic Property for $3.5 Million

FCPT
  • Four Corners Property Trust (FCPT) acquired a Springfield Clinic property for $3.5 million.
  • Springfield Clinic is a physician-led organization with over 650 practitioners serving central Illinois.
  • The property is located in a strong Illinois retail corridor.
  • The asset is corporate-operated under a new triple net lease with approximately 15 years remaining.
  • The transaction was priced at a 6.7% cap rate on rent as of the closing date, exclusive of transaction costs.
  • FCPT is headquartered in Mill Valley, CA, and focuses on owning, acquiring, and leasing restaurant and retail properties.