FCPT Announces Acquisition of Two WellNow Urgent Care Properties for $6.4 Million
November 29 2022 - 5:41PM
Business Wire
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 WellNow Urgent Care properties for $6.4 million from
ComptonAddy. The properties are newly constructed and located in
strong retail corridors in Ohio. They are corporate-operated under
net leases with 10 years of term remaining. The transaction was
priced at a 6.2% cap rate on rent as of the closing date, exclusive
of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate
investment trust primarily engaged in the ownership, acquisition
and leasing of 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.
Additional information about FCPT can be found on the website at
www.fcpt.com.
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
Four Corners Property (NYSE:FCPT)
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