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FCPT Announces Sale-Leaseback of a Jiffy Lube Property for $1.6 Million
December 31, 2020 GMT
MILL VALLEY, Calif. (BUSINESS WIRE) Dec 31, 2020
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Jiffy Lube property for $1.6 million via a sale-leaseback transaction. The property is located in a strong retail corridor in Indiana and is occupied under a new triple net lease by a franchisee operator (Hoosier Automotive Services) with 15 years of term remaining. The transaction was priced at a going-in cash capitalization in range with previous FCPT transactions. ....

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