Four Corners Property Trust Expands Portfolio with $4.7 Million Acquisition

Four Corners Property Trust Inc (FCPT) acquired a $4.7 million portfolio of automotive service properties in Maine and Vermont via a sale-leaseback transaction. The properties are under long-term, triple net leases with approximately 20 years remaining. The acquisition aligns with FCPT's strategy of expanding its portfolio with properties in strong retail corridors. However, the concentration in the Northeast may expose FCPT to regional economic fluctuations.