FCPT Acquires Minnesota Property via Sale-Leaseback for $2.3 Million

Four Corners Property Trust (FCPT) has acquired a GreatWater 360 Auto Care property for $2.3 million via a sale-leaseback. The property, located in Minnesota, is corporate-operated under a long-term, triple net lease. The transaction was priced at a cap rate in line with previous FCPT deals. FCPT is a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties.