FCPT Acquires Illinois Circle K Property for USD 3.2m.
MANews-(C)2009-2021
California-based real estate investment trust Four Corners Property Trust (NYSE: FCPT), primarily engaged in the ownership and acquisition of net-leased restaurant and retail properties, has acquired a Circle K property for USD 3.2m, the company said.
The property is located in a dense corridor in Illinois and is corporate-operated with approximately three years of term remaining.
The transaction was priced at a 7.2% capitalization rate on current rent and exclusive of transaction costs.
FCPT, headquartered in Mill Valley...
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