Four Corners Property Trust Inc. $(FCPT)$ has announced the acquisition of a Christian Brothers Automotive property through a sale-leaseback arrangement for $4.3 million. This property is situated in a high-traffic retail corridor in Illinois, benefiting from strong local demographics. The property is under a long-term lease guaranteed by the corporate entity, and the transaction was priced at a cap rate consistent with FCPT's previous transactions. This acquisition aligns with FCPT's strategy of owning and acquiring high-quality, net-leased restaurant and retail properties. The announcement was made by FCPT.
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