Four Corners Property Trust Inc. $(FCPT)$ has recently acquired an automotive service property for $5.8 million. The newly constructed property, leased to a national operator, is situated in a highly trafficked corridor in Texas. The acquisition is part of FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant and retail properties. The transaction was completed at a 6.8% cap rate based on the rent at the time of closing, excluding transaction costs.
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