FCPT Announces Sale-Leaseback of a Tire Discounters Property for $1.8 Million

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Tire Discounters property for $1.8 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, with its brands currently operating over 200 locations and growing. The property is in Kentucky, and is corporate operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.