Four Corners Continues Its Acquisition Spree With a NAPA Property

Group 1 - Four Corners Property Trust (FCPT) has acquired a NAPA Auto Parts property for $2.0 million, emphasizing its portfolio expansion to maximize shareholder wealth [1] - The newly acquired property is located in a high-traffic area in New York, is corporate-operated, and secured under triple-net leases with an average remaining term of five years [1] - The acquisition was executed at a capitalization rate of 7.2% on rent net of transaction costs [1] Group 2 - FCPT has been actively acquiring properties, including Raising Cane's, Dollar General's, and Jiffy Lube's properties for $6.6 million in Texas and Florida, secured under long-term triple-net leases with an average remaining term of eight years [2] - In November, FCPT acquired a Miller's Ale House property in Georgia for $3.8 million, which is corporate-operated under a long-term net lease with approximately 11 years remaining [3] Group 3 - From the beginning of 2024 through October 30, FCPT has acquired 42 properties worth $132 million at a capitalization rate of 7.2% on rents, broadening its footprint and ensuring portfolio diversification [5] - These strategic acquisitions allow FCPT to gain exposure to growing industries and establish long-term lease agreements with strong tenants [5] Group 4 - Over the past six months, FCPT's shares have increased by 16.0%, outperforming the industry's growth of 15.3% [6]