Four Corners Ppty

Four Corners Property Trust has acquired a 7‑Eleven property in a retail corridor in Pennsylvania for $1.5 million. The asset is under a long‑term triple‑net lease with about ten years remaining and is operated directly by 7‑Eleven. The purchase implies a cap rate of 6.9% based on the current rent (excluding transaction costs). Four Corners Property Trust is a REIT focused on net‑leased restaurant and retail properties. » More on de.investing.com

Four Corners Property Trust has acquired a supermarket site operated by D&W Fresh Market in Michigan for $6.9 million. The property is in a high-traffic location and is operated by the tenant under a long-term net lease. The transaction closed at a cap rate consistent with prior acquisitions; exact details of the rate were not disclosed. » More on de.investing.com

Four Corners Property Trust has acquired a Buffalo Wild Wings property in a prominent retail location in Idaho for $2.9 million. The property is leased under a tenant-operated triple-net lease with roughly seven years remaining. The purchase price equates to an initial yield of 7.0% based on the rent at contract signing, excluding transaction costs. » More on de.investing.com

Four Corners Property Trust has acquired a newly constructed retail property in South Carolina, occupied by Left Lane Auto, for $3.1 million. The property is located in an established retail area and is subject to a triple-net lease with a remaining term of around 15 years. The purchase price corresponds to an initial yield (cap rate) of 6.9% based on current rent; the asset is operated directly by the company. » More on de.investing.com

Four Corners Property Trust acquired a Burger King property in Minnesota for $1.6 million. The asset is leased to the Dhanani Group under a triple-net lease with around six years remaining and was valued at an initial yield of 7.4% (excluding transaction costs). The acquisition expands the REIT’s net-lease portfolio; the company most recently reported a market capitalization of $2.89 billion, revenue growth of 10% over the last twelve months and a dividend yield of 5.5%. » More on de.investing.com