The acquisition adds a triple net lease property with eight years remaining to FCPT’s real estate portfolio.
Four Corners Property Trust (FCPT) has acquired a Gerber Collision property in North Carolina for $3.5 million. The transaction involves a corporate-operated facility under a triple net lease structure.
The lease agreement includes approximately eight years remaining, providing a stable income stream for FCPT. The deal expands the company’s portfolio of net lease properties, which typically involve tenants responsible for taxes, insurance, and maintenance.
No immediate market reaction was disclosed following the announcement.