FCPT News & Events

Four Corners Property Trust (FCPT) announced the acquisition of a Drilling Tools International property for $4.7M. Drilling Tools International (DTI) is a publicly traded oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. The property is a drilling equipment manufacturing and rental facility located in a strong industrial corridor in Louisiana and corporate-operated under a long-term, triple net lease with approximately 11 years of term remaining. The transaction was priced at a 7.1% cap rate including rent credits received at closing and exclusive of transaction costs.

Four Corners Property Trust announced the acquisition of two Arby's properties for $3.4M. The properties are located in strong retail corridors in Indiana and Kentucky and corporate-operated under long-term, triple net leases with approximately seven years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust announced the acquisition of a Springfield Clinic property for $3.5M. Springfield Clinic is a physician-led medical organization with more than 650 physicians and advanced practitioners serving central Illinois. The property is located in a retail corridor in Illinois and corporate-operated under a new triple net lease with approximately 15 years of term remaining. The transaction was priced at a 6.7% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust announces the acquisition of a Tires Plus property for $1.7 million. The property is located in a strong retail corridor in Minnesota and is corporate-operated under a triple net lease with approximately five years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.