Four Corners Property Trust acquires NAPA Auto Parts property for $2.0M

Four Corners Property Trust (FCPT) announces the acquisition of a NAPA Auto Parts property for $2.0 million. The property is located in a highly trafficked corridor in New York and is under a corporate, triple net lease with approximately 5 years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs.