Four Corners Property Trust announces the acquisition of nine car wash properties for $40M from a top five operator via a sale-leaseback. The properties are located in strong retail corridors in Florida, Indiana, Louisiana, Ohio, Oklahoma, and South Carolina. The sites are corporate-operated under a long-term, triple net master lease. The transaction was priced at a cap rate in range with previous FCPT transactions. Our tenant has requested confidentiality around disclosure of the brand name.
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