Four Corners Property Trust acquires $1.6M Texas auto service site

The REIT bought the property at a 6.9% cap rate with about 7 years left on the triple net lease.

Mar. 3, 2026 at 9:39pm

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Four Corners Property Trust (FCPT), a real estate investment trust focused on restaurant and retail properties, has announced the $1.6 million acquisition of a property leased to a national automotive service operator in Texas. The property is located in a highly trafficked corridor and is under a long-term, triple net lease with approximately 7 years remaining.

Why it matters

The acquisition aligns with FCPT's strategy of growing its portfolio of net-leased restaurant and retail properties. The 6.9% cap rate and remaining lease term provide stable, long-term cash flow for the REIT.

The details

The $1.6 million property is leased to a national automotive service operator under a triple net lease with around 7 years left on the term. FCPT acquired the asset at a 6.9% capitalization rate, exclusive of transaction costs.

  • FCPT announced the acquisition on March 3, 2026.

The players

Four Corners Property Trust

A real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties.

Bill Lenehan

CEO of Four Corners Property Trust.

Patrick Wernig

CFO of Four Corners Property Trust.

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What they’re saying

“FCPT, headquartered in Mill Valley, CA , is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.”

— Four Corners Property Trust

The takeaway

This acquisition demonstrates FCPT's continued focus on growing its portfolio of net-leased restaurant and retail properties, which provide stable long-term cash flows for the REIT.