Four Corners Property Trust Acquires A Springfield Clinic Property for $3.5M
Four Corners Property Trust (NYSE: FCPT ), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Springfield Clinic property for $3.5 million. 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 strong 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 (NYSE: FCPT ), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Springfield Clinic property for $3.5 million.
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 strong 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.