Four Corners Property Trust Announces Acquisition Of Two Wawa Properties For $2.5M
Portfolio Pulse from Benzinga Newsdesk
Four Corners Property Trust (FCPT) has acquired two Wawa properties in New Jersey for $2.5M. The properties are corporate-operated under a long-term, triple net lease with an average of 1.4 years of term remaining. The transaction was priced at a 6.7% cap rate on rent.
July 11, 2023 | 9:34 pm
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FCPT's acquisition of two Wawa properties could potentially increase its revenue stream, given the properties' strong retail location and long-term lease agreement.
The acquisition of the two Wawa properties by FCPT is a strategic move that could potentially increase its revenue stream. The properties are located in strong retail corridors in New Jersey and are corporate-operated under a long-term lease, which ensures a steady income for the company. The transaction was also priced at a 6.7% cap rate on rent, which is a good return on investment.
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