Real Estate Company, Four Corners Property Trust, acquires Left Lane Auto property in Mississippi for a sum of $3 Million.
In a significant move, Four Corners Property Trust (NYSE:FCPT) has expanded its portfolio in the auto service sector by acquiring a newly constructed property located in Mississippi. The property, which serves as an autozone service centre, was purchased for $3 million.
The property is leased to Left Lane Auto, a company that operates an autotrader business. The lease is a long-term triple net lease, providing stability and predictability for Four Corners Property Trust.
The autozone service property is situated in a strong retail corridor, ensuring a steady flow of customers. The location in Mississippi is strategically placed to cater to the needs of local residents and businesses alike.
While the name of the real estate developer who originally acquired the building was not provided in the search results, the acquisition by Four Corners Property Trust marks a new chapter for the property.
Left Lane Auto, the tenant for the property, is a reputable name in the cars service industry. The company's presence in the property further solidifies its status as a prime location for autozone businesses.
The acquisition of this property is another step forward for Four Corners Property Trust in its pursuit of diversifying its portfolio. With this addition, the company continues to demonstrate its commitment to investing in high-quality properties that offer long-term growth potential.
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