Four Corners Property Trust, a real estate investment trust that specializes in owning, acquiring, and leasing restaurant and retail properties, announced on Thursday that it has acquired three Express Oil Change & Tire Engineers locations. The deal was valued at $9.5 million.
The three properties are located along high-traffic corridors in Georgia, and they “are corporate-owned under long term, triple net leases with approximately 19 years of term remaining," according to a news release from FCPT.
Founded in 1979, Express Oil Change & Tire Engineers operates 389 locations across 19 states. The portfolio of FCPT now includes 1,221 properties in 47 states.
