Four Corners Property Trust (FCPT) announced the acquisition of a Belle Tire property in Ohio for $2.4 million on May 4, 2026. The asset is a corporate‑operated, triple‑net lease located in a strong retail corridor and carries a remaining lease term of approximately five years at a 7.2% cap rate based on current rent.
The purchase adds a high‑quality tenant to FCPT’s portfolio and supports the REIT’s strategy of adding essential‑service retail assets that generate recession‑resistant cash flows. Belle Tire, a regional tire retailer and auto‑service provider with more than 180 locations, fits the company’s focus on automotive service and quick‑service restaurant segments and helps diversify the REIT’s tenant mix away from its former parent, Darden Restaurants.
FCPT’s recent acquisition activity has been consistent with its mid‑size deal profile, averaging around $3 million per property. The $2.4 million purchase price and 7.2% cap rate align with that trend and reflect disciplined pricing in a rising‑rate environment. The transaction is expected to close shortly, adding a stable, long‑term lease to the portfolio and reinforcing FCPT’s disciplined acquisition pace.
The acquisition also comes amid FCPT’s broader capital strategy, which includes a $200 million term loan secured in April 2026 to fund its growth pipeline. In Q1 2026, the REIT reported revenue that beat expectations and EPS that some reports say met consensus estimates while others indicate a miss, underscoring the importance of the new asset in maintaining cash‑flow stability. The addition of Belle Tire further mitigates tenant concentration risk, which remains significant with Darden Restaurants and Olive Garden accounting for 44.5% and 31.5% of rents, respectively.
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