Four Corners Property Trust (FCPT) announced the purchase of a VCA Animal Hospital location in Michigan for $3.0 million. The transaction adds a long‑term, triple‑net lease to FCPT’s portfolio and is part of the company’s ongoing strategy to acquire high‑quality, credit‑worthy tenants in essential‑service sectors.
The lease is a long‑term triple‑net arrangement, with a cap rate of 6.6% on rent as of the closing date. The tenant, VCA Animal Hospitals, is a corporate‑operated facility that is part of Mars Petcare, a well‑established player in the pet‑care industry. The property sits in a highly trafficked corridor, providing a stable and predictable income stream for FCPT.
FCPT has previously acquired VCA properties, including a $3.4 million purchase in New Jersey in September 2025 and a $5.8 million purchase in New York in December 2025. These prior acquisitions demonstrate a deliberate focus on VCA as a tenant and illustrate the company’s broader diversification into essential services beyond its traditional restaurant holdings.
The addition of this Michigan VCA property strengthens FCPT’s portfolio of durable, essential‑service assets. By expanding its exposure to the pet‑care sector, FCPT reinforces its commitment to long‑term, credit‑worthy tenants and supports its strategy of disciplined, accretive acquisitions in high‑quality markets.
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