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MILL VALLEY, Calif. ~ Four Corners Property Trust (FCPT), a real estate investment trust, has acquired three W.W. Williams properties for $10.3 million in a sale-leaseback transaction. Founded in 1912, W.W. Williams is one of the nation's largest truck and equipment servicers and the properties are located in Michigan and Ohio industrial corridors. The triple net leases have 15 years of term remaining, four 5-year options, and annual rent increases of 2%. The transaction was priced at a 7.1% cap rate exclusive of transaction costs. FCPT is pleased to announce the acquisition and looks forward to further growth opportunities in the future.
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