05:36 PM EDT, 03/26/2024 (MT Newswires) -- Four Corners Property Trust ( FCPT ) said late Tuesday it has acquired the Heartland Dental property in Alabama for $2 million.

According to the real estate investment trust, the commercial property is located in a strong retail corridor and is corporate-operated under a net lease with around four years remaining on its term.

The deal was priced at a 7.7% cap rate on rent as of the closing date, excluding transaction costs, Four Corners said.