Four Corners Property Trust (FCPT) completed a $1.2 million sale‑leaseback of a GreatWater 360 Auto Care location in Indiana on January 9 2026. The transaction adds a long‑term, triple‑net lease to FCPT’s portfolio, giving the company a stable, predictable income stream from a tenant that operates a network of full‑service auto repair shops across the Midwest and Texas.
The GreatWater 360 Auto Care brand is headquartered in Michigan and operates roughly 150 locations. The Indiana property sits on a high‑traffic corridor, a key factor in FCPT’s selection of sites that deliver strong foot traffic and tenant resilience. While the exact city, lease term, and capitalization rate were not disclosed, the deal aligns with FCPT’s strategy of acquiring high‑quality, net‑leased assets in essential retail and service sectors.
FCPT’s Q3 2025 results showed a continued acceleration in its portfolio diversification. The company reported a 12% increase in adjusted funds from operations (AFFO) per share and a 9% rise in rental revenue year‑over‑year, driven by acquisitions outside the restaurant sector. The GreatWater 360 Auto Care acquisition reinforces this trend, adding a tenant in a sector that is generally resilient to economic cycles and e‑commerce disruption.
From a strategic perspective, the transaction expands FCPT’s presence in the automotive service industry, a market that benefits from steady demand for maintenance and repair. The triple‑net lease structure means the tenant is responsible for property taxes, insurance, and maintenance, reducing FCPT’s operating costs and enhancing cash‑flow predictability.
Although the announcement did not trigger a measurable market reaction, the deal is consistent with FCPT’s broader acquisition activity, which totaled approximately $318 million across 105 properties in 2025. The company’s focus on essential services and its conservative leverage profile suggest that the acquisition will support long‑term value creation.
Overall, the transaction represents a strategic fit for FCPT’s portfolio, strengthens its exposure to a stable, service‑based tenant, and continues the company’s trajectory of disciplined growth in essential retail and service sectors.
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