LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust (“FSCT” or the “Company”) announced on October 2, 2014 that it closed on the acquisition of over $34 million of single tenant net lease assets in September, including an industrial property and four retail assets.
The 226,756 square foot industrial asset is net leased to Gander Mountain Company, Inc. and is located in Lebanon, Indiana. The retail assets include a 71,917 square foot Academy Sports store in Mt. Juliet, Tennessee, a 71,541 square foot Academy Sports store in Jonesboro, Arkansas, and two 9,026 square foot Dollar Generals located in Yulee and Middleburg, Florida. The properties are all subject to long-term triple net leases.
“The recently acquired assets are consistent with our investment strategy of building a quality net lease portfolio by acquiring strategically important, single tenant properties leased on a long-term basis,” said Bob Micera, Chief Investment Officer of Four Springs Capital Trust.
Cindy Daly, Director of Acquisitions, adds “the strong locations, solid real estate fundamentals and triple-net leases make for excellent additions to the growing portfolio.”
Four Springs Capital Trust is a private real estate investment trust focused on acquiring a diversified portfolio of retail, industrial, office and medical properties net leased to investment grade and other creditworthy tenants under long-term leases. The REIT’s portfolio consists of 41 properties located in 17 states.
For more information about this announcement, please contact Bob Micera, Chief Investment Officer, at 480-477-4835, or Cindy Daly, Director of Acquisitions, at 877-449-8828 X 7348 or email@example.com.