Four Corners Property Trust
- Company typePublic
- Founded2015
- HeadquartersMill Valley, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
Four Corners Property Trust firmographics
Firmographics- Name
- Four Corners Property Trust
- Legal name
- Four Corners Property Trust, Inc.
- Website
- https://fcpt.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Where Four Corners Property Trust is headquartered
LocationHeadquarters
- HQ city
- Mill Valley
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Four Corners Property Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Rental Income: FCPT generates recurring rental revenue from tenants through triple net lease arrangements. Tenants pay base rent with annual escalations (typically 2%+ annually), and the company maintains high rent coverage metrics of 5.1x. Revenue grew 10.7% year-over-year to $75.67 million in Q4 2025.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Four Corners Property Trust product offering
Product offeringCore offering
Four Corners Property Trust is a real estate investment trust that acquires, owns, and leases net lease restaurant and retail properties to national brand operators under triple net lease arrangements. The company's portfolio spans restaurants, automotive service centers, medical retail/veterinary facilities, and other necessity-based retail, leased across 48 states to 180 brands with an average lease term of 6.7 years. Transaction sizes range from $1 million to $300+ million per deal with typical 45-day closing timelines.
Product overview
Four Corners Property Trust (FCPT) is a real estate investment trust (REIT) organized as a single unified platform focused on owning, acquiring, and leasing net lease restaurant and retail properties across the United States. The company's core offering consists of two main property categories: net lease restaurant properties and net lease retail properties (including automotive service, medical retail, and other retail locations). FCPT operates through a portfolio of 1,313 properties across 48 states, leased to 180 brands under triple net lease arrangements. Additionally, the company operates a subsidiary, Kerrow Holdings, which franchises LongHorn Steakhouse restaurants. The company does not offer modular or add-on products—the REIT's business model is focused exclusively on property acquisition and net lease arrangements.
Differentiator
Problem solved
Functional benefit
Brands
- Kerrow Holdings: Operating subsidiary that manages seven LongHorn Steakhouse restaurants in San Antonio, Texas area under franchise agreements with Darden Restaurants
Products and services
- Net Lease Restaurant Properties
Quantifiable outcome
- 99.6% portfolio occupancy rate
- +4 more outcomes
Companies that use Four Corners Property Trust
Customer profileNamed customers24 records
Segments4 records
Ideal customer profiles4 records
Four Corners Property Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Four Corners Property Trust partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Darden RestaurantscoreLong-standing relationship with Darden including property exchange transactions. Completed cashless property exchange transferring Michigan Bahama Breeze location for Nevada Olive Garden property. Ongoing backfill negotiations for ten Bahama Breeze properties being converted.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Four Corners Property Trust competitors and assessment
Company assessmentDirect peers
- Realty Income: Realty Income (NYSE: O) is the largest publicly-traded net lease REIT, acquiring and leasing freestanding single-tenant properties under triple-net leases with monthly dividends — directly comparable to FCPT's restaurant/retail triple-net lease model and monthly dividend shift.
- Agree Realty: Agree Realty (NYSE: ADC) is a net lease REIT focused on retail and restaurant properties leased to national tenants under long-term triple-net leases, with similar tenant-credit underwriting and portfolio diversification profile to FCPT.
- Essential Properties Realty Trust: Essential Properties Realty Trust (NYSE: EPRT) acquires and leases freestanding net lease properties to middle-market and necessity-based retail tenants; comparable to FCPT's diversification into veterinary, medical retail, and automotive service tenants.
- National Retail Properties: National Retail Properties (NYSE: NNN) is a net lease REIT focused on single-tenant retail properties, historically with strong restaurant exposure — directly overlapping with FCPT's traditional restaurant segment.
- Broadstone Net Lease: Broadstone Net Lease (NYSE: BNL) is a net lease REIT operating a diversified portfolio of single-tenant commercial properties across industrial, restaurant, office, and retail — comparable diversification strategy to FCPT's pivot beyond restaurants.
- Getty Realty: Getty Realty (NYSE: GTY) is a net lease REIT focused on convenience, automotive service, and restaurant properties — overlapping meaningfully with FCPT's automotive service (Jiffy Lube, Sun Auto) and casual dining tenant mix.
- Global Net Lease: Global Net Lease (NYSE: GNL) is a net lease REIT that acquires and manages single-tenant commercial properties under long-term leases; comparable triple-net structure to FCPT, though FCPT is more retail/restaurant focused.
- Store Capital: STORE Capital (formerly NYSE: STAG, taken private in 2023 by GIC/Oak Street) was a net lease REIT focused on sale-leaseback transactions with middle-market and necessity-based retail/operating tenants — directly comparable to FCPT's sale-leaseback growth strategy.
Broad incumbents
- W. P. Carey: W. P. Carey (NYSE: WPC) is a diversified net lease REIT with industrial, retail, office, and self-storage exposure; broader than FCPT but operating a comparable sale-leaseback and net lease acquisition platform.
- EPR Properties: EPR Properties (NYSE: EPR) is a specialty net lease REIT focused on experiential and necessity-based tenants including fitness, restaurants, and healthcare; comparable to FCPT's selective expansion into medical retail and veterinary.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Four Corners Property Trust social profiles
Digital presenceFour Corners Property Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Four Corners Property Trust leadership team
Management profileNumber of profiles
Profiles4 records
Four Corners Property Trust subsidiaries and ownership
Company hierarchySubsidiaries1 record
Four Corners Property Trust funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Four Corners Property Trust M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Four Corners Property Trust
What does Four Corners Property Trust do?
Four Corners Property Trust is a real estate investment trust that acquires, owns, and leases net lease restaurant and retail properties to national brand operators under triple net lease arrangements. The company's portfolio spans restaurants, automotive service centers, medical retail/veterinary facilities, and other necessity-based retail, leased across 48 states to 180 brands with an average lease term of 6.7 years. Transaction sizes range from $1 million to $300+ million per deal with typical 45-day closing timelines.
Is Four Corners Property Trust a public or private company?
Four Corners Property Trust is a public company. It is classified as public and is currently operating.
When was Four Corners Property Trust founded?
Four Corners Property Trust was founded in 2015. It employs 51 to 100 people.
Where is Four Corners Property Trust based?
Four Corners Property Trust is headquartered in Mill Valley, United States, in the North America region.
How does Four Corners Property Trust make money?
One revenue line is on record: rental Income.
Who are Four Corners Property Trust's main competitors?
Direct peers on record are Realty Income, Agree Realty, Essential Properties Realty Trust, National Retail Properties, Broadstone Net Lease, Getty Realty, Global Net Lease and Store Capital. Broad incumbents are W. P. Carey and EPR Properties.
Does Four Corners Property Trust have an API?
No public API is recorded for Four Corners Property Trust.