Mill Valley, Calif.-based Four Corners Property Trust calls itself “among the nation’s leading owners of restaurant and retail real estate.” The investor looks for triple net lease restaurants and other properties, including auto repair shops, collision repair, convenience stores and medical retail, on sites ranging in value from $1 million to $300 million. (On a triple net lease property, the tenant pays rent plus other expenses, such as taxes and maintenance.)
The parcels purchased are found at 2560 to 2568 Miamisburg-Centerville Road (Ohio 725) in Miami Twp. The purchase appears to include the former Sears auto service garage/restaurant property separate from the mall.
The seller had owned the site since 2015. Sears closed its Dayton Mall location in Miami Twp. in November 2018, with 45 other locations nationwide at the time.
That 2018 announcement came less than two weeks before Elder-Beerman closed its location at the Dayton Mall.
A message seeking comment was sent to FCPT Thursday.
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