Four Corners Property Trust has signed a definitive agreement for the purchase of 14 outparcel properties from PREIT for $29.9 million, priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.

The REIT completed the sale of the 99-room Topaz Hotel for $33 million.

The buildings were 100% occupied at the time of sale by Comcast and Bolton Medical.

Investors busy making net lease investments range from strictly passive and "hands-off" investors to highly sophisticated privately and publicly held real estate operators who see the asset type as consistent in generating levered and un-levered yields.