NEW YORK—American Realty Capital Trust IV Inc.’s board of directors have approved the acquisition of a CVS pharmacy located in New Castle, Pa. and a build-to-suit Dollar General store located in Buchanan Dam, Texas. The purchase price of the two properties is approximately $4.3 million, exclusive of closing costs, at a capitalization rate of 8.2 percent.
Comprised of 10,000 sq. ft., the CVS pharmacy is leased to CVS Caremark Corporation. The Dollar General store contains approximately 9,000 rentable sq. ft. and is leased to Dollar General Corporation.
American Realty Capital Trust IV Inc. expects to close on these properties using proceeds from its ongoing public offering following its initial escrow break.