FCPT Announces Acquisition of a Chili’s Restaurant Property for $2.0 Million

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis restaurant property for $2.0 million.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, March 26, 2021
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Tags: 
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Leasing, NNN lease, Real property law, NNN, Finance
Geotags: 
California, Virginia, United States, MILL VALLEY
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FCPT
Summary
Key Points: 
  • Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis restaurant property for $2.0 million.
  • The property is located in a strong retail corridor in Virginia and is occupied under a triple net lease by a franchisee operator with approximately seven years of term remaining.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
  • The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.


Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Chili’s restaurant property for $2.0 million. The property is located in a strong retail corridor in Virginia and is occupied under a triple net lease by a franchisee operator with approximately seven years of term remaining. The transaction was priced at a 6.6% going-in cash capitalization rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

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