FCPT Announces Acquisition of a Chili’s Property for $3.2 Million

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis restaurant property for $3.2 million.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, October 15, 2021
Information
Tags: 
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, NYSE, Ownership, Acquisition, CA, Company
Geotags: 
California, United States, MILL VALLEY, MISSOURI
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FCPT
Summary
Key Points: 
  • Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis restaurant property for $3.2 million.
  • The property is located in a strong retail corridor in Missouri and is occupied under a new triple net lease by a franchisee operator with 20 years of term remaining and 1.5% annual rent increases.
  • The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties.


Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Chili’s restaurant property for $3.2 million. The property is located in a strong retail corridor in Missouri and is occupied under a new triple net lease by a franchisee operator with 20 years of term remaining and 1.5% annual rent increases. The transaction was priced at a 6.5% 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 ownership, acquisition and leasing of restaurant and retail 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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