FCPT Announces Acquisition of Chili’s and Verizon Outparcel Properties for $5.5 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 two outparcel properties leased to Chilis and Verizon for $5.5 million.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, February 25, 2022
Information
Tags: 
Retail, Restaurant, Bar, Commercial Building & Real Estate, Specialty, Construction & Property, REIT, Ownership, Acquisition, Verizon Communications, Company, CA, NYSE, Property management
Geotags: 
CALIFORNIA, UNITED STATES, NORTH AMERICA, COLORADO
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Organisation: 
FCPT
Stock Symbol: 
NYSE: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 two outparcel properties leased to Chilis and Verizon for $5.5 million.
  • The properties are both located in a strong retail corridor in Colorado and are corporate-operated under net leases with a weighted average of 7 years of term remaining.
  • The transaction was priced at a cap rate in range with previous FCPT transactions.
  • 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 two outparcel properties leased to Chili’s and Verizon for $5.5 million. The properties are both located in a strong retail corridor in Colorado and are corporate-operated under net leases with a weighted average of 7 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

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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