FCPT Announces Acquisition of a McAlister’s Deli Restaurant Property for $2.4 million
February 16 2017 - 5:18PM
Business Wire
Four Corners Property Trust (NYSE:FCPT), a real
estate investment trust engaged in the ownership of high-quality,
net-leased restaurant properties (“FCPT” or the “Company”), is
pleased to announce the acquisition of a McAlister’s Deli property
for $2.4 million. The property is located in Texas and is a
follow-on transaction from the other two McAlister’s Deli
properties announced in January, occupied under the same triple-net
master lease with 15-year term. The transaction was priced at a
going-in cash cap rate of 6.75%, exclusive of transaction costs.
The tenant is one of the largest McAlister’s Deli franchisees with
a strong track record within the system. The restaurant is an above
average performer for the brand and well located within a
highly-trafficked location.
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 will seek to grow its
portfolio by acquiring additional real estate to lease, on a
triple-net basis, for use in the restaurant and related food
services industry. Additional information about FCPT can be found
on the website at http://www.fourcornerspropertytrust.com/.
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Four Corners Property TrustBill Lenehan, 415-965-8031CEOGerry
Morgan, 415-965-8032CFO
Four Corners Property (NYSE:FCPT)
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