FCPT Announces Acquisition of Two Buffalo Wild Wings Properties for $10.2 Million
September 26 2022 - 4:05PM
Business Wire
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 Buffalo Wild Wings properties for $10.2 million. The
properties are located in strong retail corridors in New Jersey and
are franchisee-operated. They are occupied under a triple net
master lease with 20 years of term remaining and annual rent
increases of 2%. The transaction was priced at a 6.4% cap rate on
rent as of the closing date, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220926005729/en/
Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
Four Corners Property (NYSE:FCPT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Four Corners Property (NYSE:FCPT)
Historical Stock Chart
From Apr 2023 to Apr 2024