FCPT Announces Acquisition of a Whataburger Property for $1.2 million
November 14 2022 - 6:08PM
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 a Whataburger property for $1.2 million. The property is in a
highly trafficked corridor in Florida and is corporate-operated
under a triple net lease with approximately three years of term
remaining. The transaction was priced at a 6.3% cap 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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version on businesswire.com: https://www.businesswire.com/news/home/20221114006066/en/
Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
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