FCPT Announces Acquisition of a Cheesecake Factory Property and a Dual-tenant Starbucks and AT&T Property for $12.3 Million
December 02 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 a Cheesecake Factory property and a dual-tenant Starbucks and
AT&T property for $12.3 million. The properties are located in
a highly trafficked corridor in Kansas and are corporate-operated
under net leases with a weighted average of approximately seven
years of term remaining. The transaction was priced at a 6.6% 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221202005419/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 Aug 2024 to Sep 2024
Four Corners Property (NYSE:FCPT)
Historical Stock Chart
From Sep 2023 to Sep 2024
