FCPT Announces Acquisition of a Buffalo Wild Wings Property for $1.5 Million
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a corporate-operated Buffalo Wild Wings restaurant property for $1.5 million. The property is located in Georgia and is occupied under a triple-net lease with approximately 7 years of term remaining. The transaction was priced at a 6.8% going-in cash cap rate, exclusive of transaction costs.
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 http://www.fcpt.com/.
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
View source version on businesswire.com: https://www.businesswire.com/news/home/20190801005936/en/