FCPT Announces Acquisition of a Buffalo Wild Wings Property for $1.4 Million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired a corporate-operated Buffalo Wild Wings restaurant in North Carolina for $1.4 million. The property, secured under a triple-net lease, has approximately four years remaining on the term. The acquisition is priced at a 6.4% cash cap rate, exclusive of transaction costs, marking a strategic move to expand FCPT's portfolio in the restaurant sector.

Positive

• Acquired a corporate-operated Buffalo Wild Wings property for $1.4 million, enhancing portfolio.
• Property under a triple-net lease, ensuring stable rental income.
• Acquisition priced at a 6.4% cash cap rate, indicating favorable terms.

Negative

• None.

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 $1.4 million. The property is located in North Carolina and is occupied under a triple-net lease with approximately four years of term remaining. The transaction was priced at a 6.4% cash cap rate, exclusive of transaction costs.

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 seeks to grow its portfolio by acquiring additional real estate to lease for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at http://www.fcpt.com/.