FCPT Announces Acquisition of a Popeyes Restaurant Property from Seritage Transaction for $1.6 Million
Four Corners Property Trust (NYSE:FCPT) has acquired a Popeyes restaurant property in South Carolina for $1.6 million, part of a larger transaction with Seritage. The property, which has a lease term of approximately 14 years, is located in a high-traffic area. This acquisition brings the total number of properties acquired from Seritage to 19, amounting to $59 million. This strategic purchase is aligned with FCPT's goal of expanding its portfolio in the restaurant and retail sectors.
- Acquisition of high-quality Popeyes property for $1.6 million.
- Total of 19 properties acquired from Seritage, valued at $59 million.
- Property situated in a highly trafficked area, enhancing potential profitability.
- Remaining lease term of approximately 14 years provides revenue stability.
- 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 Popeyes restaurant property for
Inclusive of today’s acquisition, FCPT has acquired a total of 19 properties for
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 www.fcpt.com.
