FCPT Announces Acquisition of a Stanton Optical Property for $2.1 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) has acquired a Stanton Optical property in Wisconsin for $2.1 million. The property, located in a high-traffic retail area, is under a triple net lease with approximately seven years remaining. The acquisition was executed at a 6.5% cash capitalization rate. FCPT focuses on acquiring and leasing restaurant properties, seeking growth through strategic real estate investments in the restaurant and retail sectors.

Positive

• Acquisition of Stanton Optical property enhances portfolio.
• Property located in a high-traffic retail corridor.
• Triple net lease with approximately seven years remaining ensures steady cash flow.
• Acquisition priced at a competitive 6.5% cash cap rate.

Negative

• None.

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 Stanton Optical property for $2.1 million. The property is located in a highly trafficked retail corridor in Wisconsin and is occupied under a triple net lease to the brand’s corporate entity with approximately seven years of term remaining. The transaction was priced at a 6.5% going-in cash capitalization 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, 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/20210628005808/en/

FAQ

What is the value of the Stanton Optical property acquired by FCPT?

The Stanton Optical property was acquired for $2.1 million.

What type of lease is associated with the Stanton Optical property?

The property is under a triple net lease.

How long is the remaining lease term for the Stanton Optical property?

The lease has approximately seven years remaining.

What is the cash capitalization rate for the acquisition?

The acquisition was priced at a 6.5% going-in cash capitalization rate.

Where is the Stanton Optical property located?

The property is located in a highly trafficked retail corridor in Wisconsin.