Four Corners Property Trust (NYSE:FCPT), a real estate investment trust 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 $2.5 million. The property is located in Virginia and is occupied under a double-net lease with approximately nine years of term remaining. The transaction was priced at a 6.65% 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 related food services industry. Additional information about FCPT can be found on the website at https://www.fcpt.com/.
Four Corners Property Trust:
Bill Lenehan, 415-965-8031