FCPT Announces Acquisition of a Buffalo Wild Wings Restaurant Property for $3.6 million
17 July 2018 - 8:22AM
Business Wire
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-leased Buffalo
Wild Wings restaurant property for $3.6 million. The property is
located in Austin, TX, and is occupied under a triple-net lease
with approximately 6 years of term remaining and a rent escalation
of 2.0% annualized. The transaction was priced at a 6.9% going-in
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, on a net basis, for
use in the restaurant and related food services industry.
Additional information about FCPT can be found on the website
athttp://www.fcpt.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20180716005891/en/
Four Corners Property Trust:Bill Lenehan, 415-965-8031CEOorGerry
Morgan, 415-965-8032CFO
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