Four Corners Property Trust Announces Acquisition of Wendy’s Restaurant for $2.1 million

Company Release - 8/2/2016 4:41 PM ET

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality net leased restaurant properties, is pleased to announce the acquisition of a Wendy’s restaurant in Odessa, TX for $2.1 million. FCPT funded the acquisition with cash on hand. The restaurant is occupied under a triple-net lease with approximately 10 years of remaining term, and the transaction closed at a going-in cash cap rate of 6.5%, exclusive of transaction costs. The property is a strong performer in an attractive location, and the tenant is an experienced Wendy’s franchisee with strong credit.

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 will seek to grow its portfolio by acquiring additional real estate to lease, on a triple net basis, for use in the restaurant and related food services industry. Additional information about FCPT can be found on the website at

Four Corners Property Trust, Inc.
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032

Source: Four Corners Property Trust, Inc.