Four Corners Property Trust Announces Acquisition of Three Buffalo Wild Wings Restaurants for $7.9 million

Company Release - 9/15/2016 4:30 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 the real estate of three Buffalo Wild Wings restaurants in Galesburg and Macomb, Illinois and Burlington, Iowa for $7.9 million. FCPT funded the acquisition with cash on hand. The restaurants are 100% occupied under triple-net leases with 12 years of term remaining, and the transaction closed at a going-in cash cap rate of 6.5%, exclusive of transaction costs. The properties are well-located within their respective communities and have strong rent coverages.

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
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032

Source: FCPT