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 (“FCPT” or the “Company”), is pleased to announce the
acquisition of a McAlister’s Deli property for $2.4 million. The
property is located in Texas and is a follow-on transaction to the other
three McAlister’s Deli properties announced in January and February,
occupied under the same triple-net master lease with 15-year term. The
transaction was priced at a going-in cash cap rate of 6.75%, exclusive
of transaction costs. The tenant is one of the largest McAlister’s Deli
franchisees with a strong track record within the system. The restaurant
is brand-new construction and well located within a highly-trafficked
location.
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 http://www.fcpt.com/.
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Four Corners Property Trust
Bill Lenehan, 415-965-8031
CEO
Gerry
Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust, Inc.