MILL VALLEY, Calif.--(BUSINESS WIRE)--
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily 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 BJ’s Restaurant and Brewhouse property for $3.1 million from the Seritage transaction announced in October 2019 and expanded in August 2020. The property is located in Maryland within a highly trafficked and populated corridor and has approximately seven years of term. The transaction was priced at a cap rate in range with previous FCPT transactions.
Inclusive of today’s acquisition, FCPT has acquired a total of 15 properties for $48 million from Seritage.
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 for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200901006008/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
Source: Four Corners Property Trust