1. FCPT acquired a Buffalo Wild Wings property for $2.8 million. 2. The property is in a high-traffic area of New Mexico. 3. The acquisition has a 6.8% cap rate on rent. 4. The lease has approximately nine years remaining. 5. This expands FCPT's portfolio of net-leased restaurant properties.
The acquisition at a favorable cap rate indicates strategic growth potential. Historical examples show that similar acquisitions can positively impact stock performance.
The acquisition enhances FCPT's portfolio, indicating future growth and enhancing investor confidence.
This acquisition supports future revenue stability, likely benefiting investors over time.
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Buffalo Wild Wings property for $2.8 million. The property is located in a highly trafficked corridor in New Mexico and is corporate-operated under a long term, triple net lease with approximately nine years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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 retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Category: Acquisition
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO