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FCPT Announces Acquisition of a Chuy's Property for $2.9 Million

1. FCPT acquired a Chuy's property for $2.9 million, enhancing its portfolio. 2. Chuy's, known for Tex-Mex, is now under Darden Restaurants' ownership.

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Why Bullish?

The acquisition of a well-known restaurant chain property can stabilize revenue streams for FCPT. Historically, acquisitions of popular chains have led to positive stock performance due to increased cash flow stability.

How important is it?

The significance of acquiring a property from a recognizable chain like Chuy's is high for FCPT. It solidifies FCPT's position in the market and can lead to future strategic acquisitions.

Why Long Term?

This acquisition will contribute to FCPT’s growth through long-term lease agreements, increasing property value over time. Previous acquisitions of reputable brands have shown benefits in sustained revenue over several years.

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DRI
MILL VALLEY, Calif.--(BUSINESS WIRE)--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 Chuy's property for $2.9 million. Chuy's, recently acquired by Darden Restaurants, is a casual dining restaurant chain with over 100 locations across the United States known for its Tex-Mex cuisine. The pro.

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