FCPT Announces Acquisition of a Starbucks Property for $1.2 million
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 Starbucks property for $1.2 million. The property is located in a highly trafficked corridor in Mississippi and is occupied under a net lease with approximately five years of term remaining. The transaction was priced at a 6.50% going-in cash capitalization and exclusive of transaction costs.
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, 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.
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