FCPT Announces Acquisition of Two Buffalo Wild Wings Properties for $10.2 Million

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 two Buffalo Wild Wings properties for $10.2 million. The properties are located in strong retail corridors in New Jersey and are franchisee-operated. They are occupied under a triple net master lease with 20 years of term remaining and annual rent increases of 2%. The transaction was priced at a 6.4% cap rate on rent as of the closing date, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220926005729/en/

The Four Corners Property Trust Stock at the time of publication of the news with a fall of -1,82 % to 25,29USD on NYSE stock exchange (26. September 2022, 21:54 Uhr).