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FCPT Announces Acquisition of a Buffalo Wild Wings Property for $2.4 million


Four Corners Property Trust (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 Buffalo Wild Wings restaurant property for $2.4 million. The property is located in Texas and is occupied under a double-net lease with approximately 3 years of term remaining. The transaction was priced at a 6.5% cash cap rate, inclusive of percentage rent paid and exclusive of transaction costs.

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 http://www.fcpt.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191028005729/en/