Saturday, February 24, 2024
spot_img
HomeNewsBusiness WireFCPT Announces Acquisition of Two Buffalo Wild Wings Properties for $10.2 Million

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

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 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.

Contacts

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

spot_img
RELATED ARTICLES
spot_img
spot_img
spot_img

Caribbean News

The war in Ukraine is impacting St Lucia

By Caribbean News Global contributor VIEUX-FORT, St Lucia - Saint Lucia now confronts a challenge arising from the war in Ukraine on the heels of...

Global News

Business leaders call for greater economic dynamism with people at the center of the APEC agenda

By APEC Business Advisory Council KUALA LUMPUR, Malaysia - The APEC Business Advisory Council (ABAC) meeting in Kuala Lumpur, Malaysia expressed deep concerns about the growing...