Market Overview

FCPT Announces Acquisition of a Buffalo Wild Wings Restaurant Property for $1.7 million

Share:

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust
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 $1.7 million. The property is located in Tennessee and is
occupied under a triple-net lease guaranteed by Buffalo Wild Wings'
corporate entity. The lease has approximately 6 years of term remaining,
which includes a 5-year lease extension negotiated by FCPT prior to
closing. The transaction was priced at a 7.5% going-in cash cap rate,
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, on a net basis, for use in the
restaurant and related food services industry. Additional information
about FCPT can be found on the website at http://www.fcpt.com/.

View Comments and Join the Discussion!