FCPT Announces Acquisition of a Starbucks Property for $1.2 million
MILL VALLEY, Calif.–(BUSINESS WIRE)–
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.
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 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/20201120005709/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
KEYWORDS: California Mississippi United States North America
INDUSTRY KEYWORDS: Retail Restaurant/Bar Other Construction & Property Commercial Building & Real Estate Construction & Property REIT
MEDIA: