AP NEWS

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

August 8, 2018

MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug 8, 2018--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 source version on businesswire.com:https://www.businesswire.com/news/home/20180808005766/en/

CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA TENNESSEE

INDUSTRY KEYWORD: RESTAURANT/BAR REIT RETAIL CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Four Corners Property Trust

Copyright Business Wire 2018.

PUB: 08/08/2018 04:06 PM/DISC: 08/08/2018 04:06 PM

http://www.businesswire.com/news/home/20180808005766/en

AP RADIO
Update hourly