FCPT Announces Acquisition of an Outback Steakhouse Property for $2.4 Million
The property is located in a strong retail corridor in Indiana and is corporate-operated under a net lease with approximately 4 years of term remaining.
Four Corners Property Trust (NYSE:FCPT) announce dthe acquisition of an Outback Steakhouse property for $2.4 million. The property is located in a strong retail corridor in Indiana and is corporate-operated under a net lease with approximately 4 years of term remaining. The transaction was priced at a 6.8% going-in cash capitalization rate, exclusive of transaction costs.
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.
