FCPT Announces Acquisition of a Chili's Restaurant in New York for Under $1 Million
The property is located in New York and is corporate-operated under a triple net lease with approximately four years of term remaining.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a Chili’s property for under $1 million. The property is located in New York and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.
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.
