FCPT Announces Acquisition of an Olive Garden Property for $3.4 Million
The property is located in a strong retail corridor in Indiana and is corporate-operated under a long-term, triple net lease with approximately nine years of term remaining.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of an Olive Garden property for $3.4 million. The property is located in a strong retail corridor in Indiana and is corporate-operated under a long-term, triple net lease with approximately nine years of term remaining. The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs.About FCPT
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.
