FCPT Announces Acquisition of a Longhorn Steakhouse Property for $2.0 Million
The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a Longhorn Steakhouse property for $2.0 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease. 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.