FCPT Announces Acquisition of a Miller's Ale House Property for $3.8 Million
The property is located in a strong retail corridor in Georgia and is corporate-operated under a long term, net lease with approximately 11 years of term remaining.
Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a Miller's Ale House property for $3.8 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long term, net lease with approximately 11 years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and 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.