FCPT buys Chili’s Restaurant property for $3.5 million

FCPT buys Chili’s Restaurant property for $3.5 million

MILL VALLEY: Four Corners Property Trust (NYSE: FCPT) announced the acquisition of a Chili’s restaurant property for $3.5 million.

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 property is located in a dense corridor in South Carolina and is occupied under a triple net lease by a franchisee operator with approximately four years of term remaining. The transaction was priced at a 6.8% capitalization rate, exclusive of transaction costs.

FCPT seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. www.fcpt.com


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