FCPT Announces Acquisition of a Carl's Jr. Property for $0.9 Million

Business Wire 7-Jun-2019 4:05 PM

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Carl's Jr. property for $0.9 million. The property is an outparcel to a mall located in Logan, Utah and is leased to the corporate tenant under a triple net lease with approximately 5 years of term remaining. The transaction was priced at a 7.0% going-in cash cap rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 related food services industry. Additional information about FCPT can be found on the website at http://www.fcpt.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190607005421/en/