FCPT Announces Acquisition of Two Popeyes Properties for $4.7 Million
December 28 2023 - 5:48PM
Business Wire
Four Corners Property Trust (NYSE:FCPT), a real estate
investment trust primarily engaged in the ownership and acquisition
of high-quality, net-leased restaurant and retail properties
(“FCPT” or the “Company”), is pleased to announce the acquisition
of two Popeyes properties for $4.7 million. The properties are
located in strong retail corridors in Arizona and Illinois and are
occupied under a long-term, triple net lease with approximately 20
years of term remaining. The properties are in the final stages of
construction but rent will commence immediately at close. The
transaction was priced at a cap rate in range with previous FCPT
transactions.
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.
Additional information about FCPT can be found on the website at
www.fcpt.com.
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
Four Corners Property (NYSE:FCPT)
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