Company Announcements

FCPT Announces Acquisition of a Cheesecake Factory Property and a Dual-tenant Starbucks and AT&T Property for $12.3 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec. 2, 2022-- 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 a Cheesecake Factory property and a dual-tenant Starbucks and AT&T property for $12.3 million. The properties are located in a highly trafficked corridor in Kansas and are corporate-operated under net leases with a weighted average of approximately seven years of term remaining. The transaction was priced at a 6.6% cap rate, exclusive of transaction costs.

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.

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

Source: Four Corners Property Trust