MILL VALLEY, Calif.--(BUSINESS WIRE)--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 two Buffalo Wild Wings restaurant properties leased to World Wide Wings, one of the largest Buffalo Wild Wings franchisees (over 65 units), for $6.6 million. The properties are located in Illinois, and are occupied under separate triple-net leases with approximately 14 years of term remaining and a rent escalation of 2.0% annualized. The transaction was priced at a 6.6% 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/.