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 a corporate-leased Buffalo Wild Wings restaurant property for $3.6 million. The property is located in Austin, TX, and is occupied under a triple-net lease with approximately 6 years of term remaining and a rent escalation of 2.0% annualized. The transaction was priced at a 6.9% going-in cash cap rate, exclusive of transaction costs.
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