FCPT Announces Acquisition of a Panera Bread Property for $2.1 million
MILL VALLEY, Calif.–(BUSINESS WIRE)–
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Panera Bread property for $2.1 million. The property is located in a highly trafficked retail corridor in Georgia and is corporate-operated under a triple net lease with approximately eight years of term remaining. The transaction was priced at a 6.4% going-in cash capitalization 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 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
KEYWORDS: United States North America California Georgia
INDUSTRY KEYWORDS: Retail Restaurant/Bar Other Retail Other Construction & Property Commercial Building & Real Estate Construction & Property REIT
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