FCPT Announces Sale-Leaseback of Two Hawaiian Bros Properties from Stine Enterprises for $5.9 Million
MILL VALLEY, Calif.–(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 Hawaiian Bros properties for $5.9 million from Stine Enterprises via sale-leaseback. Hawaiian Bros is a fast-casual restaurant concept specializing in fresh-food plate lunches with more than 60 locations nationwide, mostly in Kansas City, Dallas, and Phoenix. The properties are newly constructed and located in strong retail corridors in Arizona and Texas and are franchisee-operated under long term, triple net leases. 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.
Category: Acquisition
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: REIT Restaurant/Bar Retail Commercial Building & Real Estate Construction & Property
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