FCPT Announces Acquisition of Two Service Kings for $6.2 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 two Service King properties for $6.2 million. The properties are located in highly trafficked corridors in Texas and are both corporate-operated under triple net leases with twenty years of term remaining. The transaction was priced at a 6.2% capitalization 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 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
Gerry Morgan, 415-965-8032
KEYWORDS: United States North America California Texas
INDUSTRY KEYWORDS: REIT Restaurant/Bar Retail Commercial Building & Real Estate Construction & Property