FCPT Announces Acquisition of a Carrabba's Italian Grill Property for $3.4 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 a Carrabba's Italian Grill property for $3.4 million. The property is located in a strong retail corridor in Florida and is corporate-operated under a triple net lease with approximately six years of term remaining. The transaction was priced at a 6.6% cap rate on rent as of the closing date and exclusive of transaction costs.

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 https://www.fcpt.com.

Category: Acquisition