Four Corners Property Trust (NYSE:FCPT) announce dthe acquisition of a Burger King restaurant property for $1.8 million. The property is located in Alabama and is occupied under a corporate guaranteed triple-net lease with approximately 4 years of term remaining. The transaction was priced at a 6.7% going-in cash capitalization rate.
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 for use in the restaurant and retail industries.