FCPT Announces Acquisition of a Miller's Ale House Property for $3.8 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--Nov 1, 2024--

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 Miller's Ale House property for $3.8 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long term, net lease with approximately 11 years of term remaining. The transaction was priced at a 7.2% 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 www.fcpt.com.

Category: Acquisition

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CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

KEYWORD: CALIFORNIA GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: REIT RESTAURANT/BAR RETAIL COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: Four Corners Property Trust

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