FCPT Announces Sale-Leaseback of a Portfolio of Six Whataburger Properties from MWB Restaurants for $16.8 Million
MILL VALLEY, Calif.--(BUSINESS WIRE)--Mar 28, 2025--
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 six Whataburger properties for $16.8 million from MWB Restaurants via sale-leaseback. The properties are newly constructed and located in strong retail corridors in Alabama and franchisee-operated under long term, triple net leases with approximately 20 years of term remaining. The transaction was priced at a 6.8% 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
View source version on businesswire.com:https://www.businesswire.com/news/home/20250328650092/en/
CONTACT: Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEOPatrick Wernig, 415-965-8038
CFO
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA ALABAMA
INDUSTRY KEYWORD: REIT RESTAURANT/BAR RETAIL COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Four Corners Property Trust
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PUB: 03/28/2025 06:16 PM/DISC: 03/28/2025 06:16 PM
http://www.businesswire.com/news/home/20250328650092/en
