Business Wire | Apr 1, 2021 05:44PM EDT

FCPT Announces Acquisition of an Individual Chili's and a Dual-Tenant Starbucks / T-Mobile for $5.8 Million

Apr. 01, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Apr. 01, 2021--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 properties for $5.8 million, an individual Chili's and a dual-tenant property leased to Starbucks and T-Mobile. All three leases are with the brand's corporate tenant under long-term, net leases. The properties are both newer builds and located in dense retail corridors in Massachusetts and New York. The transaction was priced at a capitalization rate consistent with previous FCPT transactions.

About FCPT

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.

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CONTACT: Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO

CONTACT: Gerry Morgan, 415-965-8032 CFO