Benzinga | Oct 19, 2021 04:07PM EDT

FCPT Announces Acquisition Of Raising Cane's Property From Washington Prime Group for $2.2M

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 Raising Cane's restaurant property for $2.2 million from Washington Prime Group. The property is newly constructed and located in a strong retail corridor in Illinois and is leased to the corporate operator under a triple net lease with fifteen years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.