Business Wire | Dec 29, 2021 06:22PM EST

FCPT Announces Acquisition of Red Robin and AT&T Outparcel Properties for $2.8 million

Dec. 29, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec. 29, 2021--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 two outparcel properties leased to Red Robin and AT&T for $2.8 million. The properties are located in strong retail corridors in Idaho and Missouri and are corporate-operated under net leases with an average term of 3 years remaining. The transaction was priced at a capitalization rate in range with previous FCPT transactions.

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.

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

CONTACT: Gerry Morgan, 415-965-8032 CFO