Fcpt Announces Acquisition Of A Dual-Tenant Aspen Dental / Starbucks For $3.4 Million
Jul 23, 2021•over 4 years ago
Acquiring Company
Four Corners Property Trust
Acquired Company
Aspen Dental Starbucks
Mill ValleyReal EstateDescription
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 a dual-tenant property leased to Aspen Dental and Starbucks for $3.4 million. The properties are located in a strong retail corridor in Illinois and are under long term net leases with each brand’s corporate tenant. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.
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