Fcpt Announces Acquisition Of A Cooper’S Hawk Restaurant Property For $6.9 Million
12/20/22, 12:08 AM
Location
mill valley
Industry
real estate
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 Cooper’s Hawk Restaurant property for $6.9 million. Cooper’s Hawk is a fine dining restaurant brand with over 60 locations concentrated in the Midwest, Florida and the Mid-Atlantic. The property is newly constructed and located in a highly trafficked corridor in Illinois and is under a long-term, triple net lease with approximately 16 years of term remaining. The transaction was priced at a 6.6% cap rate on rent as of the closing and exclusive of transaction costs.
Company Info
Location
Mill Valley, California, United States
Company info
Four Corners Property Trust (FCPT) is a real estate investment trust primarily engaged in the ownership, acquisition, and leasing of high-quality, net-leased 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.