Fcpt Announces Acquisition Of A Smokey Bones Restaurant Property For $4.4 Million

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 Smokey Bones restaurant property for $4.4 million. The property is located in a strong retail corridor in Illinois and is occupied under a triple net lease to the corporate entity with approximately twelve years of term remaining. The transaction was priced at a 6.3% capitalization rate, exclusive of transaction costs.