Fcpt Announces Acquisition Of A Torchy’S Tacos Property From Seritage Transaction For $2.2 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 Torchy’s Tacos property for $2.2 million from the Seritage transaction previously announced in October 2019 and expanded in August 2020. The property is located in a strong retail corridor in Florida and is corporate-operated under a triple net lease with approximately 6 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.