Fcpt Announces Acquisition Of Two Buffalo Wild Wings Properties For $10.2 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 two Buffalo Wild Wings properties for $10.2 million. The properties are located in strong retail corridors in New Jersey and are franchisee-operated. They are occupied under a triple net master lease with 20 years of term remaining and annual rent increases of 2%. The transaction was priced at a 6.4% cap rate on rent as of the closing date, exclusive of transaction costs.