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FCPT Acquires Taco Bell Property for $1.7 Million

Jul 26, 2024•almost 2 years ago

Contract Type

contract

Mill ValleyReal EstateHospitality

Description

Four Corners Property Trust (FCPT) has announced the acquisition of a Taco Bell property in Illinois for $1.7 million. The property is located in a strong retail corridor and is franchisee-operated under a triple net lease to K-MAC Enterprises, Inc. The transaction was priced at a 7.5% cap rate on rent as of the closing date.

Company Information

Company

Four Corners Property Trust

Location

Mill Valley, California, United States

About

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.

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