FCPT Acquires Chick-fil-A Property from Washington Prime Group for USD 3.5m.
MANews-(C)2009-2022
US-based real estate investment trust Four Corners Property Trust (NYSE: FCPT) has acquired a Chick-fil-A property for USD 3.5m, the firm said.
The property is located in a dense retail corridor in Connecticut and is corporate-operated with approximately fifteen years of term remaining.
The transaction was priced at a cap rate in range with previous FCPT transactions.
This is the last property to be acquired from the previously announced portfolio transactions with Washington Prime.
Inclusive of this acquisition, FCPT has acquired over USD 100m across 59 outparcel properties from Washington Prime, representing an average purchase price of approximately USD 1.7m per property.
Including these acquisitions, in 2021 FCPT completed real...
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