FCPT Acquires Georgia-Based Chili's Restaurant Property for USD 1m.
MANews-(C)2009-2021
California-based real estate investment trust Four Corners Property Trust (NYSE: FCPT) has acquired a Georgia Chili's restaurant property for USD 1m, the company said.
The property is located in a strong retail corridor and is occupied under a new triple net lease to a franchisee operator with 20 years of term remaining with four, 5-year options and annual rent increases of 1.5%.
The transaction was priced at a 7.50% going-in cash...
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