MILL VALLEY: Four Corners Property Trust (FCPT) announced the acquisition of a Texas Roadhouse property for $3.8 million.
The property is located in a strong retail corridor in Illinois and is occupied under a triple-net lease with the corporate operator. The lease has approximately 15 years of term remaining. The transaction was priced at a 6.3% going-in cash capitalization rate, exclusive of transaction costs.
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease for use in the restaurant and retail industries.