MILL VALLEY: Four Corners Property Trust (FCPT) announced the acquisition of a corporate-operated Starbucks property for $2.3 million.
The property is located in a highly trafficked corridor in Alabama and is occupied under a long term, net lease. The transaction was priced at a going-in cash capitalization rate in range with FCPT’s previous investments.
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, on a net basis, for use in the restaurant and retail industries. www.fcpt.com