MILL VALLEY: Four Corners Property Trust has bought a Texas Roadhouse property for $3.1 million, a news release said.
The property is located in a strong retail corridor in Illinois and is occupied under a triple net lease with the corporate operator with approximately 10 years of term remaining. The transaction was priced at a 6.4% 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, on a net basis, for use in the restaurant and retail industries. www.fcpt.com