FCPT Announces Acquisition of a Raising Cane’s Restaurant from Washington Prime Group for $2.1 Million

Four Corners Property Trust (NYSE:FCPT) has acquired a Raising Cane’s restaurant property in Ohio for $2.1 million.

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01/27/2021 - 04:53 PM EST

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Raising Cane’s restaurant for $2.1 million from Washington Prime Group. The property is located in Ohio and is under a triple-net lease to the brand’s corporate entity with a lease term of approximately fifteen years remaining. This acquisition was priced at a capitalization rate consistent with FCPT’s investment thresholds and past transactions.

About FCPT

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. Additional information about FCPT can be found on the website at www.fcpt.com.