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FCPT Announces Acquisition of Dual-Tenant Panera Bread / AT&T Property for $2.6 million

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MILL VALLEY, Calif.--()--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a dual-tenant property for $2.6 million. The property is occupied by a corporate-operated Panera Bread and a corporate-operated AT&T (NYSE: T). Each tenant is subject to a separate net lease with approximately nine years of weighted average term remaining. The property is located in Indiana. The transaction was priced at a 6.8% going-in cash cap rate, after property management expenses and exclusive of transaction costs.

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 http://www.fcpt.com/.

Contacts

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

Four Corners Property Trust Inc

NYSE:FCPT

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Other Activities Related to Real Estate
Real Estate and Rental and Leasing
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Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Other Activities Related to Real Estate
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Mill Valley

About FCPT

four corners property trust (nyse:fcpt) is a $2 billion investment grade rated net lease reit focused on restaurant real estate. fcpt was spun-off from darden restaurants, inc. in november 2015 with 418 properties. today, fcpt owns over 500 properties in 44 states with over 20 brands. at fcpt, our strategy continues to be diversifying and scaling our portfolio through acquisitions and sale-leasebacks of quality credit restaurant operators with strong fundamental real estate. for more information, navigate to the following site: www.fcpt.com