- Four Corners Property Trust (FCPT, Financial) acquires a Caribou Coffee property for $1.4 million.
- The property is located in Wisconsin with a long-term, triple net lease.
- The acquisition reflects a 7.1% cap rate, excluding transaction costs.
Four Corners Property Trust (FCPT), a leading real estate investment trust, has announced the acquisition of a Caribou Coffee property for $1.4 million. The acquisition furthers FCPT's strategy of expanding its portfolio with high-quality, net-leased restaurant and retail properties.
The Caribou Coffee property, situated in a high-traffic corridor in Wisconsin, is under a corporate-operated, long-term triple net lease. This lease has approximately eight years remaining, offering stable income for FCPT. The acquisition was finalized at a cap rate of 7.1% based on rent at the closing date, exclusive of any transaction costs.
Headquartered in Mill Valley, California, FCPT continues to execute its strategy of acquiring additional real estate to lease, primarily focusing on the restaurant and retail sectors. This recent acquisition aligns with FCPT’s ongoing expansion and investment plans, underscoring its commitment to enhancing its property portfolio.
