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 corporate-operated BJ’s Restaurant (NASDAQ: BJRI) property for $3.8 million via a sale-leaseback. The property is newly constructed and located in Ohio and is occupied under a triple-net lease with 15.0 years of term, and four, 5-year options. This transaction is the second and last acquisition of the two-property sale-leaseback with BJRI announced in September 2020. The transaction was priced at a cap rate in range with previous FCPT transactions.
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