Four Corners Property Trust (FCPT) Acquires Dairy Queen Restaurant
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Four Corners Property Trust (NYSE: FCPT) announced the acquisition of a Dairy Queen restaurant in Tulsa, Oklahoma for $2.6 million. The restaurant is occupied under a triple-net lease with approximately 18 years of term remaining, and the transaction closed at a going-in cash cap rate of 6.6%, exclusive of transaction costs. The property performs well-above national average for the brand, is located in a well-trafficked retail corridor, and the tenant is one of the largest franchisees for Dairy Queen nationwide.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cheniere Energy (LNG) Ends Talks to Acquire Cheniere Energy Partners LP (CQH)
- Axis Capital (AXS) Approves $1B Buyback of Common Shares
- Valeant Pharma (VRX) Announces Positive Results from IDP-118 Phase 3 as Psoriasis Treatment
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!