Four Corners Property Trust Announces Acquisition Of Two Hawaiian Bros Properties For $5.9M From Stine Enterprises Via Sale-Leaseback
Benzinga Newsdesk 11 months ago
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Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of two Hawaiian Bros properties for $5.9 million from Stine Enterprises via sale-leaseback. Hawaiian Bros is a fast-casual restaurant concept specializing in fresh-food plate lunches with more than 60 locations nationwide, mostly in Kansas City, Dallas, and Phoenix. The properties are newly constructed and located in strong retail corridors in Arizona and Texas and are franchisee-operated under long term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.