Four Corners Property Trust Acquires A Chili's Property For $2.3M

Four Corners Property Trust (NYSE: FCPT) has acquired a Chili's property for $2.3 million, located in a high-traffic retail area in Illinois. The property is under a triple net lease with approximately six years remaining on the lease term, and the acquisition was priced at a 6.8% cap rate, including rent credits received at closing. This acquisition aligns with FCPT's strategy of owning high-quality, net-leased restaurant and retail properties.