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Four Corners Property Trust acquires LongHorn Steakhouse property for $2.5M

Four Corners Property Trust (FCPT) announced the acquisition of a LongHorn Steakhouse property for $2.5M. The property is located in a highly trafficked corridor in Michigan and is corporate-operated under a long term, triple net lease with approximately seven years of term remaining. The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs.

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