Four Corners Property Trust (FCPT) announce the acquisition of six Whataburger properties for $16.8 million from MWB Restaurants via sale-leaseback. The properties are newly constructed and located in strong retail corridors in Alabama and franchisee-operated under long term, triple net leases with approximately 20 years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.
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