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Four Corners Property Trust announces acquisition of six Whataburger properties

Four Corners Property Trust announces acquisition of six Whataburger properties

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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