News

Four Corners Property Trust acquires 2 South Carolina Chick-fil-A, Chipotle locations

March 4, 2020

Real estate investment trust Four Corners Property Trust has acquired a Chick-Fil-A outlet, as well as a Chipotle location in South Carolina, for a combined $2.9 million, a news release said.

The occupied properties are under net leases with 12.8 years of weighted average term remaining. The Chick-Fil-A property was newly constructed in 2018, and both properties are leased to their respective corporate operators. 

This transaction is the third closing of the previously announced PREIT outparcel portfolio transaction from November 2019. FCPT, headquartered in Mill Valley, California, acquires and leases restaurant properties and is currently seeking to grow its portfolio with more leasable acquisitions.