FCPT Announces Acquisition of a BJ’s Restaurant Property for $4.2 million

December 28, 2018

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec 28, 2018--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a corporate-operated BJ’s Restaurant and Brewhouse property for $4.2 million. The property is located in Michigan and is occupied under a triple-net lease by BJ’s Restaurants, Inc. (NASDAQ: BJRI) with approximately 13 years of term remaining and 10% rent escalations every five years beginning in April 2022. The transaction was priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry. Additional information about FCPT can be found on the website at http://www.fcpt.com/.

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CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MICHIGAN

INDUSTRY KEYWORD: RESTAURANT/BAR REIT RETAIL CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Four Corners Property Trust

PUB: 12/28/2018 04:05 PM/DISC: 12/28/2018 04:05 PM

http://www.businesswire.com/news/home/20181228005209/en