FCPT acquires four BK restaurant properties
Dec. 29. 2016
by MEAT+POULTRY Staff
MILL VALLEY, Calif. – Four Corners Property Trust (FCPT) recently acquired four Burger King properties for $7.7 million. FCPT bought the properties from Cambridge Franchise Holdings which had been leasing them.
The four properties are in Tennessee and are occupied under new, individual triple-net leases with 20-year terms and above brand average performance, FCPT said. Cambridge, a 102-unit franchisee, will actively invest and renovate these properties over the next few years.