MILL VALLEY, CA—Four Corners Property Trust has acquired sevencorporate-operated Chili's restaurant properties for $28.7 million.The properties are located in Colorado, Louisiana, Mississippi,Oklahoma, and Texas, and are occupied under triple-net leases withapproximately 14 years of term remaining and annual rent increasesof 1.5%.
The leases are guaranteed by Brinker International, Inc. Thetransaction was priced at a 6.3% going-in cash capitalizationrate.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.