Four Corners Property Trust (FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties, has acquired a Texas Roadhouse property for $3.8 million.
The property is located in a strong retail corridor in Illinois and is occupied under a triple-net lease with the corporate operator. The lease has approximately 15 years of term remaining. The transaction was priced at a 6.3 percent going-in cash capitalization rate, exclusive of transaction costs.