FCPT Acquires Two Properties Net Leased to Taco Bell Operator in Indiana for $3.4M

INDIANA — Four Corners Property Trust (NYSE: FCPT) has acquired two properties in Indiana that are net leased to K-MAC Enterprises LLC for $3.4 million. The seller was not disclosed. The properties are occupied under individual triple-net leases with new 20-year terms negotiated by FCPT prior to closing. FCPT plans to remodel both properties in the next four years, which will include the transformation from a KFC/Taco Bell restaurant to a Taco Bell exclusively at one of the properties. K-MAC is one of the largest YUM! Brands franchisees, with over 280 Taco Bell and KFC units across the Midwest and Southeast.