FCPT Buys Six Red Lobster Restaurant Properties for $25.9M

by Kristin Harlow

INDIANA, MINNESOTA AND NORTH DAKOTA — Four Corners Property Trust (NYSE: FCPT) has purchased six Red Lobster restaurant properties in Delaware, Indiana, Kentucky, Minnesota, Mississippi and North Dakota for $25.9 million. All six properties are under one triple-net master lease, which includes two other Red Lobster properties previously acquired by FCPT in November 2017. The master lease has approximately 21 years remaining.

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