Four Corners Property Trust buys McAlister’s Deli property in South Carolina

Four Corners Property Trust has acquired a McAlister’s Deli property in South Carolina for a price of $2.8 million.

The acquired property is situated in a robust retail area and is currently leased under a long-term, triple net lease with around ten years remaining. The transaction was valued at a 6.5% capitalization rate based on the rental income at the time of closing, excluding transaction expenses.

Four Corners Property Trust is a publicly traded real estate investment trust listed on the New York Stock Exchange (NYSE). Its main focus is on owning and acquiring top-notch, net-leased restaurant and retail properties.