Four Corners Property Trust acquires Minnesota Burger King property for $1.6M

Four Corners Property Trust (FCPT) announced the acquisition of a Burger King property for $1.6M.

The property is situated in a high-traffic retail corridor in Minnesota and is leased to the Dhanani Group—one of the largest restaurant franchise operators in the U.S., managing over 500 Burger King locations and more than 800 total franchise units.

The site is subject to a triple net (NNN) lease with approximately six years of remaining term.

The transaction closed at a 7.4% capitalization rate based on initial rent and exclusive of transaction costs.

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