Four Corners Property Trust sells Red Lobster property for $4.7M

Four Corners Property Trust announces the disposition of a Red Lobster property for $4.7 million. The property is located in North Dakota and is corporate-operated under a triple net lease. The transaction was priced at cap rate in range with previous FCPT dispositions. The Company plans to repurpose the proceeds into new investment opportunities consistent with FCPT thresholds.