Chicago & Midwest + Greater Chicagoland + Retail | January 3, 2023

Four Corners Property Trust has paid $14 million for a four-property portfolio of Buffalo Wild Wings locations in Illinois

FCPT Acquires Buffalo Wild Wings Portfolio in Illinois

Four Corners Property Trust (FCPT) a REIT primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has acquired four Buffalo Wild Wings properties in Illinois for $14.3 million. The Mill Valley, CA-based REIT didn’t disclose specifics about the properties’ locations or the seller(s).

The properties are located in strong retail corridors in Illinois and are under individual long-term, triple net leases each with approximately nine years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.

Separately, FCPT said it acquired three properties leased to Aspen Dental, Addus Homecare, AT&T, WellNow and Banfield Pet Hospital for $11.5 million. All three properties are located in a strong retail corridor in Illinois. Both acquisitions were announced in late December.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).