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Four Corners Property Trust acquires restaurant, bank assets

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Four Corners Property Trust acquires restaurant, bank assets

Four Corners Property Trust acquired a corporate-operated Bob Evans restaurant property in Ohio for $1.0 million.

The property is occupied under a triple-net ground lease with a remaining term of approximately five years.

Separately, the restaurant-focused real estate investment trust bought a Citibank property and a PNC Bank property in Illinois and Ohio, respectively, from Washington Prime Group Inc. for $3.0 million. The properties are leased to the corporate operators under triple-net leases with approximately 3.8 years of average weighted term remaining.