Four Corners Property Trust (FCPT) said late Thursday that it acquired a property in Illinois from P.F. Chang's for $4.8 million.
P.F. Chang's China Bistro is a casual-dining restaurant chain with more than 200 locations across the US, the company said.
The property is under a corporate triple net lease, with about five years of the term remaining.
The transaction price resulted in a 7.4% cap rate on rent, according to the company.
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