Four Corners Property Trust, Inc. (NYSE: FCPT), which spun off from Darden Restaurants Inc. in November 2015, sees significant external growth potential in the fragmented restaurant real estate sector, according to CEO Bill Lenehan.
At the time of the spinoff, the triple-net lease REIT’s portfolio included 300 Olive Garden restaurants, 104 LongHorn Steakhouse restaurants, 11 Bahama Breeze restaurants, two Seasons 52 restaurants and one Wildfish Seafood Grille restaurant.