FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027
Four Corners Property Trust announced a Master Agreement with Darden Restaurants extending all 66 Olive Garden and LongHorn leases previously expiring in October 2027 by approximately five years. Rent continues to increase 1.5% annually under the existing lease terms, and FCPT stated the deal included no landlord rent concessions or capital contributions; six leases expiring in October 2028 were also extended early.
Key figures
- Leases extended
- 66
- Annual rent escalator
- 1.5%
- Lease extension years
- approximately five years
- Early extension leases
- 6
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