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Boston & New England  + New England  + Retail  | 

Kempner Acquires Town Fair-Anchored Retail Portfolio in CT, RI

Kempner Properties, a White Plains, NY commercial real estate company, has acquired a portfolio of six shopping centers located in Connecticut and Rhode Island and anchored by Town Fair Tire for $30.75 million.

The portfolio totals 126,299 square feet and is 92% occupied. Town Fair Tire leases 40% of the space on triple net leases, with the rest filled by a mix of local, regional and national tenants. 

The six properties were sold by the Estate of Neil Mellen, the founder of Town Fair Tire, who passed away in January 2024. Jeffrey Winokur of J H Winokur, Inc. represented the seller.

 “These properties are in prime, high-traffic regional locations,” said Douglas Kempner, managing partner of Kempner Properties. “We are excited about this acquisition and believe we’ve secured high-quality assets with a strong anchor and a well-balanced mix of tenants.” The new ownership plans to invest in improvements, including parking lot upgrades and exterior enhancements at several of the centers.

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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 16-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 7-10 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).

  • ◦Sale/Acquisition
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