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.