Kempner Properties Acquires Six-Property Retail Portfolio For $30.8 Million In Connecticut And Rhode Island

Kempner Properties acquired a six-property shopping center portfolio located at 248 West Main Street, 1326 Boston Post Road, 580 Main Avenue, 994 North Colony Road, 61 Boston Post Road, and 1085 Bald Hill Road. The total price for this retail asset was $30.8 million, encompassing a total square footage of 126,299. The properties are situated in various markets including Avon, Milford, Norwalk, Wallingford, Orange, and Warwick, with the portfolio anchored by Town Fair Tire.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $30,800,000
• Total Square Footage: 126,299
• Price Per Square Foot: $244
• Buyer: Jim Kempner, Peter Kempner, Robert Kempner & Doug Kempner - Kempner Properties
• Seller: Estate of Neil Mellen
• Broker: Jeffrey Winokur - JH Winokur Inc

This transaction involved key figures including Jim Kempner, Peter Kempner, Robert Kempner, and Doug Kempner representing Kempner Properties in the acquisition, with Jeffrey Winokur serving as the broker for the seller, Estate of Neil Mellen.