Marcus & Millichap announced the sale of 31 net lease properties anchored by Town Fair Tire for $88,505,802. The portfolio included properties across Connecticut, Massachusetts, New Hampshire, Maine, New York, Rhode Island, and Vermont.
The properties consist of identical, absolute net leases with Town Fair Tire, the Northeast’s dominant retailer of tires and wheels. All locations have 16-year terms remaining, rent increases every five years, and are backstopped with parent guarantees.
This significant transaction, representing the estate of Town Fair Tire’s founder, highlights Marcus & Millichap's expertise in handling large, complex portfolio dispositions. The sale underscores the strong demand for well-located net lease assets with stable income streams.
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