Town Fair Tire sells 10 Massachusetts stores in $88.5 million deal

Town Fair Tire has sold 10 of its stores in Massachusetts, including locations in Chicopee, Shrewsbury, and Brockton. This sale is part of a larger transaction involving 31 stores for $88.5 million. The stores were sold by the estate of the company's founder, who passed away earlier this year. The buyer, Orion Buying Corp., is linked to the Miami-based Orion Real Estate Group. Town Fair Tire previously operated 119 stores across New England and New York. The sold locations have 16 years remaining on their leases, with scheduled rent increases every five years.