JV Sells Retail Greenway Commons to Cole Real Estate

HOUSTON-Partners Trammell Crow Co., Prudential Real Estate Investors and Morgan Group sold the class A Greenway Commons’ retail component to Cole Real Estate Investments. The 253,000-square-foot urban retail center was 96% leased at the time of closing, and attracted a great deal of interest during the marketing period.

“This is an urban infill complex and a high-density development; these projects tend to garner a great deal of interest,” explains TCC senior vice president Kyle Miller. Even with all of the potential buyers involved, the retail asset at 3838 Richmond Ave. ended up in the Phoenix-based Cole Real Estate Investments’ portfolio because of familiarity with the buyer.