The latest to go is Fairway Centre, a 49,600-sf development positioned on about 4.6 acres. A New York-based private investor, Fairway Pads Ltd., is the buyer.

Ralph Tullier, a Trammell Crow associate, tells GlobeSt.com that the strategy for "Main and Main" in Pasadena has been to develop and sell once the retail project is stabilized. Tullier says another few hundred thousand sf of retail space are on the Trammell Crow drawing boards.

Fairway Centre consists of three fully leased buildings strategically positioned in front of a Kohl's and SuperTarget. The last parcel to sell was the Kohl's, which was bought last summer by a Los Angeles-based investor. Target owns its site.

Fairway's tenant roster includes Office Depot, Starbucks, Washington Mutual Bank, Verizon, Chipotle Restaurant and Car Toys Etc. Tullier says the credit tenants and excellent visibility attracted 10 offers. The shopping center, on the market for 30 days, carried an asking price of $12.8 million.

In addition to Tullier, the Trammell Crow team consisted of Rusty Tamlyn, principal, and Aaron Thielhorn, associate, negotiated the sale for Trammell Crow's selling entity, Fairway Associates LP. The buyer did not use a broker. David Aaronson of Live Oak Capital in Houston arranged acquisition financing through Lehman Brothers.