Massive mall changes hands in Illinois

Approximately 80 retailers occupy site

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Marcus & Millichap brokered the sale of the 580,000-square-foot University Mall in Carbondale, Ill. The value of the transaction was approximately $49.9 million. University Mall is located at 1237 E. Main St. near the crossroads of Route 113 and U.S. 51. Famous Barr, JCPenney, Bed Bath & Beyond, Old Navy, Goody's, Michael's and K's Merchandise anchored the mall at the time of sale, along with more than 70 specialty retailers. Bayview Financial, a Miami-based owner, sold the property to Stoltz Management, a private capital fund headquartered in Philadelphia.  Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....