Archstone-Smith buys mixed-use project

Archstone-Smith has acquired Del Mar Station, a transit-oriented, mixed-use project midway through development in Pasadena, Calif.

That value of the transaction was $134 million.

The Metro Gold Line train runs through Del Mar Station, which will be comprised of four buildings containing 347 luxury apartment units, approximately 11,000 square feet of retail and a 1,200-stall subterranean parking structure when completed. The project will also include a refurbished historic train depot serving as a restaurant.  more...

Suburban East Coast offices sold

Broad Street Advisors arranged the sale of, a 143,220-square-foot office building in Harrisburg, Pa.

The value of the transaction was $16.1 million.

Originally developed in 1966, the three-story building, located at 3721 TecPort Drive in the TecPort Business Center, was completely renovated in 2002 after the ownership, TecPort Partners LP, secured a 10-year, 120,000-square-foot lease to Coventry Health Care. TecPort Partners LP is the master developer of the 102-acre TecPort Business Center.

The purchaser was Triple Crown Corp.   more...

Massive mall changes hands in Illinois

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.  more...