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.

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