"This combined 500,000-sf sale marks the largest office transaction in Memphis history," broker Eric Everett of CB Richard Ellis Inc.'s Memphis office tells GlobeSt.com. CBRE negotiated for Archon.

Cooper Realty paid $15.7 million or $96.44 per sf for Forum 1, a 19-year-old, 162,800-sf, 73.3%-leased building. For Crescent Center, a 15-year-old, 335,700-sf, 90.6% leased property, Cooper paid $39.2 million or $116.77 per sf.

Forum's full-service asking rent is $19 per sf; Crescent's, $23 per sf. Forum is at 6750 Poplar Ave., on the northeast corner of Kirby Parkway and Poplar Avenue. Crescent Center is at 6075 Poplar Ave., on the southwest corner of Ridgeway and Poplar Avenue.