Office

Ian Formigle, vice president of investments with CrowdStreet, recently shared his observations and predictions for commercial and multifamily real estate markets heading into 2020.

The approval includes the large project authorization for the design and massing of the approximately 820,000-square-foot project, as well as an initial allocation of 505,000 square feet under Prop M.

Mack-Cali reports it has sold two suburban office portfolios totaling approximately 2.4 million square feet in Parsippany and Madison, NJ to Onyx Equities.

"Downtown Orlando has been on our radar since the firm's inception."

The 15-year lease deal will allow CarGurus, which is currently headquartered across three offices in Cambridge, MA, to consolidate those operations into one Back Bay location.

"This portfolio offered the opportunity to buy a critical mass of medical assets with exposure to some of the top health systems in the country, including Advocate Aurora Health, Einstein Health and INOVA Health System," said Chris Bodnar, vice chairman of Capital Markets for CBRE.

Penn South Capital, a subsidiary of RAP Equities, has acquired a $37 million portfolio that includes 39 Clarkson St., a 40,000-square-foot, mixed-use office development.

Hollywood-based MG3 Developer Group bought the two-building office property at $290 a square foot.