JACKSONVILLE, FL-Spotting a niche in compact, single-story structures with ample surface parking spots, the Philadelphia-based developer has started construction on Cypress Business Center II, a planned 42,500-sf, class A venture at the 120,500-sf Cypress Business Center.

CAMBRIDGE, MA-Alnylam Pharmaceuticals Inc. leases 45,000 sf at 300 Third St., a building that has been vacant since it was developed two years ago. Average rate for this type of space ranges from the high $30s per sf to the mid $40s.

PORTLAND-A Boston-based pension fund advisor acquires First Industrial Realty Trust's Portland portfolio, which consists mostly of warehouse distribution space in the city's Northeast Columbia Corridor.

HORSHAM, PA-By acquiring Caddo Creek Capital, which originates mortgages for TIAA, and a 50% interest in Hyperion GMAC Capital Advisors, GMAC Institutional Advisors adds $3.6 billion to its asset management portfolio.