NEW YORK CITY-Industry experts tell GlobeSt.com that site developer Larry Silverstein stands in a strong position to undercut the Downtown market, unless federal subsidies continue to hold the discrepancy between rents he can charge and what others must ask in abeyance.

SAN DIEGO-Two reports unveiled recently forecast trouble for San Diego's fast-rising housing market. Although job growth has been furious over the last seven years, housing hasn't even begun to keep up.

PHILADELPHIA-Cedar Income Fund and ARC Properties buy a 90% stake in the grocery-anchored urban shopping center. It is Cedar's third such property in Philadelphia. Cedar also completes a $21-million refinancing of The Point in Harrisburg, PA.

PHILADELPHIA,PA-The specialty biopharmaceutical firm Novavax Inc. leases 20,000 sf to house manufacturing facilities for its new Estrasorb product, an estrogen replacement lotion. Burns Mechanical Inc. will spearhead design and layout for the project.