NEWTOWN SQUARE, PA-The Air Force chose Balfour Beatty Communities to renovate 2,435 housing units on three different bases.

CUMBERLAND COUNTY, PA-The first of three buildings is scheduled to be finished by May 2009. The project will eventually total more than three million sf.

'What will occur is a natural correcting effect to the market.'

PHILADELPHIA-Sources say the Spectrum, which will close in 2009, is more valuable as a hospitality, retail or entertainment site than an arena now.

PHILADELPHIA-Sources say the Spectrum, which will close in 2009, is more valuable as a hospitality, retail or entertainment site than an arena now.

'They're looking to trim the fat a little bit.'

WYNNEWOOD, PA-NHH picks up hotels in Atlanta and Pittsburgh for an undisclosed but 'significantly below the placement costs' amount.

PHILADELPHIA-Retail rents will slightly rise and more space will become available, but 'select' spots will be highly sought after, according to broker.