Will Eglin, Lexington Corporate Properties Trust CEO, said his firm in the recent months has become a net seller. "We slowed down our acquisition pace. Until cap rates come up, we'll continue to be a seller."

There has been a pricing shift in short-term deals, Bruce MacDonald, president of Net Lease Capital Advisors, pointed out. "Many are sitting on the sidelines, waiting it out. But that won't be in the long term."

Michael Ashner, chairman and CEO of Newkirk Realty Trust said tenants have become "more powerful than they were 10 years ago." He also predicts that the market will become more creative. "Something's got to give."

Ethan Ness, principal of CRIC Capital, sees a possible evening out of the market to factor in risk. " We've had it so good for so long. The global market will recede and we'll not be on auto pilot as we have been. It's been an absurdly overheated marketplace." And Jeff Hughes, senior director, Stan Johnson Co., said he's seen a lack of exit strategy. "They need to understand balloon and residual risk."

"There's a whole confluence of events," commented W. Kyle Gore, managing director, RBS Greenwich Capital. "It's doing business in the post-Enron world." Barclay Jones III, executive vice president at iStar Financial, added that corporations are requiring flexibility in deals.

Approximately 230 industry professionals attended the conference, which was produced by Real Estate Media. The firm is publisher of Real Estate Forum and GlobeSt.com.