"We are certainly taking a guarded approach to business," hesaid. "So far there has been more smoke than fire."
One way the company is trying to ensure minimal exposure,Lebovitz said, is to make sure main anchors are committed and 50%of tenants are signed before starting a new development project."We don't start with a project until we've got good preleasingdone," he said.
CBL is considering the sale of some of its underperformingassets. Additionally, management is looking at the sale of someoutparcel spaces to hotel operators who are interested in takingadvantage of a mall's dining and shopping traffic.
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