Five years ago, three-fourths of Opus West's developmentprojects were in Arizona, mostly in the Phoenix metro area, wherethe company is based. Now just one quarter of the firm's businessis here; most of the it is in California.

"When we became active in the middle 90s we were the only gamein town," he says. "In the past two years there has been atremendous amount of new competition and a lot of local developmentof space. We are less dominant in this market."

For the past two years, Opus West has developed about the sameamount of space in the Phoenix area--about one-million sf of officespace, 500,000 sf of industrial and 300,000 sf of retail. Ifanything that pace could slow over the next year, Roberts says. "Weare a little more cautious," Roberts says. "We are a little bitleery about the amount of space we are putting on the market everyyear."