Alexander said during the call that the change in strategy iscompelled by changing market conditions. Specifically, continueddemand from retailers, the competitive acquisition environment andhigher construction costs.

Joint-venture programs will be finalized by mid-year, Alexandersaid. "These relationships will allow us to become more proactivein the acquisition market," he noted, adding that the REIT plans toacquire $200 million to $250 million this year for its portfolioand more than $300 million for the joint-venture program.

On the development front, the REIT is bulking up its newdevelopment pipeline. This year, the pipeline is expected to reach$250 million, and by 2008, the REIT anticipates the pipeline willoffer $1 billion in development opportunities including sales ofpad sites and merchant development. The REIT expects to achieve FFOof 5 cents to 10 cents from the merchant development program.