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NEW YORK CITY-The risk factor needs to become a bigger factor when assessing the viability of deals, panelists at RealShare Net Lease noted. "People have forgotten about risk," said Gordon DuGan, president and CEO of WP Carey & Co. "Lending has been pushed to the wall." Other issues that threaded through various panels and presentations included cash flow, replacement costs, shareholder activism, supply and living in the post-Enron world.

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."