Officials estimate the firm has more than $425 million in buying power and that it will be both a buyer and a seller in the remaining quarters of this year. "We don't project acquisition activity, but we will continually cull assets," said Glenn Rufrano, the REIT's CEO during the firm's first-quarter conference call. "There's a huge supply. We are cautious."

New Plan execs said they signed a confidentiality agreement and could not discuss whether they're interested in two retail-oriented companies that are in said to be in play--Heritage Property Investment Trust and Mills. While they could not discuss those situations, the firm was animated regarding the upcoming ICSC event in Vegas. "Last year, we had 800 meetings; this year we expect more," "It's a valuable forum."

In fact, the firm has already had "pre-meetings" with a number of retailers including Giant Foods and Ace Hardware and expects to meet with Target, Best Buy and Marshall's, among others. "We offer a national footprint for national retailers."