There are now 37 properties in various stages of development, up from 21 at the same time a year ago. To date, Weingarten has invested $386 million in the properties and anticipates a total investment of $820 million. In addition, 18 development sites are under contract with a projected final investment of $370 million.

Of the 37 underway, the company expects to "substantially complete" 13 by the end of 2008, said Robert Smith, SVP and director of new development. "These centers are 87% leased," he said. "By the end of 2009, we are projecting that 23 of the 37 . . . will be substantially complete and these projects are currently 69% leased," he added.

During the third and the outset of fourth quarter, Weingarten acquired 10 properties aggregating 2.2 million sf for $454 million, bringing total acquisitions this year to $851 million. Of that, $377 million were acquired through joint ventures, a strategy the locally based company plans to continue to pursue, said Drew Alexander, president and CEO.