Of the retailers polled, which accounted for about one third of the respondents, 61% said they expect to add stores this year, 27% said there would be no change and 12.1% predicted store closings. Additionally, 55% of retailers forecast a same-store sales gain this year from staying flat to up 5%, 30% said results would stay flat, while about 15% foreshadowed a decline.

About 95% of the capital investors and developers surveyed expect this year's cap rates to eclipse last year's by about 1%. When asked if they were adjusting their business to deal with slowdowns in the economy, 35% said they have put in place cost-containment measures, 17% are cutting back on expansion plans, 25% are increasing investments on distressed properties and another 25% are putting more money into the industry.

"The survey shows that in the current economic climate both retailers and owners are treading carefully and adapting their strategies accordingly," said Greg Maloney, CEO and President of Jones Lang LaSalle Retail, in a statement. "Institutional investors, on the other hand, are taking a wait and see approach and are analyzing the fundamentals before undertaking any bullish activity."