Barile: I sell investment properties, so our landlords are little different than landlord and tenant. What I've heard from landlords is that the tenant meetings were better, especially if they have vacant product that they want to lease or certain parts of the country where they are building projects. Our meetings were good, but what everyone wants to buy there isn't a lot of. That would be the biggest issue. Everyone wants a core property with the best food store in the market, but a lot of those have traded and their aren't a lot left on the marketplace. The only negative I heard at the show is that they couldn't find the product they wanted to buy.

GlobeSt.com: So people aren't quite ready to go after non-core properties?

Barile: They're going after value-add centers, but there are two issues with value add. Do you have a center that is half full, but the half full part are over-market rents. How do you value that because you know you're going to write those rents down? And what do you pay the owner for the vacant space knowing that you're going to lease that up? The question is: Are your rents going to be lower than the expectations of the seller? There is a little bit of a disconnect there. In core you have a massive group of people and with value add you have a massive group of people. In between, it is very difficult to price everything because of the changing rents, from over rented to vacant.

GlobeSt.com: But there is a lot of cash out there looking to buy right now, correct?

Barile: There is more than enough cash. Everybody has a billion here and a billion there to buy real estate. There is no shortage of money. Interest rates are very low, so they can manufacture great yields.

GlobeSt.com: Have you seen any change in the type of buyer?

Barile: Not really. The pension-fund advisors and the REITs are the biggest buyers because they have almost unlimited funds. The individual is trying to buy, but he's at a disadvantage because of the strength of the REITs and the pension funds.

GlobeSt.com: What is the development situation like?

Barile: The few developers that want to build don't have all of the equity that they used to have to build. They used to be able to get 100% financing, and now they have to put in equity and personal guarantees, so that has changed the development game. The market right now is trying to figure out how you do new development so you have the product that the institutions want to buy. Some people are trying to do presales to account for that, but that is in the early stages of developing right now.

GlobeSt.com: What will it take to resolve some of these issues?

Barile: You're looking at presales where the institutions that want the product will come in and work with the developer as the buyer put in the equity to build it, and then the developer will be able to get a more beneficial loan because he has the guaranteed take out. It will get done, and the institution will have the quality project that it wants going forward.