Question-and-Answer Session
Thank you. At this time, we'd like to begin the question and answer session of the conference.[Operator Instructions]. Our first question comes from the line of Christine McElroy with Banc of America. Please proceed.
Christine McElroy - Banc of America
Hey, good morning guys. Don, you mentioned you're starting to see more products open up in Florida and kind of across the country. Can you provide some additional color on that? What's causing the product to open up? Are starting to see more pressure on sellers, given the financing environment basically forced [ph] sales or is it just kind of typical sellers finally budging on price?
Donald Wood - President and Chief Executive Officer
Well I am going to turn this over to Jeff to give you the color, Christie. But surprising to say, I think first of all when you asked the question, make sure that you are thinking about the type of product that we look at, as opposed to kind of generally what's out there and really the comments on making a very much towards A quality properties in great locations. So Jeff take up from here.
Jeffrey S. Berkes - Executive Vice President and Chief Investment Officer
Yes, hey Christie. We are selling a lot more product coming to market. Particularly, in California and I think what's driving that is somewhat the realization that a cap aren't going down and any longer. And now it's a good time to sell. And we are seeing a broad base of seller types really from institutional sellers pension funds, all the way down to the individuals. And I think, some of those people may be under pressure, but they are not under such extreme pressure that we're seeing huge increases in cap rates, or drops in values within our markets.
Christine McElroy - Banc of America
And then, can you give us a sense for the trends that you're seeing, kind of in market rents today? You guys have a pretty hefty mark-to-market, on... in place rents. That's kind of a primary driver of your internal growth. How much of risk is out there that you could see meaningful pressure on your leasing spreads due to the declining market rents.
Unidentified Company Representative
Yes, I am not so sure, if it's, and may be this is semantics. I'm not so sure it's declining market rents in the markets that we are in. Its smart retailers, using as leverage the economy to extract more. They absolutely have more choices in terms of where to go. The good news is obviously, a lot of those cases, we were very high up on the list in terms of what [ph] they want to do. It's more businessmen. And so there certainly will be more pressure, I think on the deals themselves as they are negotiated.
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