Weingarten Realty Investors is a real estate investment trust (REIT). The Company’s primary business is leasing space to tenants in the shopping and industrial centers it owns or leases. It also manages centers for joint ventures, in which it is a partner or for other outside owners for which it charge fees. During the year ended December 31, 2008, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 379 developed income-producing properties and 25 properties under various stages of construction and development. The total number of centers includes 323 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. It also owned 78 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas.