While compiling results for Emerging Trends in Real Estate 2000, editors for Lend Lease Real Estate Investments Inc. and PricewaterhouseCoopers LLP found these eight investment "maxims" emerging from the 150-plus real estate investment authorities who responded to their surveys. Now more than ever, concentrate on the best locations. Twenty-four-hour cities and prime infill locations will be magnets for people and commerce. Focus on premium space; avoid commodity buildings. Fortress regional malls, prime central business district office buildings in 24-hour locations and big-box industrial will flourish. Recognize that the suburbs have peaked. New 24-hour environments with urbanized features like high-rise apartments and better hotel locations will be created as suburban residents gravitate to the best markets. Redevelop underutilized space in supply-constrained areas. Underutilized properties in the right markets will generate premium returns through infill redevelopment strategies. Follow the Baby Boomers! 75 million strong. Don't ignore the Echo Boom. The "Net Generation" will push advances in virtual technologies and conveniences at home, in the workplace and when shopping. Move overseas for opportunity investing. For more enhanced returns, turn to less developed regions of the world—Asia, Eastern Europe and Latin America. But beware of the risks! Take advantage of commercial mortgage-backed securities arbitrage opportunities. Dislocations between capital market spreads and real estate fundamentals will present savvy investors with some excellent opportunities.