EastGroup Looking at Round Rock Again for Light-Industrial

Publicly traded EastGroup Properties (NYSE: EGP) could make a $10 million investment to redevelop a Round Rock property. The company is looking to construct two light-industrial warehouses, one 58,000 square feet, the other 70,000 square feet. EastGroup hopes to get started on the project in January 2024. EastGroup built Settlers Crossing (see picture) in Round Rock, a 4-building 333,000 square foot development.

The development would be one of several warehouse projects under construction in Round Rock should EastGroup pursue it. Two Link Logistics industrial projects will bring nearly 1 million square feet of industrial space to Round Rock, once completed. The company is looking at a combined investment of $66 million for the two projects.

EastGroup is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States specializing on projects between 20,000 and 100,000 square feet.