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Mississippi REIT Building Spring, Texas Business Park
EastGroup Properties (NYSE: EGP), a Mississippi-based REIT, has broken ground on Springwood Business Park, a $33.3 million, 292,000-square-foot industrial project that will be located in the northern Houston suburb of Spring.
Springwood Business Park will consist of two Class A distribution buildings that can support tenants with requirements from 10,000 to 168,000 square feet. Building features will include 28- to 32-foot clear heights and combined parking for 300 cars and 57 trailers. Construction is slated for a second-quarter 2023 completion. JLL will market the development for lease.
The Company’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 55 million square feet.
- ◦Development
