Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Houston-Galveston  + Industrial  | 
EastGroup REIT to spend $33.3 million on Springwood Business Park in Spring, Texas

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.

Connect

Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
NAIOP-11-cube