Tampa Industrial Park’s $45M Sale Part of EastGroup’s $221M Pending Projects
Jackson, MS-based EastGroup Properties, Inc., is under contract to sell Jetport Commerce Park in Tampa, FL, an 11-building park totaling 284,000 square feet, for $45 million. The upcoming sale is part of the company’s $221 million of pending business.
EastGroup is also under contract to purchase four multi-tenant business distribution buildings totaling 547,000 square feet for $135 million in San Diego, CA. The buildings are 66% leased adjacent to other company-owned properties that are 100% leased.
EastGroup has begun construction of LakePort 4 & 5 in Dallas, TX, which will contain 177,000 square feet and have a projected total cost of $22 million. They will adjoin the company’s LakePort 1-3 properties, which are 100% leased.
Finally, EastGroup has executed a lease to fully occupy World Houston 47 in Houston, TX, upon completion. The construction of this property, which will contain 139,000 square feet, has a projected total cost of $19 million.
- ◦Sale/Acquisition