EastGroup Properties Provides Business Updates and Conference Engagements
EastGroup Properties Provides Business Updates and Conference Engagements
EastGroup Properties, Inc. (NYSE: EGP), a prominent player in the real estate sector, recently outlined its latest business activities and confirmed its involvement in several significant upcoming conferences. This announcement comes amid a period of strong performance and expansion for the company.
Recent Business Performance
Marshall Loeb, CEO of EastGroup, expressed his satisfaction with the company's portfolio performance, which has exceeded expectations through the current quarter. As of August 31, 2026, the company reported an impressive 97.1% leasing rate and a 96.1% occupancy rate across its properties. In July and August alone, EastGroup signed 1,944,000 square feet in new and renewal leases, signifying a substantial rental rate increase of 38.9% on a straight-line basis and an impressive 23.1% on a cash basis.
Furthermore, the company has successfully executed eight leases relating to active developments and first-generation properties, spanning around 280,000 square feet.
Development Initiatives
EastGroup has also made strides in property development, launching three new projects and one redevelopment initiative that total approximately 772,000 square feet. The projected costs for these developments stand at around $119 million. Notably, one of the new projects is a 100% pre-leased build-to-suit location in San Diego, indicating a positive demand outlook in the region.
In addition to these new endeavors, EastGroup is transitioning a 113,000 square foot, fully leased development project in Orlando into its operating portfolio, further solidifying its market presence.
Strategic Acquisitions
In recent transactions, EastGroup has acquired several key properties, marking significant investments for future growth. The acquisition of Harris Ridge Business Center in Austin for roughly $83 million brings five buildings totaling 388,000 square feet, which are currently 95% leased to a diversified group of tenants.
Moreover, the company recently secured 70 acres of land in the Northeast Dallas submarket for about $38 million. This addition expands their existing development plans from four buildings totaling 350,000 square feet to eleven buildings with an overall projection of 1,000,000 square feet. Similarly, in September, EastGroup acquired another 30 acres—referred to as Crossroads Logistics Park Phase II Land—for approximately $12 million, which enhances their existing park in East Tampa.
During the third quarter, EastGroup entered into forward equity sale agreements involving 532,460 shares of common stock, projecting initial gross sales proceeds of approximately $108.6 million.
Upcoming Conferences
EastGroup is set to actively participate in various industry conferences, including the 18th Annual Evercore Real Estate Conference from September 9 to 10, 2026, and the Bank of America Securities Global Real Estate Conference on September 16, with a presentation scheduled for 4:30 PM Eastern Time. This presentation will be accessible via a registration link on the company's official website. Additionally, management will also partake in the Mizuho REIT Conference on September 29, 2026.
These events will allow EastGroup executives to discuss a range of topics affecting the organization, including transaction activity, market trends, and other business-related matters.
About EastGroup Properties, Inc.
EastGroup Properties, a self-administrated equity real estate investment trust, is primarily focused on the development, acquisition, and operation of industrial properties in high-growth markets throughout the United States, especially in states like Texas, Florida, California, Arizona, and North Carolina. The company aims to maximize shareholder value as a leading provider of high-quality business distribution space for location-sensitive customers. At present, EastGroup oversees approximately 66.8 million square feet of assets, with plans stretching into substantial future developments.
For further updates and releases, contact EastGroup Properties or visit their website.
Topics Business Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.