EastGroup expands in San Antonio
Land for further construction included
By Inman News, Wednesday, February 9, 2005.EastGroup Properties acquired the 524,000-square-foot Arion Business Park in San Antonio, Texas.
The value of the transaction was $40 million.
Arion is a master-planned business park containing 14 industrial buildings and 15.5 acres of land for the future development of approximately another 170,000 square feet. The buildings were constructed between 1988 and 2000 and were 91.2 percent leased to 25 tenants at the time of sale.
This acquisition increases EastGroup's ownership to 777,000 square feet in San Antonio, a market that the company entered in August 2004.
EastGroup Properties Inc. is a self-administered equity real estate investment trust.
***
What's your opinion? Send your Letter to the Editor to opinion@inman.com.
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
You must login or register to post a comment.