EastGroup expands in Florida

EastGroup Properties recently acquired a 112,000-square-foot business distribution property in Tampa, Fla.

The value of the transaction was approximately $7.4 million.

Constructed in 2001, the building (renamed Oak Creek IV) was 100 percent leased to a single customer at the time of sale, and the purchase includes land to accommodate a 46,000-square-foot expansion to the building.

EastGroup Properties Inc. is a self-administered equity real estate investment trust focused on the development, acquisition, and operation of industrial properties in Florida, Texas, California and Arizona.

***

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.