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.

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