EastGroup expands in Florida

Buys building, adjacent vacant lot

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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....