EastGroup Properties Inc. acquired the four-building Fairgrounds Business Park in San Antonio, Texas, for a purchase price of approximately $10.6 million.
The buildings, which were constructed in 1985 and 1986, contain a total of 231,000 square feet and are located in the Alamo Downs Business Park. The multitenant properties were 80 percent leased to six customers at the time of purchase.
This purchase is EastGroup’s fourth in San Antonio, according to company CEO David H. Hoster II.
EastGroup Properties Inc. is a self-administered equity real estate investment trust operating primarily in California, Florida, Texas and Arizona.