EastGroup Properties, Inc.

Overview

• Business: Internally-managed equity REIT focused on the development, acquisition, and operation of industrial properties in high-growth U.S. markets.
• Primary product: Functional, flexible business distribution space for location-sensitive customers, primarily 20,000 to 100,000 square feet.
• Core markets: Texas, Florida, California, Arizona, and North Carolina.
• Corporate form: Maryland corporation; intends to qualify and be taxed as a REIT under the Internal Revenue Code.
• Headquarters: Ridgeland, Mississippi.

Portfolio and scale (as of December 31, 2025)

• Total properties owned: 550 industrial properties in 12 states.
• Total portfolio size: Approximately 65,000,000 square feet, comprised of:
  • 510 business distribution properties: ~59,300,000 sq ft
  • 19 bulk distribution properties: ~4,900,000 sq ft
  • 21 business service properties: ~800,000 sq ft
• Operating portfolio occupancy: 97.0% leased across roughly 1,700 leases.
• Tenant concentration: No single tenant accounts for more than approximately 1.5% of annualized base rent.
• Development and value-add properties: 18.8% leased as of December 31, 2025.

Development, acquisitions, and dispositions (2025)

• Acquisitions:
  • 739,000 sq ft of operating properties and 300.4 acres of development land.
  • Total cost: $261,683,000.
• Development and value-add activity:
  • Began construction on a redevelopment project and six development projects totaling 1,439,000 sq ft.
  • Transferred 11 projects from development/value-add to real estate properties totaling 2,109,000 sq ft; costs at date of transfer: $279,082,000.
• Dispositions:
  • Sold a 12,000 sq ft operating property in San Francisco for gross proceeds of $3,573,000; no gain or loss was recognized on this disposition.
• Financing: Development and acquisitions are typically funded through a $675,000,000 unsecured bank credit facility.

People and operations

• Full-time employees: 103 (as of December 31, 2025).
• Administration and management: Headquarters and principal executive office in Ridgeland, Mississippi.
• Regional offices: Dallas, Los Angeles, Atlanta.
• Asset management offices: Houston, Orlando, Tampa, Phoenix.
• Property management teams: San Antonio, Austin, Miami, Jacksonville, San Francisco, Charlotte, Las Vegas, Greenville.
• Property administration (operations accounting): Company-wide.
• Service footprint: Regional offices in Texas, California, and Georgia oversee development and the company’s value-add program.

Summary

EastGroup is a REIT-based owner, developer, and operator of industrial properties concentrated in growth markets. As of year-end 2025, the company owned roughly 65 million square feet across 550 properties, maintained high occupancy, was active in development and value-add projects, and used a $675 million unsecured credit facility to support growth. The company operated through a network of regional, asset-management, and property-management offices and employed 103 people.