EastGroup Properties, Inc. announced its recent business activity and participation in upcoming conferences, reporting a portfolio that was 97.1% leased and 96.1% occupied as of August 31, 2026. During July and August, the company signed 1,944,000 square feet of new and renewal leases with rental rate increases averaging 38.9% on a straight-line basis and 23.1% on a cash basis. In the third quarter to date, EastGroup executed eight leases on active development and first-generation properties totaling approximately 280,000 square feet, and began construction on three development projects and one redevelopment project totaling 772,000 square feet with projected total costs of about $119 million. The company also closed on the acquisition of Harris Ridge Business Center in Austin for approximately $83 million, and acquired development land in Northeast Dallas and East Tampa for about $38 million and $12 million, respectively, expanding its development plans. Additionally, EastGroup entered into forward equity sale agreements for 532,460 shares with approximate gross proceeds of $108.6 million, and management is scheduled to present at the Evercore, Bank of America Securities, and Mizuho conferences in September.
EastGroup Properties IncClosed $83M Harris Ridge acquisition, $50M land buys, and forward equity sales of 532,460 shares for ~$108.6M to fund development.
