EastGroup Properties Reports Strong Leasing and Acquisitions

JACKSON, Miss., Sept. 3, 2026 /CourierPR/ -- EastGroup Properties, Inc. (NYSE: EGP), a self-administered equity real estate investment trust, has reported robust business activity, including significant leasing achievements and new acquisitions, as well as plans to participate in key industry conferences.

CEO Marshall Loeb highlighted the company’s performance during a recent press conference, noting, "Our portfolio continues to outperform our expectations, with leasing velocity remaining strong. We are looking forward to engaging with industry stakeholders at upcoming conferences and are available to answer any questions."

As of August 31, 2026, EastGroup’s portfolio stood at 97.1% leased and 96.1% occupied. 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 of 2026 to date, EastGroup executed eight leases on active development and first-generation properties, totaling approximately 280,000 square feet. Additionally, the company began construction on three development projects and one redevelopment project, with a total of 772,000 square feet and projected costs of $119,000,000. One of the projects is a 100% pre-leased, build-to-suit facility in San Diego.

The company also transferred a 100% leased, 113,000 square foot development project in Orlando to its operating portfolio. Since the company’s July 22, 2026 earnings release, EastGroup has acquired the Harris Ridge Business Center in Austin for approximately $83,000,000. The property, comprising five buildings with 388,000 square feet, is currently 95% leased to ten tenants.

In August, EastGroup acquired 70 acres of development land in the Northeast Dallas submarket for approximately $38,000,000. This land, known as Frisco Park 121 Phase II Land, is adjacent to the company’s previously acquired Frisco Park 121 Land and will expand the existing development plan from four buildings totaling approximately 350,000 square feet to 11 buildings totaling approximately 1,000,000 square feet.

Further, in September, EastGroup acquired 30 acres of development land, known as Crossroads Logistics Park Phase II Land, for approximately $12,000,000. This land acquisition will expand EastGroup’s existing park in the East Tampa submarket, increasing the development plan from three buildings totaling approximately 500,000 square feet to five buildings totaling approximately 850,000 square feet.

During the third quarter, EastGroup entered into forward equity sale agreements for 532,460 shares of common stock, with an initial weighted average forward price of $203.96 per share and approximate gross sales proceeds of $108,600,000. As of September 2, 2026, the company has 1,572,917 shares of forward equity sales agreements available for settlement, with gross sales proceeds of $318,200,000 based on an initial weighted average forward price of $202.30 per share.

Management is scheduled to participate in three key industry conferences: - The 18th Annual Evercore Real Estate Conference on September 9-10, 2026. - The Bank of America Securities Global Real Estate Conference on September 16, 2026, where executives will present at 4:30 p.m. Eastern Time. The presentation will be available live through a registration link on the company’s website, www.eastgroup.net. - The Mizuho REIT Conference on September 29, 2026.

EastGroup Properties, Inc., a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is focused on developing, acquiring, and operating industrial properties in high-growth markets across the United States, particularly in Texas, Florida, California, Arizona, and North Carolina. The company aims to maximize shareholder value by providing functional, flexible, and quality business distribution space for location-sensitive customers.