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August 19, 2009 (FinancialWire) -- EastGroup Properties (NYSE: EGP | Quote | Chart | News | PowerRating) has acquired three business distribution buildings containing 227,000 square feet in Dallas for a combined purchase price of $6.675 million.
The buildings, which were constructed in 1979 through 1981, are presently 87% occupied by six customers. EastGroup said that the buildings are projected to generate an annualized 9.2% yield at their current occupancy.
Jackson, Mississippi-based EastGroup Properties is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, with an emphasis in the states of Florida, Texas, Arizona and California.
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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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