DALLAS - EastGroup Properties has acquired five multitenant warehouse/distribution buildings totaling 722,000 sf in the northwest submarket of the Dallas area within Valwood Industrial Park.
The buildings are currently 95 percent leased to 15 customers and are projected to generate an annualized 6.3 percent cash yield. EastGroup also purchased 4.1 acres of adjacent land for future development.
The total investment, including first year capital improvements and lease-up costs, is $41,550,000.
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