EastGroup Properties plans to build a 98-acre warehouse development along SH 121 received the blessing from the Frisco City Council.
The development will provide over 1 million square feet of office and industrial space across 11 buildings. Community Impact reports that East Group hopes to attract tenants from industries with unique office, showroom, and warehouse needs, such as defense and pharmaceuticals. East Group intends to buy more land west of the original property.
On its website, EastGroup Properties, Inc. (NYSE: EGP) says it is a self-administered equity real estate investment trust focused on the development, acquisition, and operation of industrial properties in high-growth markets throughout the United States, with an emphasis on Texas, Florida, California, Arizona, and North Carolina. The Company’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 65.1 million square feet.
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