EastGroup Properties has announced that it is initiating the development of two new business distribution buildings in the Houston market, World Houston 32 and Beltway Crossing 8.
“We are pleased to add these two new buildings to our Houston development program after having started construction of World Houston 31 (44,000 square feet) last December,” states EastGroup’s President and CEO David H. Hoster II. “Houston is EastGroup’s largest market with a total of 4,823,000 square feet and our strongest in terms of rents and occupancy.”
World Houston 32, located in the World Houston International Business Center, will contain 94,000 square feet and has a projected total cost of $6,831,000. The building, which is 100% preleased, is scheduled to be completed before the end of the year.
Beltway Crossing 8 will be in EastGroup’s Beltway Crossing Center at the Sam Houston Toll Road and Highway 249. It will offer 88,000 square feet of multi-tenant space with a projected total cost of $5,316,000 and will be available for occupancy in October.
EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.