JACKSON, MISSISSIPPI, February 28, 2025 — EastGroup Properties, Inc. (NYSE: EGP) (the “Company”, “we”, “our”, “us” or “EastGroup”) announced today its recent business activity.
As of February 27, 2025, EastGroup’s portfolio was 97.1% leased and 95.8% occupied. During the first quarter of 2025 to date, 1,438,000 square feet of new and renewal leases were signed with rental rate increases averaging 45.0% on a straight-line basis and 30.9% on a cash basis.
Also, since our earnings release dated February 6, 2025, the Company executed three leases on development properties totaling approximately 151,000 square feet.