| EastGroup Properties, Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is engaged in the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, including the states of Florida, Texas, Arizona and California. During the year ended December 31, 2008, EastGroup increased its ownership in real estate properties through its development and acquisition programs. The Company purchased five operating properties (669,000 square feet), one property for re-development (150,000 square feet) and 125 acres of developable land. Also during 2008, EastGroup transferred 16 properties (1,391,000 square feet) at the date of transfer from development to real estate properties. |
