EastGroup Properties announced significant business activity, including the acquisition of Riverpoint Industrial Park in Atlanta, comprising three industrial buildings totaling 779,000 square feet, for approximately $88,000,000. This property, developed in 2020, is 100% leased to six tenants, expanding the company's Atlanta operating portfolio to approximately 2,246,000 square feet, which is 98.1% leased.
The company is also scheduled to close on a property in the Dallas market containing four industrial buildings, currently 100% leased, for approximately $77,000,000. Additionally, EastGroup acquired 26 acres of development land in Nashville for approximately $10,100,000, which is expected to accommodate the future development of four buildings totaling approximately 350,000 square feet.
In the fourth quarter of 2024 to date, EastGroup sold 876,709 shares of common stock through its continuous common equity offering program, generating aggregate net proceeds of approximately $151,000,000. The company also entered into forward equity sale agreements for 642,740 shares of common stock, with approximate gross sales proceeds of $113,000,000. These financing activities enhance EastGroup's financial flexibility for future investments and development.
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