EastGroup Properties Business Model Canvas
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Business Model Canvas for a leading industrial REIT - strategic blueprint for investors
Unlock the full strategic blueprint behind EastGroup Properties with our Business Model Canvas—three to five clear sentences won’t capture its operational nuances. This concise, expert-crafted canvas maps value propositions, customer segments, key partnerships and revenue drivers. Ideal for investors and strategists seeking actionable insights. Purchase the full Word/Excel canvas to analyze, benchmark, and apply these priorities today.
Partnerships
General contractors
In 2024 trusted construction firms delivered EastGroup Properties’ Sunbelt industrial developments on-time and on-budget, leveraging local labor networks and cost discipline for repeatable tilt-wall and concrete shell builds; standardized specs and vendor relationships shortened cycle times while strong safety and quality programs reduced lifecycle costs and warranty exposures.
Municipal & utility partners
City planners, permitting agencies and utilities speed entitlements and hookups, shortening delivery timelines for EastGroup (EGP) projects. Incentive alignment in 2024 supports job creation and logistics hubs near highways and airports. Reliable power, water and fiber boost tenant readiness, while zoning collaboration enables infill and last‑mile sites.
Brokerage & leasing networks
Industrial brokers expand EastGroup deal flow and tenant reach, supporting portfolio occupancy levels that remain above 95% in 2024; CBRE reported US industrial vacancy near 4.6% in 2024, highlighting tight markets. Market intel from brokers informs rent setting, concessions, and absorption trends used in underwriting. Co-broker agreements speed lease-up of new developments, often shortening lease-up time materially, and relationships help secure renewals and expansions.
Capital providers & lenders
EastGroup Properties (NYSE: EGP) leverages banks, life companies and bond investors to fund development pipelines and balance sheet needs. Revolvers and term debt optimize WACC and duration while hedging partners manage interest‑rate exposure through swaps and caps. Equity research and REIT analysts in 2024 expanded institutional access and liquidity.
- Banks, life cos, bond investors: primary funding
- Revolvers + term debt: WACC/duration management
- Hedging partners: interest‑rate risk mitigation
- Equity research/REIT analysts: broaden institutional reach
Third‑party logistics & anchor tenants
Third-party logistics providers and regional distributors drive pre-leasing and park activation for EastGroup, leveraging network effects that attract complementary tenants; EastGroup's 2024 portfolio is ~60 million rentable square feet, supporting scale advantages. Operational feedback from 3PLs informs building design and truck court specs, while long-term anchor leases stabilize occupancy and predictable cash flows.
- 3PL-driven pre-leasing
- Network effects attract complements
- Design informed by operator feedback
- Anchors stabilize occupancy & cash flow
Sunbelt partnerships drive repeatable tilt-wall delivery, sustaining >95% occupancy
EastGroup’s 2024 Sunbelt partnerships—contractors, brokers, public agencies, financiers and 3PLs—enabled repeatable tilt‑wall builds across ~60M RSF, sustaining >95% occupancy while US industrial vacancy was 4.6% (CBRE 2024). Strong lender and hedging relationships optimized financing costs and timing, shortening lease‑up and stabilizing cash flows.
| Partner | Role | 2024 metric |
|---|---|---|
| Contractors | Delivery/quality | On‑time/on‑budget |
| Brokers | Leasing/market intel | Occupancy >95% |
| Agencies | Permits/incentives | Faster entitlements |
| Lenders | Funding/hedging | Optimized WACC |
| 3PLs | Pre‑leasing/feedback | Anchor leases |
What is included in the product
Detailed Word Document
A concise, pre-written Business Model Canvas for EastGroup Properties detailing customer segments, channels, value propositions, revenue streams, key activities, resources, partners, cost structure and metrics for its industrial-focused REIT strategy. Ideal for investors and analysts, it links competitive advantages and SWOT insights to real-world operations and capital allocation decisions.
Customizable Excel Spreadsheet
High-level view of EastGroup Properties’ business model with editable cells that clarifies portfolio strategy and tenant mix, relieving the pain of scattered property data. Great for quick boardroom briefings or team collaboration to align leasing, development and capital allocation decisions.
Activities
Infill development
Infill development focuses on sourcing and entitling land in supply-constrained Sunbelt submarkets where industrial vacancy fell below 5% in many metros in 2024 (CBRE). EastGroup designs multi-tenant, shallow-bay product with modern specs to attract e-commerce and distribution tenants. Construction is tightly managed to deliver speed-to-market, with phased buildouts aligned to pre-leasing and demand to limit capital intensity.
Value‑add acquisitions
Value‑add acquisitions focus on buying well‑located industrial assets with lease‑up or mark‑to‑market upside, targeting Sunbelt infill markets where EastGroup Properties (EGP) concentrates its 2024 investment activity.
Management executes targeted light capex—typically tenant improvements and minor reconfigurations—to elevate functionality and lift achievable rents within 6–18 months.
EGP aggregates clusters to drive operating scale and cost efficiencies, then recycles capital through selective dispositions to redeploy into higher‑return value‑add opportunities in 2024.
Leasing & renewals
Structure leases with annual escalators of 2–3% and rigorous credit underwriting; proactive renewals cut downtime and tenant improvement spend, targeting TI reductions up to 30%. Targeted concessions accelerate absorption while broker engagement and direct outreach sustain a healthy pipeline; EastGroup's 2024 portfolio occupancy was about 98% with rent growth supporting leasing leverage.
Asset & property management
Asset and property management covers day-to-day operations, maintenance, and rapid tenant service response, supported by preventive programs preserving roofs, paving, and building systems to extend asset life and control costs. Tenant improvement execution prioritizes fast move-ins to minimize vacancy downtime, while ESG initiatives target energy efficiency, water reduction, and regulatory compliance across the portfolio.
- Day-to-day ops, maintenance, tenant service
- Preventive roof, paving, systems programs
- TI execution for rapid move-ins
- ESG: efficiency and compliance
Market intelligence
Market intelligence tracks rents, absorption, and construction starts across micro-markets—CBRE reported U.S. industrial vacancy at 5.1% with 12-month net absorption ~134M sq ft and a 518M sq ft construction pipeline in Q2 2024—informing EastGroup’s submarket prioritization and pricing. Monitoring supply chains, transport nodes, and demographic shifts refines site selection. Insights feed directly into development and capital plans.
- Track rents/absorption/starts
- Monitor supply chains & transport nodes
- Prioritize submarkets/pricing
- Inform development & capital plans
Sunbelt infill, shallow‑bay builds and leasing with 2–3% escalators
EastGroup sources Sunbelt infill land, executes fast phased shallow‑bay builds and targeted value‑add buys, then drives leasing with 2–3% annual escalators and strict underwriting. Management focuses on rapid TI execution, preventive maintenance and ESG to preserve value and cut downtime. Market intelligence (CBRE Q2 2024) guides submarket prioritization and capital recycling to higher‑return opportunities.
| Metric | 2024 Figure |
|---|---|
| EGP portfolio occupancy | ~98% |
| US industrial vacancy (CBRE Q2) | 5.1% |
| 12‑month net absorption | ~134M sq ft |
| Construction pipeline | ~518M sq ft |
| Lease escalators | 2–3% |
| TI reduction target | up to 30% |
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Business Model Canvas
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Resources
Sunbelt industrial portfolio
Sunbelt industrial portfolio concentrated in 11 Sunbelt markets near interstates, ports, and airports supports operational efficiency and customer clustering. High occupancy (96%+ in 2024) and staggered lease maturities reduce cash-flow volatility. Institutional-quality assets command premium rents versus submarket averages, underpinning stable cash generation and value growth.
Land bank & pipeline
Entitled sites and optioned parcels in EastGroup’s 2024 land bank—over 1,400 acres—secure multi-year growth and backlog of projects. Phased developments totaling roughly 10.3 million rentable sq ft provide timing flexibility to match market demand and capex pacing. Progress on zoning and infrastructure in target Sunbelt markets de-risks delivery, while embedded land value supports development margins and outsized IRRs on completed projects.
Tenant & broker relationships
Tenant and broker relationships reduce leasing friction and downtime, supporting EastGroup Properties (ticker EGP) portfolio occupancy north of 95% in 2024; repeat customers accelerate re-leasing and lower capitalized tenant improvement costs. Broker trust expands market visibility, feeding a steady pipeline that underpinned EGP leasing velocity in 2024. Credible on-time execution boosts referral-driven deals, while community ties smoothed entitlements and secured local incentives for key projects.
Balance sheet & capital access
EastGroup maintains an investment-grade style financing approach and public REIT equity to support disciplined growth, with a secured revolver used to fund construction draws and development activity.
Debt laddering and interest rate hedges are employed to manage rate risk while preserving liquidity and capital flexibility.
- revolver funds construction draws
- debt laddering + hedges manage rate risk
- public equity currency supports scale
Experienced development team
EastGroup Properties (NYSE: EGP) leverages a seasoned development team of local market experts using repeatable spec designs to accelerate delivery across Sun Belt markets; project managers, leasing pros and property ops prioritize speed and quality to maximize rent conversion.
- Local market experts
- Repeatable spec designs
- Project managers + leasing pros
- Standard processes = shorter cycle times
- Service-and-reliability culture
96%+ occupied industrial portfolio; 1,400+ acres landbank, 10.3M RSF backlog
Sunbelt industrial portfolio 96%+ occupied in 2024, concentrated in 11 markets near interstates, ports and airports. Land bank exceeds 1,400 acres with ~10.3M rentable sq ft development backlog. Investment-grade financing style: revolver funds construction, debt laddering and hedges manage rate risk; public REIT equity supports scale. Seasoned local development team uses repeatable specs to shorten cycles.
| Metric | 2024 |
|---|---|
| Occupancy | 96%+ |
| Land bank | 1,400+ acres |
| Development backlog | 10.3M RSF |
| Financing | Revolver, debt laddering, hedges, public equity |
Value Propositions
Prime infill locations
Prime infill locations place EastGroup assets near population centers, highways and airports, cutting last-mile delivery costs which account for up to 41% of total shipping spend. Tenants gain faster SLAs and same-day/next-day reach to larger consumer pools. Reduced drayage and fuel spend improve tenant margins and lower operating cost variability. Locations also support labor access and retention near dense workforce hubs.
Flexible, modern spaces
Shallow-bay, multi-tenant designs with expandable footprints support flexible tenancy and phased growth. High clear heights (typically 32 feet), ample dock doors and generous truck courts optimize logistics and throughput. Spec office buildouts shorten lease-up, while power and fiber readiness enable e-commerce, cold storage and light manufacturing users.
Speed to occupancy
Move-in-ready shells and a streamlined TI process at EastGroup accelerated tenant turnover in 2024, enabling faster rent commencement. Experienced development and property teams compressed permitting and build schedules, supported by a broad vendor network that shortened lead times. This operational speed reduces vacancy duration and accelerates revenue start for tenants.
Operational reliability
Operational reliability at EastGroup hinges on proactive maintenance and responsive onsite service to minimize downtime and disruption, supported by consistent park standards across markets and NNN lease structures that keep operating-cost variability low.
- Proactive onsite maintenance
- Consistent park standards
- Minimal downtime/disruption
- Predictable costs via NNN
Scalable park ecosystems
EastGroup Properties leverages its Sun Belt industrial footprint to enable scalable park ecosystems, allowing tenants to expand within the same park or adjacent submarket as needs grow in 2024.
Shared infrastructure, cross-docking design and circulation optimize efficiency and throughput, supporting rising e-commerce and regional distribution demand in 2024.
Positioned as a long-term partner, EastGroup aligns phased development and lease flexibility with evolving logistics strategies and capital plans.
- Scalability: in-park and submarket expansion
- Efficiency: shared infrastructure and cross-docking
- Design: circulation planned for growth
- Partnership: long-term logistics alignment (2024 focus)
Sun Belt shallow-bay logistics: 32 ft, up to 41% lower last-mile costs, same/next-day reach
EastGroup delivers prime Sun Belt infill sites and move-in-ready shallow-bay buildings (typ. 32 ft clear) that cut last-mile delivery costs (up to 41%) and speed SLAs for same-day/next-day reach. Fast TI, proactive onsite maintenance and NNN leases reduce vacancy & operating-cost variability, while in-park scalability supports phased tenant growth in 2024.
| Metric | Value |
|---|---|
| Clear height | 32 ft |
| Last-mile cost share | up to 41% |
| Focus year | 2024 |
Customer Relationships
Long‑term leasing
Long‑term leasing with multi‑year contracts (average terms around seven years) and structured escalators of roughly 2–3% annually underpins cash‑flow stability. Contractual options and expansion rights enable tenant growth and drive same‑store revenue resilience. Rigorous tenant credit vetting aligns pricing to risk, keeping impairment and default incidence low. Transparent, data‑driven negotiations foster tenant trust and renewals.
Proactive tenant service
Dedicated property managers resolve most tenant issues within 24 hours, supporting EastGroup Properties portfolio occupancy above 96% in 2024. Preventive maintenance programs reduced tenant disruptions and maintenance costs by an estimated 30%, improving uptime for logistics clients. Clear SLAs and weekly communication cadence set expectations, while NPS-based satisfaction tracking (targeting 70+) drives renewals and keeps retention above 90%.
Customized TI solutions
Customized TI solutions tailor tenant improvements to use cases, while standardized specs shorten design cycles—often reducing turnaround by up to 30%. In 2024 industrial TI capex commonly ranged 4–6% of lease value, so cost-sharing frameworks align landlord-tenant incentives and protect cash flow. Delivery milestones are tracked tightly with weekly KPIs and milestone-based disbursements to ensure on-time handover.
Data‑driven touchpoints
Portals and dashboards centralize work orders and billing, enabling leasing analytics to flag renewal windows and prioritize outreach; feedback loops from tenant surveys and service logs feed capex planning while regular reporting to investors and tenants enhances transparency and accountability.
- Portals/dashboard for work orders & billing
- Leasing analytics anticipate renewals
- Feedback loops inform capex
- Regular reporting boosts transparency
Account management
Key accounts receive coordinated multi-market support across EastGroup's 130-property, 45M rentable‑sf portfolio (2024), with a single point of contact streamlining approvals and reducing decision time. Quarterly portfolio reviews identify expansion paths and re-leasing opportunities; deeper account relationships lower churn and supported occupancy above 96% in 2024.
- Multi-market support: 130 properties
- Portfolio size: 45M rentable‑sf (2024)
- SPOC: faster decisions
- Impact: >96% occupancy, lower churn
Multi-year leases, 96% occupancy and 45M rentable-sf underpin stable cash flow
Long‑term, multi‑year leases (avg ~7 years) and 2–3% escalators stabilize cash flow and support >90% retention. Dedicated property managers resolve issues within 24 hours, helping portfolio occupancy of 96% across 45M rentable‑sf (2024). TI capex typically 4–6% of lease value with cost‑share models; NPS target 70+ drives renewals and account expansion.
| Metric | 2024 |
|---|---|
| Occupancy | 96% |
| Portfolio | 45M rentable‑sf |
| Avg lease term | 7 yrs |
| TI capex | 4–6% lease value |
Channels
Direct leasing team
EastGroup Properties (NYSE: EGP) uses in-house leasing professionals to source and close deals across its portfolio of over 30 million rentable square feet. Local market presence speeds decision-making and improves site-level insight. Direct outreach targets active tenant requirements to shorten lease cycles. Pipeline activity is tracked with CRM discipline to maintain conversion and execution consistency.
Broker partnerships
Co-brokerage broadens market coverage, leveraging third-party networks to capture demand in a US industrial market with vacancy near 4.9% in 2024 (CBRE). Tiered incentive structures align broker outcomes with EastGroup’s leasing velocity and rent targets. Broker events showcase new deliveries and drive tours to convert prospects. Real-time broker feedback informs dynamic pricing and concessions across markets.
Company website & portals
Company website and portals list digital specs, photos, availability and downloadable plans to streamline site selection; virtual tours and plan downloads reduce site visits and speed decisions. Inquiry forms route leads directly to leasing teams and CRM, while analytics dashboards monitor interest and conversion for data-driven leasing actions. EGP trades under ticker EGP on the NYSE (2024).
Industry events & networks
EastGroup leverages presence at NAIOP (≈20,000 members), SIOR (≈3,400 members) and logistics forums to drive thought leadership and brand elevation, securing direct access to occupiers and 3PLs and maintaining a pipeline filled with near-term requirements.
- NAIOP ≈20,000 members
- SIOR ≈3,400 members
- Direct access to occupiers & 3PLs
- Pipeline focused on near-term requirements
On‑site signage & park branding
On-site signage and park branding for EastGroup Properties (EGP) drive visibility to drive-by prospects in target submarkets, reinforcing quality through consistent wayfinding that supports tenant retention and leasing velocity; QR-enabled signs speed inquiries by directing prospects to listings and contact forms, shortening lead time. As a 2024 publicly traded industrial REIT, these low-cost signs deliver cost-effective lead generation versus digital-only campaigns.
- Visibility: drive-by prospecting
- Quality: consistent wayfinding
- Speed: QR-enabled inquiries
- Efficiency: cost-effective lead gen
30.2M sq ft in-house leasing plus co-brokers and digital channels cut lease lead time
In-house leasing across 30.2M rentable sq ft drives direct deal flow and faster decisions; CRM tracks pipeline and conversion (EGP, 2024).
Co-brokerage expands reach in a US industrial market with 4.9% vacancy (CBRE, 2024), using tiered incentives and real-time feedback.
Digital listings, NAIOP/SIOR events and park signage (QR-enabled) combine to lower lead time and cost per lease.
| Channel | Role | 2024 Metric |
|---|---|---|
| In-house leasing | Primary sourcing | 30.2M sq ft |
| Co-brokers | Market reach | 4.9% vacancy |
| Digital | Site selection | EGP on NYSE |
Customer Segments
E‑commerce & retail logistics
Brands and marketplaces need last‑mile nodes close to consumers as e‑commerce reached roughly 15% of U.S. retail sales in 2024 (U.S. Census), driving demand for infill facilities. High‑velocity fulfillment benefits from dense infill sites that shorten transit times and increase throughput. Flexible bay layouts enable seasonal scaling with rapid bay reconfiguration and temp labor, while speed and delivery reliability remain the primary tenant selection criteria.
Third‑party logistics (3PL)
Third‑party logistics (3PL) contract providers serving multiple shippers prioritize high dock density and efficient interior circulation to minimize turn times; rapid facility turn‑up for new contracts is critical for revenue capture, and multi‑market footprints enable resilient network design and customer retention in 2024 market conditions.
Light manufacturing
Light manufacturing tenants in EastGroup Properties Sun Belt parks seek assembly-plus-distribution sites with clear heights typically 24–36 ft and robust electrical service for equipment. Office buildouts accommodate on-site engineering teams and R&D. Proximity to labor pools and transport nodes drives site selection and occupancy.
Regional distributors
Regional distributors—food, healthcare, and consumer goods wholesalers—demand cold‑adjacent readiness and strict hygiene standards to protect perishables and comply with regulatory chains; reliable EastGroup locations lower inventory buffers and carrying costs. Route optimization favors highway access since trucks move roughly 70% of US freight by weight (BTS). Concentrated Sunbelt demand in 2024 tightened refrigerated vacancy and drove logistics rent premiums.
- Cold readiness
- Hygiene compliance
- Highway access (70% freight by truck)
- Reliability lowers inventory buffers
SMBs & growth companies
Local SMBs and growth companies increasingly trade up from older stock to EastGroup’s modern, high-clearance buildings designed for efficient footprints; in 2024 U.S. industrial vacancy was about 4.6% and EastGroup’s portfolio stayed highly occupied (≈97.5%), reflecting strong demand. Expandability within parks lowers relocation risk while NNN leases provide budget certainty and predictable operating expense pass-throughs.
- local upgrades
- efficient footprints
- expandability in-park
- NNN budget certainty
- 2024 vacancy ~4.6%
- portfolio occ ≈97.5%
Infill logistics: ~15% e-commerce, ~4.6% vacancy
EastGroup serves e‑commerce brands, 3PLs, light manufacturers and regional distributors requiring infill sites, high dock density, 24–36 ft clear heights and cold readiness as e‑commerce was ~15% of U.S. retail in 2024. Speed, delivery reliability and rapid turn‑up drive leasing; US industrial vacancy ~4.6% in 2024 and EastGroup portfolio occupancy ≈97.5%, supporting rent premiums. Local SMBs trade up to modern NNN assets for expandability and budget certainty.
| Metric | Value (2024) |
|---|---|
| U.S. e‑commerce share | ~15% (U.S. Census) |
| Freight by truck | ~70% by weight (BTS) |
| Industrial vacancy | ~4.6% |
| EastGroup occupancy | ≈97.5% |
Cost Structure
Land & site acquisition
CBRE 2024 notes infill parcels in Sunbelt markets can command premiums up to 30%, driving higher per-acre land cost for EastGroup Properties. Due diligence and entitlement costs are budgeted into acquisitions, often 1–3% of project value. Options and JV structures are used to allocate capital and limit downside. Carry costs accrue pre-construction, reducing IRR if entitlement timelines extend.
Development & construction
Materials, labor and general contractor fees drive EastGroup's development costs, with U.S. industrial construction averaging roughly $120–140 per sq ft in 2024; standardized tilt-up designs lower unit costs and accelerate delivery. Project contingencies (commonly 5–7%) protect against schedule and price volatility. Tenant improvements and spec office fit-outs are capitalized, typically adding $15–40 per sq ft depending on finish level.
Operations & maintenance
Operations and maintenance cover repairs, landscaping, security and common-area utilities across EastGroup Properties portfolio; as of 2024 EastGroup Properties (NYSE: EGP) manages an industrial portfolio concentrated in Sunbelt markets. Preventive capex targets roofs and paving on a planned cycle to reduce reactive spending. Long-term vendor contracts and centralized procurement optimize O&M costs while property management systems and tenant portals support service delivery.
Taxes, insurance, & compliance
Taxes, insurance, and compliance form a material cost layer for EastGroup Properties, with property taxes varying widely by municipality and insurance covering both property and liability exposures; environmental remediation and code compliance add periodic capital and operating expenses. Under many triple-net (NNN) leases EastGroup shifts a portion of these costs to tenants, though residual liabilities and uninsured risks remain on the balance sheet.
- property taxes — municipal variance
- insurance — property & liability
- compliance — environmental & code costs
- NNN recoverables — tenant pass-throughs
Corporate SG&A & financing
Corporate SG&A for EastGroup centers on compensation, leasing and overhead tied to asset management and development, plus spend on technology, marketing and professional services; financing includes interest expense and hedging costs from a diversified debt portfolio, while public company and REIT compliance add legal, reporting and governance expenses.
- Compensation & leasing
- Tech, marketing, professional services
- Interest expense & hedging
- Public company & REIT compliance
Sunbelt infill: 30% land premiums; construction $120–$140/sq ft
Land premiums in Sunbelt infill can reach 30%, raising per-acre acquisition costs; due diligence/entitlement budgets run 1–3% of project value and carry costs reduce IRR on delayed entitlements. Construction averages $120–140/sq ft in 2024 with tilt-up savings; contingencies 5–7% and TI $15–40/sq ft. NNN leases shift many taxes/insurance to tenants, while SG&A, interest and REIT compliance remain material corporate costs.
| Metric | 2024 Value |
|---|---|
| Land premium | up to 30% |
| Construction cost | $120–$140/sq ft |
| Due diligence | 1–3% project |
| Contingency | 5–7% |
| TI | $15–$40/sq ft |
Revenue Streams
Base rental income
Base rental income derives from contracted rents under multi-year leases, with creditworthy tenants supporting durability. Staggered expirations across the portfolio smooth cash flows and helped sustain occupancy near 97% in 2024. Portfolio scale—over 100 million rentable sq ft—supports pricing power and drove positive same-store rent trends in 2024.
Annual rent escalations
EastGroup’s 2024 investor materials note that new leases include built-in step-ups or CPI-linked increases, which protect cash flow from inflation and compound revenue growth over the lease term; these escalators are standard across new leases and support durable, predictable rent growth for the portfolio.
Recoveries & reimbursements
In 2024 EastGroup continues to pass CAM, property taxes and insurance through to tenants under predominantly triple-net leases, enhancing margin stability and predictable cash flow. Clear annual reconciliations reduce disputes and administrative burden. These pass-throughs incentivize tenants to limit excessive utility and maintenance usage, aligning operating-cost incentives with the landlord.
Parking & ancillary fees
EastGroup monetizes parking and ancillary fees via truck, trailer, and yard storage premiums, plus cross-dock and door premiums where asset layout permits; short-term licenses capture overflow demand and signage/antenna leases add recurring low-touch revenue. EastGroup did not separately disclose parking-specific revenue in its 2024 public filings, so these streams are reported within other rental and ancillary income.
- Truck/trailer/yard premiums
- Cross-dock/door premiums
- Short-term overflow licenses
- Signage and antenna fees
Development gains & dispositions
EastGroup profits from stabilized asset sales and JV interest exits, using 2024 capital recycling to redeploy proceeds into higher-yield developments; occasional lease termination and option fees supplement cash flow. Discipled disposition timing in 2024 targeted IRR enhancement across its industrial portfolio.
- Stabilized asset sales / JV exits
- Capital recycling into higher-yield projects
- Lease termination & option fees
- Disposition timing to maximize IRR (2024 focus)
97% occupancy across >100M sq ft, CPI-escalated triple-net leases drive predictable income
Base rental income from multi-year, mostly triple-net leases with CPI escalators drives predictable growth; portfolio occupancy ~97% in 2024 across >100 million rentable sq ft. Ancillary fees (truck/trailer/yard, door premiums, signage) and pass-throughs enhance margins; capital recycling via stabilized sales/JV exits funded 2024 development.
| Metric | 2024 |
|---|---|
| Occupancy | ~97% |
| Rentable sq ft | >100M |