EastGroup Properties Inc Acquires Industrial Property In Grapevine For $89.7M

EastGroup Properties Inc, represented by Marshall Loeb, has acquired the industrial asset located at 1160, 1200, 1250 Mustang Drive, and 1275 W. 17th St. in Grapevine. The property spans 611,000 square feet and was sold for a total of $89,700,000, resulting in a price per square foot of $147.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $89,700,000
• Square Footage: 611,000
• Price per Square Foot: $147
• Market: Grapevine

EastGroup Properties Inc, a real estate investment trust, made the purchase with Marshall Loeb acting as their representative. With this acquisition, EastGroup Properties expands its portfolio in the industrial sector.