EastGroup Properties is moving forward with three industrial projects in Tampa totaling 604,000 square feet and $73.7 million in projected costs, according to the real estate investment trust’s third-quarter earnings report released October 21.
The largest investment is Bell Creek 1 & 2, a 226,000-square-foot development budgeted at $42.6 million and expected to enter the company’s operating portfolio in October 2028. Crossroads 3, a 156,000-square-foot project costing an estimated $26.9 million, and Oak Creek 1, a $4.2 million redevelopment covering 222,000 square feet, are both expected to transfer in October 2027.
At Crossroads Logistics Park in East Tampa, the company is also preparing for a larger buildout after purchasing another 30.3 acres in September for approximately $13.3 million. The acquisition expands the planned industrial park from three buildings totaling 500,000 square feet to five buildings with approximately 850,000 square feet.
The Tampa projects are among 21 developments and redevelopments EastGroup had underway across 14 markets at the end of September, representing 4.1 million square feet and a combined projected cost of $636.7 million. Those projects were 25% leased as of October 20.
EastGroup has also increased its nationwide development plans for 2026, raising its projected construction starts from $325 million to $390 million and its acquisition guidance from $215 million to $360 million.