XML 56 R45.htm IDEA: XBRL DOCUMENT
v3.22.1

REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2022 USD ($) ft² | Mar. 31, 2021 USD ($) | Dec. 31, 2021 USD ($) ft²
Property Acquisition [Line Items] |  |  |  |
Amortization expense for lease intangibles |  | $ 2,465,000 | $ 1,431,000 |
Above and below market lease intangibles incremental increase to rental Income |  | $ 845,000 | $ 229,000 |
Maximum occupancy at acquisition date that defines an investment property as value-add |  | 75.00% |  |
Minimum percentage of acquisition cost used in redevelopment costs that defines an investment property as value-add |  | 20.00% |  |
Land |  | $ 560,512,000 |  | $ 544,505,000
Building and building improvements |  | 2,473,788,000 |  | 2,408,944,000
Tenant and other improvements |  | 582,708,000 |  | 570,627,000
Right of use assets - Ground leases (operating) | [1] | $ 20,488,000 |  | $ 22,635,000
2022 Value-Add Property Acquisitions | Cypress Preserve 1 & 2 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] | 516,000 |  |
Date Acquired | [2] | Mar. 28, 2022 |  |
Cost of property acquired | [2] | $ 54,462,000 |  |
2022 Acquisitions |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Land |  | 9,952,000 |  |
Building and building improvements |  | 42,059,000 |  |
Tenant and other improvements |  | 1,382,000 |  |
Total real estate properties acquired |  | 53,393,000 |  |
Assets acquired, net of liabilities assumed |  | $ 54,462,000 |  |
Weighted average remaining lease term of acquired properties |  | 4 years 7 months 6 days |  |
2022 Acquisitions | Leases, Acquired-in-Place [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Lease intangibles | [3] | $ 2,027,000 |  |
2022 Acquisitions | Below market lease [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Lease intangibles | [4] | $ (958,000) |  |
2021 operating property acquisitions |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [5] |  |  | 760,000
Cost of property acquired | [5] |  |  | $ 108,149,000
2021 operating property acquisitions | Southpark Distribution Center 2 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [5] |  |  | 79,000
Date Acquired | [5] |  |  | Jun. 10, 2021
Cost of property acquired | [5] |  |  | $ 9,177,000
2021 operating property acquisitions | DFW Global Logistics Centre |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [5] |  |  | 611,000
Date Acquired | [5] |  |  | Aug. 26, 2021
Cost of property acquired | [5] |  |  | $ 89,829,000
2021 operating property acquisitions | Progress Center 3 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [5] |  |  | 50,000
Date Acquired | [5] |  |  | Sep. 23, 2021
Cost of property acquired | [5] |  |  | $ 5,000,000
2021 operating property acquisitions | Texas Avenue [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [5] |  |  | 20,000
Date Acquired | [5] |  |  | Oct. 15, 2021
Cost of property acquired | [5] |  |  | $ 4,143,000
2021 Value-add Property Acquisitions |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 1,046,000
Cost of property acquired | [2] |  |  | $ 171,076,000
2021 Value-add Property Acquisitions | Access Point 1 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 156,000
Date Acquired | [2] |  |  | Jan. 15, 2021
Cost of property acquired | [2] |  |  | $ 10,501,000
2021 Value-add Property Acquisitions | Northpoint 200 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 79,000
Date Acquired | [2] |  |  | Jan. 21, 2021
Cost of property acquired | [2] |  |  | $ 6,516,000
2021 Value-add Property Acquisitions | Access Point 2 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 159,000
Date Acquired | [2] |  |  | May 19, 2021
Cost of property acquired | [2] |  |  | $ 10,743,000
2021 Value-add Property Acquisitions | Cherokee 75 Business Center 2 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 105,000
Date Acquired | [2] |  |  | Jun. 17, 2021
Cost of property acquired | [2] |  |  | $ 8,837,000
2021 Value-add Property Acquisitions | Siempre Viva Distribution Center 3-6 |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² | [2] |  |  | 547,000
Date Acquired | [2] |  |  | Dec. 01, 2021
Cost of property acquired | [2] |  |  | $ 134,479,000
2021 Acquisitions |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Size (square feet) | ft² |  |  |  | 1,806,000
Cost of property acquired |  |  |  | $ 279,225,000
Land |  |  |  | 42,554,000
Building and building improvements |  |  |  | 225,645,000
Tenant and other improvements |  |  |  | 4,907,000
Right of use assets - Ground leases (operating) |  |  |  | 12,708,000
Total real estate properties acquired |  |  |  | 285,814,000
Operating lease liabilities - Ground leases | [6] |  |  | (12,708,000)
Assets acquired, net of liabilities assumed |  |  |  | $ 279,225,000
Weighted average remaining lease term of acquired properties |  |  |  | 2 years 10 months 24 days
2021 Acquisitions | Leases, Acquired-in-Place [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Lease intangibles | [3] |  |  | $ 9,949,000
2021 Acquisitions | Above Market Leases [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Lease intangibles | [3] |  |  | 6,000
2021 Acquisitions | Below market lease [Member] |  |  |  |
Property Acquisition [Line Items] |  |  |  |
Lease intangibles | [4] |  |  | $ (3,836,000)
[1] | EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets.
[2] | Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.
[3] | In-place lease intangibles and above market lease intangibles are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[4] | Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[5] | Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[6] | Operating lease liabilities - Ground leases are included in Other liabilities on the Consolidated Balance Sheets.

X
- Definition Assets acquired, net of liabilities assumed + References No definition available. + Details
Name: | egp_AssetsAcquiredNetOfLiabilitiesAssumed
Namespace Prefix: | egp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Lease intangibles + References No definition available. + Details
Name: | egp_LeaseIntangibles
Namespace Prefix: | egp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage of acquisition price to be spent on capital items to qualify as value-add property + References No definition available. + Details
Name: | egp_Percentageofacquisitionpricetobespentoncapitalitemstoqualifyasvalueaddproperty
Namespace Prefix: | egp_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of occupancy to qualify as value-add property + References No definition available. + Details
Name: | egp_Percentageofoccupancytoqualifyasvalueaddproperty
Namespace Prefix: | egp_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate amount of intangible asset amortization recognized as an adjustment to rental income during the period. + References No definition available. + Details
Name: | egp_RentalIncomeIncreaseDecreaseForAmortizationOfAcquiredInPlaceLeaseIntangibles
Namespace Prefix: | egp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Total real estate properties acquired + References No definition available. + Details
Name: | egp_TotalRealEstatePropertiesAcquired
Namespace Prefix: | egp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The capitalized costs incurred (excluded from amortization), as of the date of the balance sheet, to purchase, lease or otherwise acquire an unproved property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10.(c)(7)(ii)) -URI http://asc.fasb.org/extlink&oid=123726172&loc=d3e511914-122862 + Details
Name: | us-gaap_AcquisitionCostsCumulative
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details
Name: | us-gaap_AmortizationOfIntangibleAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Area of a real estate property. + References No definition available. + Details
Name: | us-gaap_AreaOfRealEstateProperty
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:areaItemType
Balance Type: | na
Period Type: | instant

X
- Definition Date when acquirer obtains control of acquired asset, in YYYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 50 -Section 15 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6911878&loc=d3e8732-128492 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 50 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123385561&loc=d3e9135-128495 + Details
Name: | us-gaap_AssetAcquisitionEffectiveDateOfAcquisition
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(d)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_InvestmentBuildingAndBuildingImprovements
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 4 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=124098289&loc=d3e6812-107765 + Details
Name: | us-gaap_Land
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123391704&loc=SL77918627-209977 + Details
Name: | us-gaap_OperatingLeaseLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of lessee's right to use underlying asset under operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123391704&loc=SL77918627-209977 + Details
Name: | us-gaap_OperatingLeaseRightOfUseAsset
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 55 -Paragraph 53 -URI http://asc.fasb.org/extlink&oid=123414884&loc=SL77918982-209971 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (g)(3) -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
Name: | us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Definition Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(f)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_TenantImprovements
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=egp_A2022ValueAddPropertyAcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_CypressPreserve12Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=egp_A2022AcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeasesAcquiredInPlaceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=egp_BelowmarketleaseMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=egp_A2021OperatingPropertyAcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_SouthparkDistributionCenterIIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_DFWGlobalLogisticsCentreMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_ProgressCenter3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_TexasAvenueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=egp_A2021ValueAddPropertyAcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_AccessPointIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_Northpoint200Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_AccessPoint2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_Cherokee75BusinessCenterMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=egp_SiempreVivaDistributionCenter36Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=egp_A2021AcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_AboveMarketLeasesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |