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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended
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Jun. 30, 2022 USD ($) ft² a | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) ft² a Integer shares | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) ft² a
Property Acquisition [Line Items] |  |  |  |  |  |
Amortization expense for lease intangibles |  | $ 2,198,000 | $ 1,307,000 | $ 4,663,000 | $ 2,738,000 |
Above and below market lease intangibles incremental increase to rental Income |  | 507,000 | $ 245,000 | $ 1,352,000 | 474,000 |
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 |  | 689,195,000 |  | $ 689,195,000 |  | $ 544,505,000
Building and building improvements |  | 2,840,948,000 |  | 2,840,948,000 |  | 2,408,944,000
Tenant and other improvements |  | 605,251,000 |  | 605,251,000 |  | 570,627,000
Right of use assets - Ground leases (operating) | [1] | $ 20,119,000 |  | 20,119,000 |  | $ 22,635,000
Debt assumed in the purchase of real estate |  |  |  | $ 60,000,000 | $ 0 |
2022 operating property acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] | 1,706,000 |  | 1,706,000 |  |
Cost of property acquired | [2],[3] | $ 359,130,000 |  | $ 359,130,000 |  |
2022 operating property acquisitions | Cebrian Distribution Center and Reed Distribution Center |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2],[4] | 329,000 |  | 329,000 |  |
Date Acquired | [2],[4] |  |  | Jun. 01, 2022 |  |
Cost of property acquired | [2],[3],[4] | $ 49,726,000 |  | $ 49,726,000 |  |
2022 operating property acquisitions | 6th Street Bus Cntr, Benicia Distrib Cntr 1-5, Ettie Bus Cntr, Laura Alice Bus Cntr, Preston Distrb Cntr, Sinclair Distrib Cntr, Transit Distrb Cntr and Whipple Bus Cntr |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2],[4] | 1,377,000 |  | 1,377,000 |  |
Date Acquired | [2],[4] |  |  | Jun. 01, 2022 |  |
Cost of property acquired | [2],[3],[4] | $ 309,404,000 |  | $ 309,404,000 |  |
2022 Value-Add Property Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] | 745,000 |  | 745,000 |  |
Cost of property acquired | [3],[5] | $ 101,794,000 |  | $ 101,794,000 |  |
2022 Value-Add Property Acquisitions | Cypress Preserve 1 & 2 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] | 516,000 |  | 516,000 |  |
Date Acquired | [5] |  |  | Mar. 28, 2022 |  |
Cost of property acquired | [3],[5] | $ 54,462,000 |  | $ 54,462,000 |  |
2022 Value-Add Property Acquisitions | Zephyr Distribution Center |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] | 82,000 |  | 82,000 |  |
Date Acquired | [5] |  |  | Apr. 08, 2022 |  |
Cost of property acquired | [3],[5] | $ 29,017,000 |  | $ 29,017,000 |  |
2022 Value-Add Property Acquisitions | Mesa Gateway Commerce Park |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] | 147,000 |  | 147,000 |  |
Date Acquired | [5] |  |  | Apr. 15, 2022 |  |
Cost of property acquired | [3],[5] | $ 18,315,000 |  | $ 18,315,000 |  |
2022 Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  | 2,451,000 |  | 2,451,000 |  |
Cost of property acquired | [3] | $ 460,924,000 |  | $ 460,924,000 |  |
Land |  | 126,067,000 |  | 126,067,000 |  |
Building and building improvements |  | 315,996,000 |  | 315,996,000 |  |
Tenant and other improvements |  | 11,502,000 |  | 11,502,000 |  |
Total real estate properties acquired |  | 453,565,000 |  | 453,565,000 |  |
Assets acquired, net of liabilities assumed |  | $ 460,924,000 |  | $ 460,924,000 |  |
Weighted average remaining lease term of acquired properties |  | 3 years 8 months 12 days |  | 3 years 8 months 12 days |  |
2022 Acquisitions | Leases, Acquired-in-Place [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Lease intangibles | [6] | $ 11,418,000 |  | $ 11,418,000 |  |
2022 Acquisitions | Below market lease [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Lease intangibles | [7] | (4,059,000) |  | (4,059,000) |  |
2022 Acquisitions | Tulloch Corporation |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Debt assumed in the purchase of real estate |  |  |  | $ 60,000,000 |  |
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Common Shares Issued | shares |  |  |  | 1,868,809 |  |
Fair value of loans ssumed, asset acquisition |  |  |  | $ 60,000,000 |  |
Other Significant Noncash Transaction, Fair Value of Consideration Given, Common Shares Issued |  |  |  | $ 303,756,000 |  |
Number of land parcels acquired | Integer |  |  |  | 2 |  |
2021 operating property acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 760,000
Cost of property acquired | [2],[3] |  |  |  |  | $ 108,149,000
2021 operating property acquisitions | Southpark Distribution Center 2 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 79,000
Date Acquired | [2] |  |  |  |  | Jun. 10, 2021
Cost of property acquired | [2],[3] |  |  |  |  | $ 9,177,000
2021 operating property acquisitions | DFW Global Logistics Centre |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 611,000
Date Acquired | [2] |  |  |  |  | Aug. 26, 2021
Cost of property acquired | [2],[3] |  |  |  |  | $ 89,829,000
2021 operating property acquisitions | Progress Center 3 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 50,000
Date Acquired | [2] |  |  |  |  | Sep. 23, 2021
Cost of property acquired | [2],[3] |  |  |  |  | $ 5,000,000
2021 operating property acquisitions | Texas Avenue [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 20,000
Date Acquired | [2] |  |  |  |  | Oct. 15, 2021
Cost of property acquired | [2],[3] |  |  |  |  | $ 4,143,000
2021 Value-add Property Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 1,046,000
Cost of property acquired | [3],[5] |  |  |  |  | $ 171,076,000
2021 Value-add Property Acquisitions | Access Point 1 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 156,000
Date Acquired | [5] |  |  |  |  | Jan. 15, 2021
Cost of property acquired | [3],[5] |  |  |  |  | $ 10,501,000
2021 Value-add Property Acquisitions | Northpoint 200 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 79,000
Date Acquired | [5] |  |  |  |  | Jan. 21, 2021
Cost of property acquired | [3],[5] |  |  |  |  | $ 6,516,000
2021 Value-add Property Acquisitions | Access Point 2 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 159,000
Date Acquired | [5] |  |  |  |  | May 19, 2021
Cost of property acquired | [3],[5] |  |  |  |  | $ 10,743,000
2021 Value-add Property Acquisitions | Cherokee 75 Business Center 2 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 105,000
Date Acquired | [5] |  |  |  |  | Jun. 17, 2021
Cost of property acquired | [3],[5] |  |  |  |  | $ 8,837,000
2021 Value-add Property Acquisitions | Siempre Viva Distribution Center 3-6 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5] |  |  |  |  | 547,000
Date Acquired | [5] |  |  |  |  | Dec. 01, 2021
Cost of property acquired | [3],[5] |  |  |  |  | $ 134,479,000
2021 Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  |  |  |  |  | 1,806,000
Cost of property acquired | [3] |  |  |  |  | $ 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 | [8] |  |  |  |  | (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 | [6] |  |  |  |  | $ 9,949,000
2021 Acquisitions | Above Market Leases [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Lease intangibles | [6] |  |  |  |  | 6,000
2021 Acquisitions | Below market lease [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Lease intangibles | [7] |  |  |  |  | (3,836,000)
2021 development land acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of property acquired |  |  |  |  |  | $ 41,065,000
Acres of real estate investment property | a |  |  |  |  |  | 365.8
2022 development land acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of property acquired |  | $ 54,751,000 |  | $ 54,751,000 |  |
Acres of real estate investment property | a |  | 177.5 |  | 177.5 |  |
[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] | 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.
[3] | epresents the sum of the purchase price, closing costs and capitalized acquisition costs.
[4] | The Company acquired these operating properties along with two land parcels, also in Sacramento, CA and San Francisco, CA, in connection with its acquisition of Tulloch Corporation in June 2022. Size and cost are presented on an aggregate basis for the properties located in Sacramento, CA and San Francisco, CA, respectively. In consideration for this acquisition, the Company assumed a $60,000,000 loan and issued 1,868,809 shares of the Company’s common stock. The acquisition date fair value of the loan assumed was $60,000,000, and the acquisition date fair value of the common shares, which was based on the closing share price on the acquisition date, was $303,756,000.
[5] | 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.
[6] | 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.
[7] | 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.
[8] | Operating lease liabilities - Ground leases are included in Other liabilities on the Consolidated Balance Sheets.

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