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REAL ESTATE SOLD AND HELD FOR SALE DISCONTINUED OPERATIONS (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Sep. 30, 2023 USD ($) a ft² | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) a ft² | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) ft²
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Net proceeds from sales of real estate investments |  |  |  | $ 13,821 | $ 51,006 |
Real estate, net |  | $ 4,082,504 |  | 4,082,504 |  | $ 3,783,607
Recognized gain |  | 0 | $ 0 | 4,809 | $ 40,999 |
Right of use assets - ground leases | [1] | $ 18,340 |  | $ 18,340 |  | $ 19,391
2022 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  |  |  |  |  | 287,000
Net proceeds from sales of real estate investments |  |  |  |  |  | $ 51,006
Real estate, net |  |  |  |  |  | 10,007
Recognized gain |  |  |  |  |  | $ 40,999
World Houston 23 | 2023 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  | 125,000 |  | 125,000 |  |
Date sold |  |  |  | Mar. 31, 2023 |  |
Net proceeds from sales of real estate investments |  |  |  | $ 9,327 |  |
Real estate, net |  | $ 4,518 |  | 4,518 |  |
Recognized gain |  |  |  | 4,809 |  |
Metro Business Park | 2022 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  |  |  |  |  | 189,000
Date sold |  |  |  |  |  | Jan. 06, 2022
Net proceeds from sales of real estate investments |  |  |  |  |  | $ 32,851
Real estate, net |  |  |  |  |  | 5,880
Recognized gain |  |  |  |  |  | $ 26,971
Cypress Creek Business Park | 2022 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [2] |  |  |  |  | 56,000
Date sold | [2] |  |  |  |  | Mar. 31, 2022
Net proceeds from sales of real estate investments | [2] |  |  |  |  | $ 5,282
Real estate, net | [2] |  |  |  |  | 1,901
Recognized gain | [2] |  |  |  |  | 3,381
Right of use assets - ground leases |  |  |  |  |  | 1,745
Right of use liability, ground lease |  |  |  |  |  | $ 1,745
World Houston 15 East | 2022 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Size (square feet) | ft² |  |  |  |  |  | 42,000
Date sold |  |  |  |  |  | May 11, 2022
Net proceeds from sales of real estate investments |  |  |  |  |  | $ 12,873
Real estate, net |  |  |  |  |  | 2,226
Recognized gain |  |  |  |  |  | $ 10,647
2023 development land dispositions | 2023 dispositions |  |  |  |  |  |
Real Estate Properties Sold and Held for Sale [Line Items] |  |  |  |  |  |
Net proceeds from sales of real estate investments |  |  |  | 4,750 |  |
Recognized gain |  |  |  | $ 446 |  |
Acres of real estate investment property | a |  | 11.9 |  | 11.9 |  |
[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] | Cypress Creek Business Park is located on a ground lease. In conjunction with the sale of the property, the Company fully amortized the associated right-of-use asset and liability of $1,745,000.

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