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REAL ESTATE PROPERTIES (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2024 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2024 USD ($) Integer | Sep. 30, 2023 USD ($) | Dec. 31, 2023 USD ($)
Real Estate Properties [Line Items] |  |  |  |  |  |
Number of Reporting Units | Integer |  |  |  | 1 |  |
Depreciation Expense |  | $ 40,046 | $ 35,031 | $ 114,897 | $ 103,567 |
Real Estate Properties |  |  |  |  |  |
Land |  | 876,198 |  | 876,198 |  | $ 814,364
Building and building improvements |  | 3,562,908 |  | 3,562,908 |  | 3,336,615
Tenant and other improvements |  | 727,945 |  | 727,945 |  | 684,573
Right of use assets - Ground leases (operating) | [1] | 17,006 |  | 17,006 |  | 17,996
Development and value-add properties | [2] | 654,092 |  | 654,092 |  | 639,647
Real estate, development and value-add properties |  | 5,838,149 |  | 5,838,149 |  | 5,493,195
Less accumulated depreciation |  | (1,376,198) |  | (1,376,198) |  | (1,273,723)
Real estate, net |  | $ 4,461,951 |  | $ 4,461,951 |  | $ 4,219,472
Building [Member] |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 40 years |  | 40 years |  |
Minimum [Member] | Building and Building Improvements |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 3 years |  | 3 years |  |
Maximum [Member] | Building and Building Improvements |  |  |  |  |  |
Real Estate Properties [Line Items] |  |  |  |  |  |
Property, Plant and Equipment, Useful Life |  | 15 years |  | 15 years |  |
[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 in Note 6.

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- Definition Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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