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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Jun. 30, 2025 USD ($) a | Jun. 30, 2024 USD ($) | Jun. 30, 2025 USD ($) a | Jun. 30, 2024 USD ($) | Dec. 31, 2024 USD ($) ft² a
Asset Acquisition [Line Items] |  |  |  |  |  |
Amortization expense for lease intangibles |  | $ 3,067,000 | $ 1,893,000 | $ 6,285,000 | $ 3,819,000 |
Amortization of above and below market leases |  | 1,520,000 | $ 546,000 | 3,087,000 | $ 1,153,000 |
Land |  | 905,877,000 |  | 905,877,000 |  | $ 888,140,000
Building and building improvements |  | 3,951,399,000 |  | 3,951,399,000 |  | 3,815,850,000
Tenant and other improvements |  | 801,009,000 |  | 801,009,000 |  | 761,061,000
Right of use assets - Ground leases (operating) | [1] | 36,666,000 |  | 36,666,000 |  | 38,393,000
In-place lease intangibles |  | 57,689,000 |  | 57,689,000 |  | 59,101,000
Above market lease intangibles |  | 564,000 |  | 564,000 |  | 564,000
Below market lease intangibles |  | $ 28,797,000 |  | $ 28,797,000 |  | 29,198,000
2024 Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Land |  |  |  |  |  | 41,815,000
Building and building improvements |  |  |  |  |  | 312,911,000
Tenant and other improvements |  |  |  |  |  | 27,049,000
Right of use assets - Ground leases (operating) |  |  |  |  |  | 21,836,000
Total real estate properties acquired |  |  |  |  |  | 403,611,000
In-place lease intangibles | [2] |  |  |  |  | 27,102,000
Above market lease intangibles | [2] |  |  |  |  | 121,000
Below market lease intangibles | [3] |  |  |  |  | (18,987,000)
Operating lease liabilities - Ground leases | [4] |  |  |  |  | (21,836,000)
Assets acquired, net of liabilities assumed |  |  |  |  |  | $ 390,011,000
Weighted average remaining lease term of acquired properties |  |  |  |  |  | 4 years 1 month 6 days
2024 Operating Property Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [5],[6] |  |  |  |  | 2,474,000
Asset Acquisition, Consideration Transferred | [5],[6],[7] |  |  |  |  | $ 390,011,000
2024 Operating Property Acquisitions | Spanish Ridge Industrial Park |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6] |  |  |  |  | 231,000
Date Acquired | [6] |  |  |  |  | Jan. 23, 2024
Asset Acquisition, Consideration Transferred | [6],[7] |  |  |  |  | $ 54,859,000
2024 Operating Property Acquisitions | 147 Exchange |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6] |  |  |  |  | 274,000
Date Acquired | [6] |  |  |  |  | May 03, 2024
Asset Acquisition, Consideration Transferred | [6],[7] |  |  |  |  | $ 52,945,000
2024 Operating Property Acquisitions | Hays Commerce Center 3 & 4 |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6] |  |  |  |  | 179,000
Date Acquired | [6] |  |  |  |  | Aug. 19, 2024
Asset Acquisition, Consideration Transferred | [6],[7] |  |  |  |  | $ 35,781,000
2024 Operating Property Acquisitions | Riverpoint Industrial Park |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6] |  |  |  |  | 779,000
Date Acquired | [6] |  |  |  |  | Nov. 12, 2024
Asset Acquisition, Consideration Transferred | [6],[7] |  |  |  |  | $ 87,576,000
2024 Operating Property Acquisitions | DFW Global Logistics Centre 5-8 |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6],[8] |  |  |  |  | 492,000
Date Acquired | [6],[8] |  |  |  |  | Nov. 21, 2024
Asset Acquisition, Consideration Transferred | [6],[7],[8] |  |  |  |  | $ 75,852,000
2024 Operating Property Acquisitions | Akimel Gateway |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [6],[8] |  |  |  |  | 519,000
Date Acquired | [6],[8] |  |  |  |  | Dec. 26, 2024
Asset Acquisition, Consideration Transferred | [6],[7],[8] |  |  |  |  | $ 82,998,000
2024 development land acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Acres of real estate investment property | a |  |  |  |  |  | 61.1
Payments to Acquire Land |  |  |  |  |  | $ 13,762,000
2025 development land acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Acres of real estate investment property | a |  | 94.5 |  | 94.5 |  |
Payments to Acquire Land |  |  |  | $ 50,228,000 |  |
[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] | In-place lease intangibles and above market lease intangibles are each included in Other assets, net on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
[3] | Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
[4] | Operating lease liabilities — Ground leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
[5] | Excludes acquired development land as discussed below.
[6] | 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.
[7] | Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs.
[8] | This operating property is located on land subject to a ground lease. The right of use assets for ground leases are included in Real estate properties on the Consolidated Balance Sheets.

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