The portfolio is 86% leased to 14 tenants. The Jackson, MS-basedcompany expects it to generate a 6.4% yield at current occupancyand a 7.5% stabilized cash yield at 100% occupancy, according to acompany release.

"The acquisition of this portfolio is EastGroup's fourthinvestment in Charlotte and increases our total ownership in themarket to more than 1.6 million sf," says president and CEO DavidH. Hoster II. "This acquisition reflects our continued pursuit ofboth acquisition and development opportunities in Charlotte."

The newest acquisition joins four other properties inEastGroup's Charlotte stable. Those properties are the 322,000-sfNorthPark Business Park, which was 92% occupied as of Dec. 31; the77,000-sf Lindbergh Business Park, which was 86% occupied; the104,000-sf Westinghouse Distribution Center, which was 100%occupied; and the 456,000-sf Nations Ford Business Park, which wasalso 100% occupied.

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