EastGroup president and CEO David H. Hoster II says his company plans to invest another $1 million in site development. Construction of the first building is scheduled for late in the first quarter of 2004.
"SouthRidge is a logical extension of our successful development program in Orlando where we have a regional office and over one million sf of industrial space," says Hoster. "The (70-acre) property is an infill site that will offer both speculative and build-to-suit industrial development opportunities in a prime location."
The property is strategically located in the northwest quadrant of the intersection of the Beeline Expressway and John Young Parkway. There is 3,400 ft of frontage on the Beeline, the major connector between Orlando International Airport and Interstate 4. "SouthRidge will offer a park setting with two lakes, upscale landscaping and extensive highway visibility," Hoster says.
EastGroup's industrial portfolio comprises 19.1 million sf of completed projects and 543,000 sf under development.
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