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HOUSTON-A lack of acquisitions and increased development wereamong the main topics during EastGroup Properties' second quarterearnings call. The 1.4-million-sf World Houston InternationalBusiness Center took center stage with two projects breaking groundalong with its leasing gains.
Senior executives from the Jackson, MS-based REIT told analystsand shareholders yesterday that the slow acquisition environmentled to a stronger emphasis on development. In the Houston park,work has begun on a spec project, the 68,000-sf World Houston 22,and the 125,000-sf World Houston 22, a build-to-suit that will betaken down by Kuehne + Nagle early in 2007.
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