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South Florida

EastGroup proceeds with 76,000-square-foot development at Commerce Park

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Real estate investment trust EastGroup Properties has begun the development of a new business distribution building in Orlando, the Florida Real Estate Journal reported.
Southridge IX, a development located in EastGroup’s Southridge Commerce Park, is slated to contain 76,000 square feet and cost a total of $5.35 million. The building is scheduled to be completed in the spring of 2012.
EastGroup has already developed around $970,000 square feet in the park, which is currently 100 percent leased, according to the Journal. [Florida Real Estate Journal]