EastGroup bets on industrial market strength with 200,000-sf speculative development along I-35 corridor

Eisenhauer Point Business Park Image courtesy of Xceligent

San Antonio’s industrial market has been on a winning streak over the past couple of years, and real estate investment trust EastGroup Properties Inc. is banking on its long-term health with a speculative development along the bustling I-35 corridor at Eisenhauer Road.

Dubbed Eisenhauer Point, the Mississippi-based REIT closed on more than 38 acres of Windcrest-incorporated land last year, and is now under construction for its first step of the development.

Phase one — which will span a bit more than 16 acres — is scheduled to be delivered later this quarter and will include two multi-tenant office/warehouse buildings. One will be a 133,000-square-foot cross dock, and the other will be a 68,000-square-foot rear-loading facility.

In addition to the possibility of setting aside three acres next door to the first set of buildings for outside storage facilities — a bonus David Hicks, a vice president with EastGroup said was difficult to come by on infill properties in that part of town — EastGroup still has 22 acres of land. The trust already has plans drawn up for an additional four buildings that will total roughly 350,000 square feet.

But getting started on that next leg of Eisenhauer Point will all depend on how quickly the first phase gets filled up. Cavender & Hill Properties Vice President Ty Bragg will manage the listing for the property.

Click to read entire article: EastGroup bets on industrial market strength with 200,000-sf speculative development along I-35 corridor (San Antonio Business Journal, 01-14-16)