April 26, 2024 1:50 pm
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Developer gets creative to acquire land in Mesa for industrial development

(Via EastGroup Properties Inc.)

By Brandon Brown | Phoenix Business Journal

With land becoming such a hot commodity in Phoenix’s East Valley, a developer had to make four separate transactions to acquire 50 acres for a new industrial development in Mesa.

Mississippi-based EastGroup Properties Inc. (NYSE: EGP) spent more than $13.5 million on four pieces of property, including land from the Arizona Department of Transportation, so it can build the class A industrial project it is calling Gateway Interchange, according to real estate database Vizzda.

Read the full subscription story from the Phoenix Business Journal.

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