EastGroup Properties has received approval from the Frisco City Council for a major industrial development on a 98-acre site along State Highway 121 in Frisco. The planned project is designed as a multi-building warehouse and business park that will combine industrial and office space on a large contiguous land parcel.
According to local reporting cited in the announcement, the development is expected to deliver more than 1 million square feet of office and industrial space distributed across 11 separate buildings. The configuration is intended to accommodate a range of space needs, creating a campus-style environment that can serve users requiring both front-office functions and back-of-house logistics operations.
EastGroup is positioning the project to appeal to tenants with specialized requirements that blend office, showroom, and warehouse uses. Industries specifically highlighted as targets for the development include defense-related occupiers and pharmaceutical companies, both of which often require flexible floor plates, secure operations, and a mix of administrative and distribution space within a single location.
In addition to the initial 98-acre site, EastGroup has indicated that it intends to acquire additional land to the west of the original property. That prospective expansion would give the company further optionality to scale the project or to phase new buildings over time as tenant demand is identified, while maintaining control of a larger industrial node along the SH 121 corridor.
EastGroup Properties, Inc. (NYSE: EGP) describes itself as a self-administered equity real estate investment trust focused on the development, acquisition, and operation of industrial properties in high-growth markets across the United States. The company notes that its strategy places particular emphasis on Texas, Florida, California, Arizona, and North Carolina, reflecting a concentration in Sun Belt and other population growth markets.
The REIT reports that its portfolio, including assets in development, value-add acquisitions in lease-up, and properties under construction, comprises approximately 65.1 million square feet. The planned Frisco project will add to this national industrial footprint, reinforcing the company’s focus on logistics-oriented assets in markets experiencing sustained economic and demographic expansion.
