Tampa, FL – January 31, 2014 – CBRE has been selected by EastGroup Properties, a Jackson, Mississippi-based real estate investment trust (NYSE:EGP) and Tampa’s largest industrial landlord, as the exclusive leasing agent for an industrial portfolio that comprises 26 buildings totaling over two million square feet in the Tampa Bay area, plus future development at EastGroup’s new Madison Distribution Center. CBRE’s Rian Smith, Kostas Stoilas and Kris Courier are the brokerage professionals responsible for leasing.
“CBRE’s intimate knowledge of the local market, the team’s experience with the product, and relationships with tenants in the market were key factors in selection,” said CBRE Senior Managing Director Patricia Nooney. “We were also considered for our extensive national network and industrial platform, which includes specialty teams that can maximize advantages of EastGroup’s strategically located properties in close proximity to both I-4 and I-75 distribution corridors.”
Added CBRE’s Rian Smith, “Job and population growth are on the uptick in Tampa, and we are encouraged heading into 2014 that all the fundamentals in the industrial sector will continue to improve. Our goal now is to accelerate leasing volume at all EastGroup properties through an aggressive marketing program and outreach to CBRE’s global and national network.”
“Tampa is EastGroup’s second-largest market in the U.S., so integrating this proven team with CBRE’s national platform will give us a competitive advantage in the new year,” stated Chris Segrest, EastGroup’s Vice President, who oversees EastGroup’s Tampa assets.
EastGroup’s East Tampa submarket includes Madison Distribution Center, Oak Creek Commerce Center, Palm River Center, Silo Bend Distribution Center, Tampa East Distribution Center, and Walden Distribution Center. CBRE will also market build-to-suit opportunities at EastGroup’s well-established Oak Creek Commerce Center.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.