v3.25.2
REAL ESTATE PROPERTIES (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Integer
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Real Estate Properties [Line Items]          
Number of Reporting Units | Integer     1    
Depreciation Expense $ 43,093 $ 37,646 $ 85,401 $ 74,851  
Real Estate Properties          
Land 905,877   905,877   $ 888,140
Building and building improvements 3,951,399   3,951,399   3,815,850
Tenant and other improvements 801,009   801,009   761,061
Right of use assets - Ground leases (operating) [1] 36,666   36,666   38,393
Development and value-add properties [2] 678,013   678,013   674,472
Real estate, development and value-add properties 6,372,964   6,372,964   6,177,916
Less accumulated depreciation (1,498,548)   (1,498,548)   (1,415,576)
Real estate, net $ 4,874,416   $ 4,874,416   $ 4,762,340
Building [Member]          
Real Estate Properties [Line Items]          
Property, Plant and Equipment, Useful Life 40 years   40 years    
Minimum [Member] | Building and Building Improvements          
Real Estate Properties [Line Items]          
Property, Plant and Equipment, Useful Life 3 years   3 years    
Maximum [Member] | Building and Building Improvements          
Real Estate Properties [Line Items]          
Property, Plant and Equipment, Useful Life 15 years   15 years    
[1] EastGroup applies the principles of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 842, Leases, and its related Accounting Standards Updates (“ASUs”) to account for its ground leases, which are classified as operating leases. The related operating lease liabilities for ground leases are included in Other liabilities on the Consolidated Balance Sheets.
[2] Value-add properties are defined in Note 6.