EastGroup Somersaults in Lewisville

By Liviu Oltean, Associate Editor

EastGroup Properties Inc. is the latest company to be spurred by the development frenzy in Plano’s SH 121 corridor, where KDC is currently building new headquarters for Toyota, FedEx Office and Liberty Mutual.

The firm announced the acquisition of a 28.1-acre site in neighboring Lewisville, where it plans to develop a four-building industrial project dubbed CreekView 121. The buildings will total more than 350,000 square feet and will be able to accommodate tenants requiring between 12,750 and 122,000 square feet. The buildings will have direct access to TX-121 and will be in the proximity of I-35E, Dallas North Tollway, DFW International Airport and Toyota’s new headquarters.

Leasing will be handled by Managing Director & Partner Blake Kendrick and Senior Associate Eric Crutchfield, both with Stream Realty Partners.

“We believe that dock-high, shallow-bay industrial is an underserved product type in the growing 121 corridor. Our state-of-the-art, multi-tenant business distribution buildings and strategic location will target contractor service companies seeking warehouse/showroom space to service the growing rooftops in the area, as well as other local, regional and national distributors seeking a high-image location,” David Hicks, vice president with EastGroup, said in a prepared statement.