EastGroup Properties has announced plans to build an industrial park on a 61 acre tract of land recently purchased for $26.5 million. Fronting the Florida Turnpike, the plans call for a 850,000 square foot industrial park. Located at 21001 Northwest 27th Avenue, the land was part of the 232-acre Calder Casino and Race Course. The seller, Calder Race Course Inc., is an affiliate of Churchill Downs, which purchased the racetrack in 1999 and added the casino in 2010. The sale breaks down to approximately $434,000 per acre. The Jackson, Mississippi-based REIT has about 36.6 million square feet of industrial space in its portfolio, including Miami-Dade area assets Executive Airport Distribution Center in Fort Lauderdale and the Sample 95 Business Park in Pompano Beach.
