Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 123

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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 Three Months EndedSeptember 30,Nine Months Ended                                                                                                                                            September 30, Estimated Useful Life2025202420252024  (In thousands)Upgrade on acquisitions40 years$14 1,134 76 1,416 Tenant improvements:   New tenants                                            Lease term6,792 5,952 18,340 14,152 Renewal tenants                                            Lease term1,054 1,181 3,523 2,411 Building improvements5-40 years4,278 2,646 13,509 10,664 Roofs                                            5-15 years7,190 4,112 17,211 11,581 Parking lots                                            3-5 years525 1,064 3,040 3,312 Other                                            5 years723 1,460 3,577 3,647 Total real estate improvements (1) $20,576 17,549 59,276 47,183 

(1)Reconciliation of Total real estate improvements to Real estate improvements on the Consolidated Statements of Cash Flows:

 Nine Months Ended September 30,20252024(In thousands)Total real estate improvements$59,276 47,183 Change in real estate property payables(697)660 Change in construction in progress4,069 1,444 Real estate improvements on the Consolidated Statements of Cash Flows$62,648 49,287 

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Capitalized Leasing Costs

The Company’s leasing costs (principally commissions) are capitalized and included in Other assets, net. The costs are amortized over the terms of the associated leases, and the amortization is included in Depreciation and amortization expense.  Capitalized leasing costs for the three and nine months ended September 30, 2025 and 2024 were as follows:

  Three Months EndedSeptember 30,Nine Months Ended                                                                                                                                            September 30, Estimated Useful Life2025202420252024  (In thousands)Development and value-addLease term$1,263 2,271 4,632 6,692 New tenantsLease term2,306 2,849 9,596 10,652 Renewal tenantsLease term4,