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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
USD ($)
ft²
Sep. 30, 2020
USD ($)
Sep. 30, 2021
USD ($)
ft²
Sep. 30, 2020
USD ($)
Dec. 31, 2020
USD ($)
ft²
Property Acquisition [Line Items]          
Right of use assets - Ground leases (operating) [1] $ 23,051,000   $ 23,051,000   $ 11,073,000
Amortization expense for lease intangibles 1,647,000 $ 1,342,000 4,385,000 $ 4,048,000  
Above and below market leases Increase (decrease) rental Income 230,000 $ 332,000 $ 704,000 $ 1,078,000  
Percentage of acquisition price to be spent on capital items to qualify as value-add property     20.00%   20.00%
Percentage of occupancy to qualify as value-add property     75.00%   75.00%
2020 Acquisitions [Member]          
Property Acquisition [Line Items]          
Total Real Estate Properties         $ 73,560,000
Total assets acquired, net of liabilities assumed         $ 76,518,000
Weighted Average Remaining Lease Term of Acquired Properties         3 years 10 months 24 days
Land         $ 23,565,000
Buildings         42,024,000
Tenant Improvements         7,971,000
Cost of Property Acquired         $ 76,518,000
Area of Real Estate Property | ft²         509,000
2020 Acquisitions [Member] | Leases, Acquired-in-Place [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [2]         $ 3,257,000
2020 Acquisitions [Member] | Above Market Leases [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [2]         104,000
2020 Acquisitions [Member] | Below market lease [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [3]         (403,000)
2021 operating property acquisitions          
Property Acquisition [Line Items]          
Cost of Property Acquired $ 104,006,000   $ 104,006,000    
Area of Real Estate Property | ft² 740,000   740,000    
2021 operating property acquisitions | Southpark Distribution Center II          
Property Acquisition [Line Items]          
Cost of Property Acquired [4] $ 9,177,000   $ 9,177,000    
Area of Real Estate Property | ft² [4] 79,000   79,000    
Date of Acquisition [4]     Jun. 10, 2021    
2021 operating property acquisitions | DFW Global Logistics Centre          
Property Acquisition [Line Items]          
Cost of Property Acquired $ 89,829,000   $ 89,829,000    
Area of Real Estate Property | ft² 611,000   611,000    
Date of Acquisition     Aug. 26, 2021    
2021 operating property acquisitions | Progress Center 3          
Property Acquisition [Line Items]          
Cost of Property Acquired $ 5,000,000   $ 5,000,000    
Area of Real Estate Property | ft² 50,000   50,000    
Date of Acquisition     Sep. 23, 2021    
2021 Value-add Property Acquisitions          
Property Acquisition [Line Items]          
Cost of Property Acquired [5] $ 36,597,000   $ 36,597,000    
Area of Real Estate Property | ft² [5] 499,000   499,000    
2021 Value-add Property Acquisitions | Access Point I          
Property Acquisition [Line Items]          
Cost of Property Acquired [5] $ 10,501,000   $ 10,501,000    
Area of Real Estate Property | ft² [5] 156,000   156,000    
Date of Acquisition [5]     Jan. 15, 2021    
2021 Value-add Property Acquisitions | Northpoint 200          
Property Acquisition [Line Items]          
Cost of Property Acquired [5] $ 6,516,000   $ 6,516,000    
Area of Real Estate Property | ft² [5] 79,000   79,000    
Date of Acquisition [5]     Jan. 21, 2021    
2021 Value-add Property Acquisitions | Cherokee 75 Business Center          
Property Acquisition [Line Items]          
Cost of Property Acquired [5] $ 8,837,000   $ 8,837,000    
Area of Real Estate Property | ft² [5] 105,000   105,000    
Date of Acquisition [5]     Jun. 17, 2021    
2021 Value-add Property Acquisitions | Access Point 2          
Property Acquisition [Line Items]          
Cost of Property Acquired [5] $ 10,743,000   $ 10,743,000    
Area of Real Estate Property | ft² [5] 159,000   159,000    
Date of Acquisition [5]     May 19, 2021    
2021 Acquisitions          
Property Acquisition [Line Items]          
Total Real Estate Properties $ 148,982,000   $ 148,982,000    
Operating Lease Liabilities - ground leases (12,708,000)   (12,708,000)    
Total assets acquired, net of liabilities assumed $ 140,603,000   $ 140,603,000    
Weighted Average Remaining Lease Term of Acquired Properties 2 years 9 months 18 days   2 years 9 months 18 days    
Land $ 6,596,000   $ 6,596,000    
Buildings 127,709,000   127,709,000    
Tenant Improvements 1,969,000   1,969,000    
Right of use assets - Ground leases (operating) 12,708,000   12,708,000    
Cost of Property Acquired $ 140,603,000   $ 140,603,000    
Area of Real Estate Property | ft² 1,239,000   1,239,000    
2021 Acquisitions | Leases, Acquired-in-Place [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [2] $ 5,763,000   $ 5,763,000    
2021 Acquisitions | Above Market Leases [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [2] 5,000   5,000    
2021 Acquisitions | Below market lease [Member]          
Property Acquisition [Line Items]          
Intangible acquired associated with purchase of real estate [3] $ (1,439,000)   $ (1,439,000)    
2020 operating property acquisitions          
Property Acquisition [Line Items]          
Cost of Property Acquired [4]         $ 48,656,000
Area of Real Estate Property | ft² [4]         347,000
2020 operating property acquisitions | Wells Point One          
Property Acquisition [Line Items]          
Cost of Property Acquired [4]         $ 6,231,000
Area of Real Estate Property | ft² [4]         50,000
Date of Acquisition [4]         Feb. 28, 2020
2020 operating property acquisitions | Cherokee 75 Business Center I          
Property Acquisition [Line Items]          
Cost of Property Acquired [4]         $ 8,323,000
Area of Real Estate Property | ft² [4]         85,000
Date of Acquisition [4]         Dec. 15, 2020
2020 operating property acquisitions | The Rock          
Property Acquisition [Line Items]          
Cost of Property Acquired [4]         $ 34,102,000
Area of Real Estate Property | ft² [4]         212,000
Date of Acquisition [4]         Dec. 17, 2020
2020 Value-Add Property Acquisitions | Rancho Distribution Center [Member]          
Property Acquisition [Line Items]          
Cost of Property Acquired [5]         $ 27,862,000
Area of Real Estate Property | ft² [5]         162,000
Date of Acquisition [5]         Oct. 15, 2020
[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] In-place lease intangibles and above market lease intangibles are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[3] Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[4] Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[5] Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use.  Acquired properties meeting either of the following two conditions are considered value-add properties:  (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.