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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details)
3 Months Ended 12 Months Ended
Mar. 31, 2022
USD ($)
ft²
Mar. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
ft²
Property Acquisition [Line Items]      
Amortization expense for lease intangibles $ 2,465,000 $ 1,431,000  
Above and below market lease intangibles incremental increase to rental Income $ 845,000 $ 229,000  
Maximum occupancy at acquisition date that defines an investment property as value-add 75.00%    
Minimum percentage of acquisition cost used in redevelopment costs that defines an investment property as value-add 20.00%    
Land $ 560,512,000   $ 544,505,000
Building and building improvements 2,473,788,000   2,408,944,000
Tenant and other improvements 582,708,000   570,627,000
Right of use assets - Ground leases (operating) [1] $ 20,488,000   $ 22,635,000
2022 Value-Add Property Acquisitions | Cypress Preserve 1 & 2      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2] 516,000    
Date Acquired [2] Mar. 28, 2022    
Cost of property acquired [2] $ 54,462,000    
2022 Acquisitions      
Property Acquisition [Line Items]      
Land 9,952,000    
Building and building improvements 42,059,000    
Tenant and other improvements 1,382,000    
Total real estate properties acquired 53,393,000    
Assets acquired, net of liabilities assumed $ 54,462,000    
Weighted average remaining lease term of acquired properties 4 years 7 months 6 days    
2022 Acquisitions | Leases, Acquired-in-Place [Member]      
Property Acquisition [Line Items]      
Lease intangibles [3] $ 2,027,000    
2022 Acquisitions | Below market lease [Member]      
Property Acquisition [Line Items]      
Lease intangibles [4] $ (958,000)    
2021 operating property acquisitions      
Property Acquisition [Line Items]      
Size (square feet) | ft² [5]     760,000
Cost of property acquired [5]     $ 108,149,000
2021 operating property acquisitions | Southpark Distribution Center 2      
Property Acquisition [Line Items]      
Size (square feet) | ft² [5]     79,000
Date Acquired [5]     Jun. 10, 2021
Cost of property acquired [5]     $ 9,177,000
2021 operating property acquisitions | DFW Global Logistics Centre      
Property Acquisition [Line Items]      
Size (square feet) | ft² [5]     611,000
Date Acquired [5]     Aug. 26, 2021
Cost of property acquired [5]     $ 89,829,000
2021 operating property acquisitions | Progress Center 3      
Property Acquisition [Line Items]      
Size (square feet) | ft² [5]     50,000
Date Acquired [5]     Sep. 23, 2021
Cost of property acquired [5]     $ 5,000,000
2021 operating property acquisitions | Texas Avenue [Member]      
Property Acquisition [Line Items]      
Size (square feet) | ft² [5]     20,000
Date Acquired [5]     Oct. 15, 2021
Cost of property acquired [5]     $ 4,143,000
2021 Value-add Property Acquisitions      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     1,046,000
Cost of property acquired [2]     $ 171,076,000
2021 Value-add Property Acquisitions | Access Point 1      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     156,000
Date Acquired [2]     Jan. 15, 2021
Cost of property acquired [2]     $ 10,501,000
2021 Value-add Property Acquisitions | Northpoint 200      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     79,000
Date Acquired [2]     Jan. 21, 2021
Cost of property acquired [2]     $ 6,516,000
2021 Value-add Property Acquisitions | Access Point 2      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     159,000
Date Acquired [2]     May 19, 2021
Cost of property acquired [2]     $ 10,743,000
2021 Value-add Property Acquisitions | Cherokee 75 Business Center 2      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     105,000
Date Acquired [2]     Jun. 17, 2021
Cost of property acquired [2]     $ 8,837,000
2021 Value-add Property Acquisitions | Siempre Viva Distribution Center 3-6      
Property Acquisition [Line Items]      
Size (square feet) | ft² [2]     547,000
Date Acquired [2]     Dec. 01, 2021
Cost of property acquired [2]     $ 134,479,000
2021 Acquisitions      
Property Acquisition [Line Items]      
Size (square feet) | ft²     1,806,000
Cost of property acquired     $ 279,225,000
Land     42,554,000
Building and building improvements     225,645,000
Tenant and other improvements     4,907,000
Right of use assets - Ground leases (operating)     12,708,000
Total real estate properties acquired     285,814,000
Operating lease liabilities - Ground leases [6]     (12,708,000)
Assets acquired, net of liabilities assumed     $ 279,225,000
Weighted average remaining lease term of acquired properties     2 years 10 months 24 days
2021 Acquisitions | Leases, Acquired-in-Place [Member]      
Property Acquisition [Line Items]      
Lease intangibles [3]     $ 9,949,000
2021 Acquisitions | Above Market Leases [Member]      
Property Acquisition [Line Items]      
Lease intangibles [3]     6,000
2021 Acquisitions | Below market lease [Member]      
Property Acquisition [Line Items]      
Lease intangibles [4]     $ (3,836,000)
[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 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.
[3] 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.
[4] 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.
[5] 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.
[6] Operating lease liabilities - Ground leases are included in Other liabilities on the Consolidated Balance Sheets.