JACKSON, Miss. (AP) — Jackson-based EastGroup Properties has announced the acquisition of five multi-tenant warehouse-distribution buildings totaling 722,000 square feet in Dallas.

In a news release, the company said the buildings are 95% leased to 15 customers and are projected to generate an annualized 6.3 percent cash yield.

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The buildings are in the northwest submarket of the Dallas metropolitan area in Valwood Industrial Park. The company also purchased 4.1 acres of adjacent land for future development. The total investment is $41.5 million.