First Walgreens drugstore to be developed in the Town of Louisa

Contact Information:
Media Contact: Trey Morgan
(954) 522-6010, ext. 110
Email: tmorgan@morganpg.com

Drugstore to Open on Site in Summer 2007

LOUISA, Virginia – (August 2006) – Mid-Atlantic Commercial Properties, LLC (Mid-Atlantic) announces the development of the first Walgreens drugstore in the Town of Louisa at the southwest corner of East Main Street and Jefferson Highway. This will be sixth Walgreens drugstore Mid-Atlantic has developed in the Commonwealth of Virginia.

The free-standing Walgreens drugstore will be 14,820 square feet, and will feature a double-lane drive-thru. “Walgreens prides themselves on being America’s neighborhood pharmacy,” said Trey Morgan, President of Mid-Atlantic. “We feel this is the ideal neighborhood location for both the Town of Louisa and greater Louisa County.” The anticipated start date for construction is Fall 2006.

Mid-Atlantic acquired three parcels of land from James N. Plotkin and Gail W. Plotkin as part of the development. Jones Realty and Construction Corporation represented Mid-Atlantic as the broker in the transaction. Additional land is being reserved in the rear of the property for future development.

Mid-Atlantic Commercial Properties, LLC is a commercial development firm, with its headquarters based in Fort Lauderdale, Florida. Mid-Atlantic focuses on neighborhood shopping center and single-tenant retail projects anchored by repeat clients like Walgreens, Publix, Sheetz, Starbucks and Wendy’s. In addition, the company deals with investment brokerage and 1031 exchanges. Mid-Atlantic, along with its affiliate Morgan Property Group, has over a dozen active development projects in Virginia, Tennessee, Florida, and Washington D.C.

Walgreen Co. is the nation’s largest drugstore chain with fiscal 2005 sales of $42.2 billion. The company operates 5,401 stores in 47 states and Puerto Rico. Walgreens also provides additional services to pharmacy patients and prescription drug and medical plans through Walgreens Health Services, its managed care division, which includes Walgreens Health Initiatives Inc. (a pharmacy benefits manager), Walgreens Mail Service Inc., Walgreens Home Care Inc. and Walgreens Specialty Pharmacy.

For more information, please visit Morgan Property Group at www.morganpg.com or contact us by phone at 954-522-6010 to discuss your commercial real estate needs.