Morgan Property Group to Develop Orlando Walgreens

Contact Information:
Name: Trey Morgan
Company: Morgan Property Group
Phone: (954) 552-6010
Fax: (954) 522-6003
Email: tmorgan@morganpg.com

[ORLANDO, Florida] – March 2008 – Morgan Property Group (“MPG”) is pleased to announce that its principals have acquired approximately 19 acres of vacant land at the southeast corner of Auvers Boulevard and Semoran Boulevard (SR 436) in Orange County, Florida, at the gateway to the Baldwin Park community.

Semoran Partners, LLC, an affiliate of MPG, has unveiled plans to develop a new Walgreen’s anchored retail project on the 6-acre commercial tract fronting Semoran Boulevard. The 14,820 square foot Walgreens is scheduled to open in the first quarter of 2009.

“Morgan Property Group is excited to enter the Orlando market at such a prominent location,” said Trey Morgan, Executive Vice-President of MPG. “Between the road expansion of Auvers Boulevard connecting to a new major East-West connector and the proximity to Baldwin Park, we feel as though this project offers the dual benefits of both accessibility and convenience.” Auvers Boulevard is being widened to a four lane highway and will extend east to Dean Road in order to relieve SR 50 (Colonial Drive) traffic congestion. The scheduled roadway completion date is 2011.

For over thirty years, Morgan Property Group has been in the commercial development business with its headquarters based in Fort Lauderdale, Florida. Morgan Property Group 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. Morgan, along with its affiliates, has several active development projects in Florida, Virginia, Maryland, Washington, D.C., and the Carolinas. The company has offices in Fort Lauderdale, FL, Charlotte, NC, and Arlington, Virginia.

Walgreens Co., based in Deerfield, Illinois, is the nation’s largest drugstore chain with fiscal 2007 sales of $53.8 billion. The company operates 6,237 stores in 49 states and Puerto Rico. Walgreens is expanding its patient-first health care services beyond traditional pharmacy through Walgreens Health Services and Take Care Health Systems, a wholly owned subsidiary that manages 146 convenient care clinics at Walgreens drugstores.

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.