Morgan Property Group To Develop New Retail Center in Hopewell, Virginia

Contact Information:
Name: Trey Morgan, Executive Vice President
Company: Morgan Property Group, LLC
Phone: (704) 909-4500
Email: tmorgan@morganpg.com

[HOPEWELL, VA] — April 2008 — Morgan Property Group, LLC (“MPG”), a leading commercial developer in the Southeast U.S., is pleased to announce that it has acquired approximately 4 acres of land on the southeast corner of Woodlawn Street and Ashland Avenue in Hopewell, Virginia for the purpose of developing a new commercial shopping center, Ashland Point Plaza. MPG also unveiled plans to develop a new Walgreen’s drugstore as an anchor to the new development. The Walgreens will be 14,820 square and will feature a double lane drive-thru pharmacy.

Morgan Property Group is actively soliciting ground lease opportunities for potential bank, restaurant, and other retail tenants. “The expansion of Fort Lee has really spiked the interest in this submarket,” said Trey Morgan, Executive Vice President of Morgan Property Group. “We are confident this shopping center will be a real benefit to our neighbors in Fort Lee, as well as the community at large.”

For over thirty years, Morgan Property Group has been in the commercial development business. Headquartered in Fort Lauderdale, Florida, MPG focuses on neighborhood shopping center and single-tenant retail projects anchored by repeat build to suit clients like Walgreens, Publix, Sheetz, McDonalds, and Starbucks. MPG, 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.

For more information, please visit Morgan Property Group at www.morganpg.com