Morgan Property Group - Management and Development of Commercial Real Estate

Morgan Property Group Announces the Opening of Two Freestanding Walgreens

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

[FORT LAUDERDALE, FL] — December 2008 — Morgan Property Group, LLC (“MPG”), a leading commercial developer in the Southeast U.S., is pleased to announce the recent opening of two freestanding Walgreens drugstores. One drugstore, which opened on October 2nd, is located at the southwest corner of US1 & Ohio Ave. in Fort Pierce, FL. The other drugstore, located at the southeast corner of Commercial Blvd. & S.R. 7 in Tamarac, FL, opened on November 24th.

Actual Site

Morgan Property Group acquired the land for both properties in late 2006. Soon thereafter, they oversaw the development of these stores from site plan approval through construction. Both Walgreens provide drive-thru pharmacy services and are relocations of nearby in-line stores.

“These stores have come out of the gate very well for Walgreens,” said Trey Morgan, Executive Vice President of Morgan Property Group. “We are sure they will be high quality producers for many years to come.”

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 and Charlotte, NC.

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 their 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.