Morgan Property Group to Develop Walgreens Drugstore in Rocky Mount, VA

Contact Information:
Name: Trey Morgan
Company: Morgan Property Group
Phone: (704) 909-4505
Fax: (704) 909-4501
Email: tmorgan@morganpg.com

[ROCKY MOUNT, Virginia] – December 2009 – Morgan Property Group (“MPG”) is pleased to announce the development of a new freestanding Walgreens drugstore at the southeast corner of Old Franklin Turnpike and Market Place Drive in Rocky Mount, Virginia. This project will be the first Walgreens in Rocky Mount and Franklin County. Overall, this will be the fifteenth Walgreens location developed in the Commonwealth of Virginia by MPG.

Morgan Property Group acquired 1.38 acres of land from Danny M. Perdue, on which the 14,550 sq.ft. Walgreens drugstore will be developed. Hall Associates represented MPG in this acquisition, and the Seller was represented by Walker Commercial Services, Inc. The Walgreens facility will feature a single-lane drive thru. The anticipated store opening is Fall of 2010.

“We have acquired a truly ‘main and main’ location for Walgreens,” said Trey Morgan, Executive Vice-President of MPG. “We are excited to be part of the company’s ongoing expansion effort in southwest Virginia.”

For over thirty-three years, Morgan Property Group has been in the commercial real estate development and brokerage 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 and McDonalds. MPG, along with its affiliates, has several active development projects in Florida, Virginia, Maryland, Washington, D.C., Georgia, and the Carolinas.

Walgreens Co., based in Deerfield, Illinois, is the nation’s largest drugstore chain with fiscal 2008 sales of $59 billion. The company operates 6,658 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 690 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.