Morgan Real Estate Announces Holiday Park Plaza Fully Leased

Contact Information:
Trey Morgan
Morgan Real Estate, Inc.
954-563-8600
954-563-9566
tmorgan@flaprop.com

Walgreens to open freestanding store in September

FORT LAUDERDALE, FL- (July 13, 2004)- Morgan Real Estate, Inc. is pleased to announce that the redeveloped Holiday Park Plaza in Fort Lauderdale is now fully leased. Hollywood Video, Sprint PCS, and Crown Liquors will join Dunkin Donuts, H&R Block, 99 Cents, and CD Warehouse, which are already open for business. Holiday Park Plaza will be anchored by a new 15,120 square foot freestanding Walgreens Drug Store with drive-thru pharmacy, that is currently under construction and scheduled to open in September.

Morgan Real Estate began redevelopment of the 102,000 square foot Holiday Park Plaza in August of 2002. The shopping center is located at the northeast corner of Sunrise Boulevard (U.S. 1) and NE 15th Avenue, across from a new 45,000 square foot Publix Supermarket, which is now under construction and projected to open in November. Morgan Real Estate is also a development partner in the Publix project.

Dunkin Donuts, H&R Block, 99 Cents, and CD Warehouse were tenants at Holiday Park Plaza prior to the redevelopment of the shopping center, and have been relocated to a new freestanding building on Sunrise Boulevard, the former site of LaFerme Restaurant. Dunkin’ Donuts has expanded to 2,900 square feet to include Baskin Robbins and drive-thru service. Hollywood Video and Sprint PCS will soon open in the eastern most building on Sunrise Boulevard, the former site of LaCoquille Restaurant. Walgreens remains open in their existing 12,580 square foot building on NE 15th Avenue. Crown Liquors will occupy this building when Walgreens moves to the corner and completes the redevelopment project.

“The redevelopment of Holiday Park Plaza should prove to be another major catalyst for retail expansion in the eastern Fort Lauderdale market,” said George Morgan, Jr., President of Morgan Real Estate. “We are pleased to welcome Hollywood Video, Sprint PCS, and Crown Liquors to our project, as these retailers will offer more convenient shopping options for the neighborhood.”

Morgan Real Estate is a licensed real estate broker, property manager, and commercial developer based in Fort Lauderdale, Florida. The company focuses on neighborhood shopping center and single-tenant retail projects, and is a preferred developer of the Walgreen Co. In addition, the company provides leasing and property management services for over 500,000 square feet of office and retail properties in Florida and Virginia.