Contact Information:

Name: George A. Morgan, III, “Trey”, President
Company: Morgan Property Group
Phone: (704) 909-4500
Email: tmorgan@morganpg.com

[FORESTVILLE, MD] — December 2011 — Morgan Property Group, LLC (“MPG”), a Charlotte based retail developer, is pleased to announce the sale of a recently completed retail center in the greater Washington, DC metro area. The project included a Walgreens drugstore and a Sherwin Williams retail center. The property is located at the northeast corner of Marlboro Pike & Donnell Dr. in Forestville, MD.

MPG, through its affiliate Marlboro Pike Realty, LLC, acquired the property in 2008 and oversaw all relocation, construction and development activities. Sherwin Williams, which was a repositioning of an existing store, opened in November 2010. Walgreens opened in September 2011, making this project the company’s first drugstore in the Forestville area.

“Both tenants are extremely pleased with the completed project,” said Trey Morgan, President of MPG. “Sherwin Williams continues a long history in this area, and Walgreens will no doubt be a strong retailer here for years to come.”

Marcus & Millichap Real Estate Investment Brokerage of Philadelphia represented the purchasers, Scottsdale-Miller Associates Limited Partnership II and HHL & HL-Indiana, LLC, and MPG in the transaction. The retail center sold at a purchase price of $10,880,000.

Walgreens www.walgreens.com is the nation’s largest drugstore chain with fiscal 2010 sales of $67 billion. The company operates 7,733 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services.

Sherwin Williams www.sherwin-williams.com is the nation’s largest specialty retailer of paint, stains, coatings, wall coverings and sundry items. With more than 3,300 neighborhood stores in North America, the company is dedicated to supporting the do-it-yourself consumer with exceptional products; resources to make confident color selections; and expert, personalized service that is focused on "do-it-yourselfer" unique project needs. Sherwin-Williams brand-name products can only be found at Sherwin-Williams stores.

For over thirty-five years, MPG has been a licensed real estate broker in Florida and more recently in Charlotte. The company focuses on investment brokerage, 1031 exchanges, leasing, and property management. MPG is a developer of triple net, credit tenant leased properties throughout the Southeast, from Maryland to Florida. MPG has offices in both Charlotte, North Carolina and Fort Lauderdale, Florida.

For more information, please visit Morgan Property Group at www.morganpg.com or contact us by phone at 704-909-1600 to discuss your commercial real estate needs.