November, 2018 – The Morgan Companies (“Morgan”) is pleased to announce the acquisition of two properties in South Florida for redevelopment.
4530 Lantana Road, Lake Worth, FL – Morgan acquired the 2.14-acre property at 4530 Lantana Road, formerly occupied by Walgreens, on July 31st, 2018 for the total purchase price of $4.2 million. Scott Copeland of On Course Development, LLC represented Morgan in the transaction. Morgan will redevelop the property into a 5,636 square foot Wawa gas and convenience store with 16 fueling stations.
The Pennsylvania-based gas and convenience store chain has been rapidly expanding in South Florida since opening its first store in the area in 2017. Wawa has over 800 convenience stores (over 500 offering gas) in seven states across the east coast.
4998 10th Avenue N., Greenacres, FL – Morgan acquired the 2.87-acre property at 4998 10th Avenue N. on November 20th, 2018 for the total purchase price of $2,250,000. Dedicated Senior Medical Centers of Florida, LLC will reuse the existing 13,635 square foot building, which was also previously occupied by Walgreens.
Dedicated Senior Medical Center (“Dedicated”) is a family-owned primary and specialty care practice committed to delivering superior healthcare to Medicare-eligible seniors. The company has 15 location across Florida and Pennsylvania. Each center serves 2,000 to 3,500 patients and has as many as 50 employees. Dedicated is part of the ChenMed family of companies that also operates 38 Chen and JenCare Senior Medical Centers across the United States. ChenMed and its associated brands has grown by more than 420% since 2013.
About The Morgan Companies
For more than 40 years, the professionals at The Morgan Companies have produced quality commercial developments for its principals, clients, and investors. We are an aggressive developer of hotels, office buildings, and national credit tenant-anchored properties throughout the Eastern United States.
We handle all phases of the complex development process from site selection and governmental approvals to financing and construction. We also provide effective leasing programs and property and asset management services for retail shopping centers, office buildings, medical properties, and hotels. Our working relationships with national, regional, and local tenants build occupancy levels and create a tenant mix that reduces the likelihood of future turnover. Morgan has the people, the experience, and the expertise to provide solutions for your real estate needs.
We are proud to continue this tradition and look forward to working with you to achieve your goals. For more information, please visit www.themorgancos.com.