Flowery Branch, GA (May 2019) – The Morgan Companies (Morgan Cos.) is pleased to announce the recent acquisition of a 1.61± acre former Rite Aid at 5915 Spout Springs Road in Flowery Branch, GA. The property is prominently located on a signalized corner and is outparcel to Stonebridge Village, a regional shopping center with tenants such as Target, Home Depot, Kohl’s, TJ Maxx, PetSmart, Office Max, and Ross. Morgan plans to redevelop the former drugstore building on the property to make way for new retail.
“Our acquisition in Flowery Branch reflects the age-old real estate adage, ‘location, location, location,’” said Trey Morgan, President of Morgan Cos. “We couldn’t be more excited about developing a new project in Flowery Branch, and plan to announce new tenants soon.”
The Flowery Branch property is the second of two recent acquisitions in the Georgia area. Morgan Cos. acquired a former Rite Aid in Athens in March, which will be renovated and rebranded as a Walgreens.
Morgan Cos. also developed a freestanding Taco Bell and Cookout in Snellville, GA, in 2016. The properties were sold February 2017 and July 2018, respectively.
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 have acquired, developed, managed, and leased over $1 billion in multi-sector assets in markets across the eastern U.S.
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, hotel, medical facilities, and single-tenant properties. Our working relationships with national, regional, and local tenants build sustainable occupancy levels and tenant mixes that reduce the likelihood of future turnover. Morgan has the people, expertise, and resilience to provide solutions for all 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 give us a call at (704) 909-4500.