Morgan Announces First Development Project in Texas

New strip center in Dallas MSA to be anchored by Panera Bread

MURPHY, Texas (July 2021) – The Morgan Companies (“Morgan”) is pleased to announce the development of a new shopping center, Murphy Corner, located at the northwest corner of FM 544 & Murphy Road in Murphy, Texas. Murphy Corner will be approximately 9,000 square feet and will feature a new Panera Bread on the endcap with a double drive thru. The shopping center will replace a former Walgreens drugstore which will be demolished as part of the development. 

Morgan, through its affiliate MCM-Wags TX II, LLC, purchased the property in September 2020. The company planned for the property’s transition even before Walgreens left at the end of their lease term. Morgan signed a lease with Panera this month to anchor the new shopping center and plans to deliver the project by the summer of 2022. The property will be one of the first in the country to feature Panera’s new double drive thru concept.

Morgan has retained Edge Realty Partners out of Dallas, Texas as leasing agent for Murphy Corner.

This new development will be Morgan’s first development project in the Lonestar State. The company also has active development projects in Virginia, North Carolina, South Carolina, Arizona, Ohio, and Florida.

“The Texas success story is well known, and we’re excited to be a small part of its growth,” said Trey Morgan, President and CEO of Morgan. “We expect to announce additional tenants for Murphy Corner in the near term.”

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.  Morgan has active development projects in several states, and has offices in Charlotte, North Carolina and Fort Lauderdale, Florida.

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