Murphy, Texas (Dallas, Texas MSA) (September 2020) – The Morgan Companies (“Morgan”) is pleased to announce the acquisition of a Walgreens drugstore located at 103 W FM Rd. 544 in Murphy, Texas. Morgan acquired the property on September 16, 2020. This is Morgan’s third acquisition within the State of Texas and second acquisition within the Dallas MSA.
The 15,120± SF building is situated on 1.92 acres at the intersection of the Murphy Road and West FM Road 544. The Property is within a major commercial corridor in Murphy, Texas, approximately 25 minutes outside of Dallas. Nearby retailers include Walmart, Lowe’s, Hobby Lobby, Starbucks, McDonald’s, Chick-fil-A, Sprouts, and Michaels.
“We think this property has a lot of potential,” said Trey Morgan, President of Morgan. “We are evaluating multiple paths forward, whether it’s with the existing tenant and building or a redevelopment.”
CBRE – Newport Beach represented the Seller, Belgravia Group, LLC, in the transaction.
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 complimentary 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.
For more information, please visit www.themorgancos.com.