Morgan Property Group, LLC is pleased to announce the acquisition of land at the northwest corner of Eastway Drive & E. Sugar Creek Road in Charlotte, North Carolina for the development of a new 7-Eleven gas station and convenience store. This will be the 6th 7-Eleven project developed by MPG in Charlotte.
MPG, through its affiliate Eastway Drive Realty, LLC, acquired 0.804 acres at this intersection on September 24, 2015 for a purchase price of $710,000 from Charles T. Adams. Grey Hanna of The Chambers Group represented the buyer in this transaction. This development will feature a 2,812 sq.ft. building and eight pumping stations. Construction is expected to commence 4th Quarter 2015 with an expected opening 1st Quarter 2016.
“Quality in-fill development is a strength of our company and a hallmark of 7-Eleven in Charlotte as well,” said Trey Morgan, President of MPG. “We are highly confident the project will develop in a way that compliments and enhances the surrounding area.”
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses nearly 10,500 7-Eleven® stores in North America and more than 56,600 7-Eleven stores globally, in 16 countries. 7-Eleven’s recent accolades include: #2 on Franchise Times Top 200 Franchise Companies for 2013, #2 on Entrepreneur magazine’s 2015 Top Global Franchise list, #10 spot on Entrepreneur magazine’s Franchise 500 list for 2015, and #3 in Forbes magazine’s Top 20 Franchises to Start. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
For over thirty-eight years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.