Morgan Property Group, LLC is pleased to announce the sale of a closed freestanding KFC restaurant located near the intersection of University Drive & Westview Drive in Coral Springs, Florida.
MPG, through its affiliate FPIP V, LTD., acquired the vacant land in 1996 and soon after ground leased the property to KFC. The restaurant remained open for over 11 years. Since then, the KFC franchisee closed the location and KFC terminated the ground lease. The property is approximately 1.22 acres and the building 2,961 sq.ft. MPG sold the property to TD Bank, N.A. for a purchase price of $1,450,000. Morgan Real Estate, Inc., the brokerage arm of MPG, and Atlantic Retail Properties were the brokers involved in the transaction.
“This is a great area of Coral Springs,” said George Morgan, Jr., Chairman of MPG. “We are glad TD Bank has chosen this location to open a new branch and wish them much success.”
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com.
For over thirty-six years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping center, mixed-use and build-to-suit retail projects for repeat clients, such as Publix, Walgreens, 7-Eleven, and McDonald’s. The company and its affiliates are developing multiple retail, mixed-use, and medical development 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.