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Morgan Property Group buys two Va. stores

CHARLOTTE – Morgan Property Group LLC has announced the acquisition of two properties for the development of new freestanding 7-Eleven stores, in Virginia Beach and Richmond, Va. Once completed, MPG will have developed seven 7-Eleven properties in the Commonwealth of Virginia in the last two years.

The Virginia Beach and Richmond locations were acquired by MPG through its affiliates from Doswell Ventures LLC for about $1 million each, according to the announcement.  Construction will start later this year and the store openings are planned for the first half of 2014.

Charlotte-based Morgan Property Group has been in the commercial real estate development and brokerage business for 36 years, and focuses on neighborhood shopping center and single-tenant retail projects.

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