The hits just keep on coming at Rockville Town Square. Another major tenant is on the way out. CVS Pharmacy "will be going out of business April 27th 2022," a sign in the elevator reads. The sign is directing customers to the Ritchie Center CVS at 799 Rockville Pike, once the Town Center location has closed. I suspect residents of the Town Center may consider switching to the Walgreens less than a block away.
CVS has been showing an increasing will to close locations in recent years, aiming to trim 900 stores, even as it vies with Starbucks for ubiquity across America. It's certainly possible that property owner Federal Realty could bring in another drugstore tenant to this space, although having that Walgreens really whittles down the options. The real estate firm has been trying to increasingly add resident-focused amenities and services like markets, spas, and home decor retailers to its properties, shops that can provide more practical necessities without requiring a car to go outside the development.
There are a lot of CVS stores,and they seem very expensive. The CVS at the intersection of Viers Mill and Randolph Rd closed last month.
ReplyDeleteCorrect me if I'm wrong, but aren't they building a new CVS in the Kentlands? This seems like deck chair rearranging to me.
ReplyDeleteYeah, but that Kentlands location was in the works before the company changed strategies and decided to close a thousand stores. If they could do it over again, CVS likely wouldn't be opening the Kentlands location at all.
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