Another CVS In Downtown Capital Region City Is Closing

At one time it seemed that there was a pharmacy store on every corner. Now many of them have closed and the buildings left vacant. Another CVS store is closing but the hope is there will be something to replace it in this historic building.

CVS is closing its store on Third Street in downtown Troy, leaving a big retail space empty in the historic Frear Building. The store will shut its doors for good on June 26th.

After it closes, all prescriptions will move to the CVS at 461 2nd Ave. in Lansingburgh, about three miles north. Customers can also choose a different pharmacy if that's easier for them. This closure affects many people, from those who don't have cars and rely on this pharmacy to residents of the new apartments downtown.

CVS announced in November 2021 that it planned to close around 900 stores over three years. The company is shifting its focus from retail to healthcare services. This includes closing other stores in Albany on Madison Avenue and Central Avenue.

The Troy store, about 8,000 square feet, is one of the few national chains downtown. According to Albany Business Review, it's in a historic building at 2 Third St. that got a new owner earlier this year.

The store has good street visibility, but its large size will make it tough to fill. They are optimistic about finding tenants for the upstairs offices and hope to get a restaurant or deli for the ground floor. However, the building does have some structural issues, as recent work on its central atrium and skylight shows.