So it’s official! A brand new CVS Pharmacy is coming downtown soon. Slated for a late 2014 opening, the new CVS will be taking over a
15,000 13,800 square foot corner space on the ground floor of the beautiful historic Van Nuys building on the SW corner of 7th/Spring. According to the listing agent Derrick Moore, a commercial broker with Avison Young who represented the building owner, the lease was just fully executed and finalized. Initial demolition work has already begun inside the space clearing the way for CVS to begin construction once plans and permits are approved by the city.
The new Downtown LA store will be different from many of its suburban counterparts as it will have an “urban cluster” concept that CVS rolled out in 2010 (i.e., Union Square, New York being one of the first). The urban format will have a “significant focus on consumables” with an expansive Grab & Go prepared foods section with sandwiches, salads, fresh fruits, as well as a large cooler section with deli meats, cheese, frozen foods, yogurt, soda, etc.
“Our research showed that our customers who live and work in our urban markets shop CVS more as a general store, so we are adapting our product mix and store layout to better address their needs,” says CVS spokesman Michael DeAngelis.
At #13 on the Fortune 500 list, CVS Pharmacy is the largest drug store chain in the country with over 7,100 locations including Longs Drugs Store, both chains owned by CVS Caremark Corporation based in Rhode Island.
It’s not exactly “sexy,” but I am still very excited about CVS opening downtown because as another new-to-downtown drug store brand it provides yet another option for downtown residents in addition to Walgreens and Rite Aid (read: choices). These are the very basic amenities that all established communities have like Santa Monica, West Hollywood, or Pasadena. Downtown LA should be no different in that regard. Creating a truly well-rounded livable community is hardly just about bars and restaurants. It’s having everything and having choices.
On a side note, there is technically a small CVS at the hideous LA Mall in the Civic Center, but this new one located on the dense residential corridor of Spring Street will be the first one actually relevant to many residents living downtown.
Check out some pictures of what the new urban concept looks like.