Wednesday, May 22, 2013

Will RECon Resuscitate Planned CVS Pharmacy in Sandy Springs

Click to enlarge 
CVS Pharmacy wants to cure what ails you in Sandy Springs

A well placed source tells me that a new shopping center is in the works at the corner of Mt. Paran and Roswell Roads in Sandy Springs.  The center would be anchored by a 14,600 square foot CVS Pharmacy and would also have a number of smaller stores, on two levels.  The ground floor would have roughly 12,000 square feet for "shops" and the second floor would be nearly 27,000 square feet and could include retail and/or office space. 

The nearly five acre site was most recently being marketed by Jones Lang Lasalle as a "great redevelopment site" and would have vehicular access from both Mount Paran and Roswell Roads.  The center would have onsite parking for 188 cars.  Currently, the parcel is home to a number of former residential houses turned commercial buildings.

There is already a freestanding Walgreens about 1.3 miles south of the proposed CVS as well as an existing RiteAid across from the Walgreens.  The Rite Aid is slated to close as part of another project that would be built in place of both its center as well as the neighboring Chastain Square apartments.  The planned center would likely include a grocery tenant but not a pharmacy.  

Apparently the CVS proposal has been cold for nearly nine months now, but with ICSC's RECon underway in Las Vegas, perhaps a deal and financing will finally come together. 

What are your thoughts on this planned shopping center?  Does Sandy Springs need another CVS Pharmacy and likely more traffic on Roswell Road?  If you live in the area, what would you most like to see opened in the neighborhood?

2 comments:

Anonymous said...

Terribly suburban site plan. Can't they do more to make it pedestrian in scale? I hate auto-centric development.

Anonymous said...

Then start your own real estate company.