|Aerial photo from LoopNet property listing|
Sandy Springs location closed as part of overall store reduction
Deerfield, Illinois-based Walgreens Boots Alliance has closed its freestanding Walgreens location on Roswell Road in Sandy Springs. The drugstore, adjacent to Marshalls Plaza (where Marshalls is no longer a tenant), was located at the corner of Roswell Road and Vernon Woods Drive since opening in 2009. There is another freestanding Walgreens about 2.5 miles north on Roswell Road as well as two others a few miles south on Roswell, in Buckhead.
I called the phone number of the Walgreens and reached a recording indicating that prescriptions have been transferred to the Publix at Abernathy Square. According to a Walgreens spokesperson, the store closed as of July 29th.
A drive by the business yesterday showed that although the store is closed, they are still selling store fixtures.
A freestanding CVS Pharmacy remains open across the street.
The 13,650 square foot building is equipped with a drive-thru lane and sits on 1.89 acres. According to a sales flyer from LoopNet, the property is being offered for sale for $2.85 million.
The store closure is part of Walgreens' previously announced plan to close 200 stores in an effort to save $1.5 billion in expenses over the next three years. Walgreens operates over 8,000 stores in the U.S., Puerto Rico and the U.S. Virgin Islands. Walgreens has realized that in some markets they overbuilt, and the reductions are an effort to eliminate underperorming stores while driving traffic, and hopefully profitability, to stronger locations.
Freestanding buildings such as this Walgreens are popular with other retailers who are able to repurpose the building. Among those I've most frequently seen occupy former drugstores are Dollar General, Family Dollar, AutoZone and Advance Auto Parts.
Aside from Walgreens, Atlanta is littered with former Revco, Eckerd and CVS Pharmacy locations converted into other businesses.
Walgreens does have two other metro area locations in the works. One, a repurposed building downtown, the Olympia Building ,and another, a multi purpose, two story building that will house the pharmacy on the lower level on Peachtree Road in Brookhaven.
Are you surprised that this Walgreens locations was "underperforming?" What would you like to see open in place of the Walgreens in Sandy Springs? Are you excited for the downtown and Brookhaven store openings?
Please share your thoughts below.