Schenectady CVS Closes with 7 Years Left on its Lease

Andrew Kelly, Reuters/Canva

So what's next?

A sign on the door of the CVS Pharmacy at 415 State Street in Schenectady tells customers to visit the chain's other location at 1204 Eastern Ave, according to a report by the Daily Gazette on Thursday. 

Schenectady County Metroplex says they would like to get a new tenant in the building as soon as possible. In order to use the space, CVS must approve a sublease but Metroplex says the pharmacy chain has been unresponsive to their requests. Metroplex Chair Ray Gillen said in an email: 

CVS must pay full rent plus taxes and expenses through the end of its lease in 2031.

In a statement to the Daily Gazette, CVS spokesperson Amy Thibault explained the reasoning behind the store's closure:

The store closure decisions — including our decision to close the store at 415 State St. in Schenectady — are based on population shifts, consumer buying patterns, a community’s store density, maintaining access to pharmacy services, and future health needs to ensure we have the right kinds of stores in the right locations for consumer.

Employees of the State Street store will be offered jobs at other locations. Thibault also said they are indeed working on subleasing the space. 

CVS has been closing stores since 2021 as part of a cost-cutting downsizing effort, though Thibault said there are no plans to close any of the other six remaining Schenectady pharmacies. A total of 900 stores have or are expected to close nationwide. 

The location is prime real estate downtown, located next to the YMCA and across the street from Movieland and Proctors. 

Latest Posts

What's Happening

  • Herzog Law Firm

    Listen Saturday mornings from 8am-9am for The Estate and Medicaid Planning Hour with Herzog Law Firm.

  • Your Home Sold Guaranteed Radio

    The Your Home Sold Guaranteed Radio Show where you get advice you can trust from the capital region’s leading experts in real estate and all related fields.

  • Madison Wealth Managers

    Join Madison Wealth Managers for the ‘Planning for Prosperity Show’ Saturday mornings from 10am-11am on Magic 590 & 100.5.

Events

100.5 FM & 590AM
Online
Mobile
Alexa