CVS Will Continue To Expand In Colorado

December 08, 2016

CVS Will Continue To Expand In Colorado

CVS Health has big plans for the 2017 year, a continuation of 2016 with the buyout of Colorado's Target in-store pharmacies. According to CVS Health spokeswoman Stephanie Cunha, the company will open its first standalone pharmacy in Denver.

No more details have been released, but CVS has accepted site development plans for the 1.1- acre property in the West Highland neighborhood in Denver. CVS acquired the site from CorePower Yoga founder Trevor Tice in June for $4 million. Tommy's Slalom Shop was previously located here.

Although construction fences were erected around the property, a spokeswoman for the city said a demolition permit has yet to be issued for the structure already standing there. According to the plans, there will be a new 14,700-square- foot building and 65 parking spaces. CVS bought several office buildings in south Denver for $6.28 million in 2015.

CVS Pharmacy first opened in Colorado Target stores in early 2016. In December 2015, the company acquired all of Target's pharmacies and retail clinics, which included the 39 in the state. CVS has over 9,600 locations around the nation.

CVS's rival Walgreens has close to 160 locations in Colorado. Its merger with Rite Aid, which is going to run $9.4 billion will add even more locations in the state including 11 in the metro Denver area.