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. 

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