CVS/Pharmacy

CVS/Pharmacy, a prominent division of CVS Health, is one of the largest retail pharmacy chains in the United States. Since its inception in 1963 by founders Stanley P. Goldstein and Ralph Hoagland, the company has evolved from its beginnings as Consumer Value Stores in Lowell, Massachusetts, where it initially focused on health and beauty products. Over the years, CVS/Pharmacy expanded into pharmacy services, establishing a robust presence through strategic acquisitions such as Eckerd, Longs Drugs, and Target’s pharmacy business.

As of November 2025, CVS/Pharmacy operates over 9,000 retail locations across 49 states, the District of Columbia, and Puerto Rico. This extensive network offers prescription medications, over-the-counter products, health and wellness items, and various convenience goods. The company has a particularly strong presence in the Northeast, Midwest, and Southeast regions, with continued expansion efforts in urban and high-growth suburban markets.

In recent years, CVS/Pharmacy has focused on strategic growth, targeting urban infill and suburban redevelopment. The introduction of HealthHUB locations marks a significant milestone in the company's evolution, offering expanded clinical services, wellness products, and personalized care. These new store formats, along with MinuteClinic walk-in medical clinics, reflect the company's commitment to adapting to changing consumer healthcare needs.

CVS/Pharmacy's integration with CVS Health, which also includes Aetna and CVS Caremark, positions it as a key player in both retail and healthcare sectors. With more than 300,000 employees and reported annual revenues of $357.8 billion in 2023, CVS Health demonstrates considerable scale and influence. For commercial real estate professionals, CVS/Pharmacy's extensive footprint, stable corporate backing, and innovative store concepts make it a credible and desirable tenant, especially in high-traffic and community-focused locations. The company remains committed to growth, focusing on strategic infill and urban redevelopment to meet the evolving demands of the market.