A CVS Pharmacy location in downtown Chapel Hill is closing its doors in the coming weeks.

The national retail company and drugstore is sharing alerts with customers using the pharmacy at 137 East Franklin Street, saying it will officially close for business on Thursday, June 16.

CVS Pharmacy occupies the first floor of the 137 East Franklin building, which has gone under significant maintenance and redevelopment since being acquired by Grubb Properties in 2019. At the time, Triangle Business Journal reported the sale of the site was for $23.5 million.

The developer also owns the conjoined 136 East Rosemary Street property, as well as having recently swapped land with the Town of Chapel Hill to acquire 150 East Rosemary Street. The ongoing redevelopment of the downtown stretch is with the goal of creating an “innovation district” for new, local businesses and partnerships.

A Grubb Properties spokesperson confirmed to Chapelboro that CVS is closing the pharmacy location, but that the development company does not currently have plans for that space in the building.

Just a few floors up, however, there is a different story. In the fall, Grubb Properties and UNC announced that BioLabs was the first company to sign a lease in the newly renovated space. The company will use the entire third floor of 137 East Franklin and 136 East Rosemary for “fully-equipped lab and co-working space” to attract life science startups and research projects.

CVS is encouraging customers who fill prescriptions at the East Franklin Street pharmacy to use its store locator to search for other nearby options.

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