US Drugstores and Pharmacies: Real Estate Insights—Closures Lead to 8 Million Square Feet of Shuttered Retail Space in 2024

What's Inside

Major drugstore chains play a significant role in the US real estate market, shaping commercial properties across the country. The strategic locations chosen by these establishments not only influence property values and real estate market trends, but also cater to the healthcare needs of their local communities.

We explore the real estate impact of drugstores’ and pharmacies’ evolving business models. We also dive into ongoing store closures in the sector, store traffic at major drugstore chains, and how drugstores and pharmacies are combating retail theft.

Data in this research report include:

• US drugstores and pharmacies’ total sales and YoY% change, 2018–2027E
• Total US retail space and estimated net-selling space for major US drugstore retailers
• Announced store closures and openings for major US drugstore companies, 2020–2023 YTD
• Store traffic data for major US drugstore retailers, January 2023–March 2024

Companies mentioned in this research report include: Albertsons, Amazon, CVS Health, Hy-Vee, Kroger, Rite Aid, Target, Walgreens Boots Alliance, Walmart

Other relevant research:

• Market Navigator: US Drugstore and Pharmacy Retailers—A Strong Focus on Healthcare Expansion in 2024 and Beyond
• US Drugstores—Retail 2024 Sector Outlook: Mid-Single-Digit Sales Growth; Stronger Focus on Healthcare Expansion
• Five Ways AI Is Being Used in Drugstore Retail
• Head-to-Head in US Drugstore Retailing: CVS Health vs. Walgreens Boots Alliance