In an announcement that is sure to send longtime Castro neighborhood residents into fits of rage, a 10,000-square-foot CVS store occupying some prime retail space on Market Street at Noe has announced it will shut its doors in March after opening in mid-2014. Hoodline brings the news, noting as many others surely will that this space, along with its upstairs, could have been a much-needed Trader Joe's had nearby NIMBYs not killed that plan back in 2011, worried about too much traffic.
Somewhat bizarrely given the neighborhood's formula retail ban, the CVS location at the Market-Noe Center at 2280 Market passed muster with Planning and the neighborhood back in 2013, despite the fact that it is a mere two blocks from two well established Walgreens locations a locational issue that likely spelled doom for the store, which was virtually empty at all hours of every day.
The vacancy in the shopping center comes just as multiple vacancies have opened up all along this stretch of Market Street, likely as landlords are hoping to cash in on rising retail rents citywide and longtime tenants aren't having it. An anonymous source tells Hoodline that CVS signed a 15-year lease on the space, and it was renting for $50,000 a month.
A CVS spokesperson tells the site they "will be marketing the store location to find a sub-tenant," so hopefully this vacancy will not last too long.