Walgreens Pharmacy, the nation’s largest pharmacy chain with nearly 20 percent of the market, may soon be coming to Daniel Island, based on steps being taken by the Illinois-based corporation late last month. The timing remains uncertain, with one corporate official stating point blank that "no land has been purchased or lease secured." But Walgreens has "probably spent tens of thousands of dollars so far," according to City of Charleston officials, vetting a site on River Landing Drive where they would house a 14,500 square foot pharmacy. The site plans were drawn up by HLA Inc., a local engineering firm that was granted a "courtesy review" by the City of Charleston’s Technical Review Committee on Aug. 19, a sign to many that Walgreens is well along in its plans.
How soon could it happen? A City of Charleston official estimated that, if all approvals went smoothly, the chain could be up and running next year. "They could start construction by the end of the year," and it "wouldn’t take more than 5-6 months to get it done" because Walgreens, typically, has a standard footprint, with little customization. But a corporate Walgreens official declined to comment on the corporate strategy, saying only that current plans are to expand nationally by 2-3 percent a year, far slower than the 9 percent annual growth rate in recent years. All told, Walgreens runs over 7,500 pharmacies and has locations in each of the 50 states.
Whatever the timetable, Walgreens seems to believe that it’s found the right prescription here on Daniel Island.
Willis High, owner of Delta Pharmacy here on the island, sees Walgreens’ interest as a positive sign, explaining, "I don’t think they miss a whole lot . . . so it’s obvious that they think there’s enough current demand . . . or that there’s going to be that kind of demand. Either way, it’s a good sign."
High welcomes the competition, explaining, "Competition is good, it makes everybody get back to basics, and sharpen their pencils." High pointed out that, of the five stores that he owns, his Daniel Island store is the only one that doesn’t have any competition. "At our downtown location, there’s a CVS and a Rite-Aid" nearby and at his Moncks Corner location (their original pharmacy) there are eight or nine competitors, "but we sell more than any of them."
Concluded High, "If there’s room for them on this island, there’s certainly room for us."
The site being vetted is a 1.7 acre parcel on River Landing Drive, owned by SunTrust. The site is located behind the BB&T building, on the opposite side of the street from Hammett’s Landing, just before the woods begin. Another way to look at it: say you’re heading East on I-526 and take Exit 24 onto the Island. As you breeze past the stunning line of trees, the site is on your right, just after you pass Island Park Drive (and before the light at Seven Farms Drive).
Some vitals on Walgreens: in their 2010 third quarter report, issued June 22, the company reported that sales rose 6.1 percent to a record $17.2 billion and that the company filled a record 198 million prescriptions in the quarter. Their retail pharmacy market share increased to 19.7 percent. Earlier this year, Walgreens acquired the New York based drug chain Duane Reade for over $1 billion.
What have YOU heard on the island? Send an email (steve@thedanielislandnews.com), and we’ll check it out.