Walgreens closes Short Pump store

Walgreens closed its store at 11500 W. Broad St., which had operated for more than a decade. (Jack Jacobs photo)

A pharmacy chain has retreated from a major intersection in Short Pump after nearly 12 years.

Walgreens closed its location at 11500 W. Broad St. last week, according to a company spokeswoman.

The company said the underperforming Short Pump store was closed in response to pressures stemming from regulations and drug reimbursement costs, and comes as part of a plan announced in October to shut down 1,200 stores over three years.

“Our retail pharmacy business is central to our go-forward business strategy. However, increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs,” Walgreens said in a prepared statement. “It is never an easy decision to close a store. We know that our stores are important to the communities that we serve, and therefore do everything possible to improve the store performance.”

The 12,000-square-foot retail building opened on West Broad Street at Pouncey Tract Road in June 2013. The storefront and its 1.6-acre parcel are owned by the pharmacy chain, online land records show.

The company said prescriptions on file at the Short Pump location were moved to the Walgreens about 3 miles south, at 10720 Ridgefield Parkway. The chain has nearly 30 stores in the Richmond area, according to its website.

The shuttering of the Short Pump store came as the publicly traded pharmacy chain was in discussions to be taken private by Sycamore Partners. The retailer announced it had finalized a deal with the private equity firm Thursday.

Walgreens isn’t the only pharmacy chain to trim its local store count recently. Rite Aid closed a store at the corner of Hull Street and Cowardin Avenue in June.

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