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LAS VEGAS (AP) — The Las Vegas Strip is getting yet another drugstore, as workers are building a CVS on a half-acre site next to the Grand Bazaar Shops.
Vegas Inc. reports (http://bit.ly/1RJBjD2 ) that the store is scheduled to open in May and is the latest Walgreens or CVS to open in the tourist-packed corridor.
CVS now has four locations in the area and Walgreens has five stores, with a new location opening just last year.
The pharmacies pay high rents for their prime locations, with an annual rent of about $125 per square foot. Real estate broker Ray Germain says they pay about $2 million per year.
For their prime locations, Germain says the drugstores bring in between $10 million and $50 million in annual sales.
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Information from: Las Vegas Sun, http://www.lasvegassun.com
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