CVS at Foxbank Towne Center

Date: 04/15/2009

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Moncks Corner, SC –Foxbank Commercial Development, LLC has sold a 1.75 acre outparcel at Foxbank Towne Center to Adwil Venture I, LLC for the development of a CVS/pharmacy store. The outparcel is located in the Town of Moncks Corner, SC at the northwest corner of  SC Highway 52 and Foxbank Plantation Boulevard in Foxbank Plantation, a community which will include Foxbank Towne Center, approximately 2,400 Homes and a new elementary school.  The new store is scheduled to be completed and open in 2010. Foxbank Commercial Development, LLC is an affiliate of Twin Rivers Capital, LLC. Twin Rivers Capital, LLC is a real estate investment and development firm specializing in the development of retail space for national and regional retailers and has developed stores for Family Dollar, Inc., as well as AutoZone Inc., and other shopping and retail centers throughout the Southeast.

Woonsocket, R.I. based CVS Caremark plans to begin construction of the CVS at Foxbank Towne Center this year. More than 4,200 CVS Caremark employees live and work in South Carolina. The CVS drugstore at Foxbank Towne Center will employ 20 to 25 people.

Foxbank Towne Center’s CVS, once constructed, will be approximately 12,000-square-feet and will have a full-service pharmacy with drive-up prescription window service, along with the standard retail format of over-the-counter health products, beauty supplies, one hour photo processing, general merchandise, greeting cards and convenience foods.

Founded in 1963 in Massachusetts, CVS -- the name stands for "Consumer Value Store" -- has grown steadily over the years, primarily through mergers and acquisitions. One of the biggest was the 2007 merger of CVS with Caremark Rx, Inc., a Nashville, Tennessee - based manager of pharmacy benefits. Despite the economic slowdown, CVS expects to add 250-300 new locations nationwide in 2009 to its existing 6,300-plus drug stores. South Carolina is an expansion area for the company.

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