Projo Biz Blog

CVS Caremark Corp. recently purchased two buildings near its Woonsocket headquarters to provide more room for its employees.

CVS has been expanding ever since it moved to the Highland Industrial Park, which straddles the Woonsocket-Cumberland border in 1981. Back then, the drugstore chain had about 400 stores. Now it operates more than 6,000 and with last year's takeover of Caremark Rx became one of the nation's 20-largest public companies.

The company in the last month purchased buildings at 100 Scenic View Drive and 400 Scenic View Drive, on the Cumberland side of Highland Park, according to real-estate records and a company spokesman. Together, the two buildings have more than 50,000 square feet of space.

The company paid $4 million for 100 Scenic View, it's unclear how much it paid for 400 Scenic View.

CVS will renovate the buildings and begin moving workers from its main building at One CVS Drive over the course of the summer, according to company spokesman Michael DeAngelis. The purchases do not indicate CVS will be adding to the number of people it empoys at the headquarters, he said.

CVS employs about 2,500 people at its Woonsocket headquarters and nearly 200,000 nationwide.

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