Impending Walgreens Exit Leaves Opening for New Pharmacy at Old Lyme Marketplace

OLD LYME – Walgreens Pharmacy has announced it will permanently close its Old Lyme location on Jan. 27, according to a notice posted on its website.

The pharmacy is part of the 102,500-square-foot Old Lyme Marketplace plaza on 90 Halls Road that was sold earlier this month to Zelco Properties & Development, Grossman Development Group, and The McDevitt Company. 

Asher Zelson, of Westport-based Charter Realty and Zelco Properties & Development, said the group is actively seeking tenants “across the board” that will benefit the town and broader area. 

“We are targeting other pharmacy users to fill the void that will be left behind after Walgreens will leave,” he said. “We know there is a need for this service in the community.” 

Property information from Charter Realty shows the plaza is 89% occupied currently. Vacancies include the first floor of the former Bank of America branch. 

The new owners in a purchase announcement last week described the property as a “compelling opportunity for revitalization.”

Zelson said he expects to have drawings of planned improvements to share after the holidays. There is no timeline yet for the renovations. 

Walgreens’ corporate office did not respond to an emailed request for comment.

Zelco Properties and Development owns numerous properties in the Northeast, North Carolina, South Carolina and Montana. Zelson said the closest property is Guilford Plaza, which is anchored by Fresh Market, TJ Maxx, Ulta, Old Navy and Petco.