The closed CVS Pharmacy in Arlington near Jacksonville University is targeted for conversion into Dollar Tree.
Law firm Lewis Longman Walker filed an application with the Jacksonville Planning and Development Department seeking a minor modification to a Planned Unit Development to allow for the change.
The modification would change the use of the site from a drug store to permitted retail uses in the Neighborhood Commercial land use category.
The site is at 5634 Merrill Road at southeast University Boulevard.
“This minor modification is necessary because the CVS Drug Store terminated its lease with the land owner and the land owner would like to lease the existing building to Dollar Tree,” says the application explanation.
Owner TRSTE III Kannapolis LLC of Charlotte, North Carolina, bought the 1.78-acre site in January 2021 for $1.375 million.
The 12,937-square-foot CVS was built in 2002.
The property ownership is affiliated with R.J.S. Properties Inc., a private, family-owned real estate investment company that says it buys and adds value to commercial real estate throughout the U.S., but mainly in the Southeast and the Carolinas. It also does business as RJS Properties.
The Jacksonville University Drug Store PUD dated Nov. 2, 2001, said the roughly 1.4-acre site would be developed as an 11,000-square-foot drug store with a drive-thru window. A size deviation was allowable.
A PUD allows uses, regulations and standards tailored to a property.
Dollar Tree Inc., headquartered in Chesapeake, Virginia, sells housewares, party goods, beauty products, food items, seasonal decorations, tools, office supplies, greeting cards and other items.
CEO Mike Creedon said Dec. 3, 2025, in the third-quarter earnings report of the publicly traded company, that 85% of its assortment items is priced are $2 or less.
Among the dozens of Dollar Tree stores in Northeast Florida, the three nearest the CVS site are 4 miles north at 5799 Fort Caroline Road, 7 miles east at 8011 Merrill Road and 8 miles south at 1631 University Blvd. S.