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BELMONT, MA-CVS Corp. has signed a 20-year lease as an anchor tenant for a pharmacy at the former Volkswagen dealership site on Trapelo Road. The 2.3-acre property has been vacant for the past four years and is being developed by the Sydney Companies for K&R Realty Trust into a one-story retail center.

CVS, the first signed tenant for the project, is leasing 14,195 sf at the location. The project involves a 20,000-sf retail center which is expected to be completed in early 2004. The center will have 138 parking spaces.

Roberta Sydney, president of the Sydney Cos., the development consultant for the site and the owner, the Kendall family, emphasizes that the design of the center “incorporates and respects the historic look of the retail that is very typical of Belmont and Trapelo Road.”

The project’s architect is HDS Architecture, Inc., a Boston-based diversified architectural firm, and the general contractor is Columbia Construction.

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