diff --git a/pxr/pxrConfig.cmake.in b/pxr/pxrConfig.cmake.in
index c216f6ebe5..91c2b1ca8e 100644
--- a/pxr/pxrConfig.cmake.in
+++ b/pxr/pxrConfig.cmake.in
@@ -23,30 +23,42 @@ set(PXR_VERSION "@PXR_VERSION@")
 # running cmake.
 if(@PXR_ENABLE_PYTHON_SUPPORT@)
     if(@PXR_USE_PYTHON_3@)
-        if (NOT DEFINED Python3_EXECUTABLE AND "@Python3_EXECUTABLE@")
-            set(Python3_EXECUTABLE "@Python3_EXECUTABLE@")
+        if (NOT DEFINED Python3_EXECUTABLE)
+            if (NOT [[@Python3_EXECUTABLE@]] STREQUAL "")
+                set(Python3_EXECUTABLE [[@Python3_EXECUTABLE@]])
+            endif()
         endif()
 
-        if (NOT DEFINED Python3_LIBRARY AND "@Python3_LIBRARY@")
-            set(Python3_LIBRARY "@Python3_LIBRARY@")
+        if (NOT DEFINED Python3_LIBRARY)
+            if (NOT [[@Python3_LIBRARY@]] STREQUAL "")
+                set(Python3_LIBRARY [[@Python3_LIBRARY@]])
+            endif()
         endif()
 
-        if (NOT DEFINED Python3_INCLUDE_DIR AND "@Python3_INCLUDE_DIR@")
-            set(Python3_INCLUDE_DIR "@Python3_INCLUDE_DIR@")
+        if (NOT DEFINED Python3_INCLUDE_DIR)
+            if (NOT [[@Python3_INCLUDE_DIR@]] STREQUAL "")
+                set(Python3_INCLUDE_DIR [[@Python3_INCLUDE_DIR@]])
+            endif()
         endif()
 
         find_package(Python3 COMPONENTS Development REQUIRED)
     else()
-        if (NOT DEFINED Python2_EXECUTABLE AND "@Python2_EXECUTABLE@")
-            set(Python2_EXECUTABLE "@Python2_EXECUTABLE@")
+        if (NOT DEFINED Python2_EXECUTABLE)
+            if (NOT [[@Python2_EXECUTABLE@]] STREQUAL "")
+                set(Python2_EXECUTABLE [[@Python2_EXECUTABLE@]])
+            endif()
         endif()
 
-        if (NOT DEFINED Python2_LIBRARY AND "@Python2_LIBRARY@")
-            set(Python2_LIBRARY "@Python2_LIBRARY@")
+        if (NOT DEFINED Python2_LIBRARY)
+            if (NOT [[@Python2_LIBRARY@]] STREQUAL "")
+                set(Python2_LIBRARY [[@Python2_LIBRARY@]])
+            endif()
         endif()
 
-        if (NOT DEFINED Python2_INCLUDE_DIR AND "@Python2_INCLUDE_DIR@")
-            set(Python2_INCLUDE_DIR "@Python2_INCLUDE_DIR@")
+        if (NOT DEFINED Python2_INCLUDE_DIR)
+            if (NOT [[@Python2_INCLUDE_DIR@]] STREQUAL "")
+                set(Python2_INCLUDE_DIR [[@Python2_INCLUDE_DIR@]])
+            endif()
         endif()
 
         find_package(Python2 COMPONENTS Development REQUIRED)
@@ -60,7 +72,9 @@ endif()
 # specifying a different MaterialX_DIR when running cmake.
 if(@PXR_ENABLE_MATERIALX_SUPPORT@)
     if (NOT DEFINED MaterialX_DIR)
-        set(MaterialX_DIR "@MaterialX_DIR@")
+        if (NOT [[@MaterialX_DIR@]] STREQUAL "")
+            set(MaterialX_DIR [[@MaterialX_DIR@]])
+        endif()
     endif()
     find_package(MaterialX REQUIRED)
 endif()
@@ -72,7 +86,9 @@ endif()
 # used instead of OpenExr (refer Packages.cmake)
 if(@Imath_FOUND@)
     if (NOT DEFINED Imath_DIR)
-        set(Imath_DIR "@Imath_DIR@")
+        if (NOT [[@Imath_DIR@]] STREQUAL "")
+            set(Imath_DIR [[@Imath_DIR@]])
+        endif()
     endif()
     find_package(Imath REQUIRED)
 endif()