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1331 Wilshire Boulevard

Updated Dec 30, 2025

Bryan Palbaum Of Trader Joe's Purchases Retail Space At 1331 Wilshire Boulevard For $22M
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Bryan Palbaum Of Trader Joe's Purchases Retail Space At 1331 Wilshire Boulevard For $22M

1331 Wilshire Boulevard

$22,000,000

$1,236/SF

Building Size

17,800 SF

Asset Type

Retail

Closing

Dec 24, 2025

About this deal

AI

This retail asset, located at 1331 Wilshire Boulevard in Santa Monica, encompasses 1.4 acres and has a total square footage of 17,800. The property was sold for $22 million, translating to approximately $1,236 per square foot. The site previously housed a Rite Aid store and is part of Trader Joe's Southern California expansion.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $22,000,000
  • Address: 1331 Wilshire Boulevard
  • Market: Santa Monica
  • Square Footage: 17,800
  • Price Per Square Foot: $1,236
  • Buyer: Bryan Palbaum
  • Company: Trader Joe's

Trader Joe's acquisition is part of a broader strategy to expand within Southern California, amid growing demand for prime, second-generation retail locations. The deal aligns with ongoing industry trends as Rite Aid undergoes a selloff driven by bankruptcy, impacting the retail landscape in Santa Monica.

On the Map

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$22,000,000

$1,236/SF

Retail

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Players

TJ
Trader JoesBuyer
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Santa Monica Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $1.2K per square foot on a published $22M for 17,800 square feet (2025).

Browse Santa Monica retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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