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

Property Image
SOLD
$22,000,000

California

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Retail17,800 SF
Sold 12/24/2025
the dealdetailscomps
Property Image
SOLD

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

1331 Wilshire Boulevard

See Similar Deals
Retail17,800 SF
Sold 12/24/2025
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,236
Total Square Footage:17,800 SF
Transaction Type:Sale

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.

Players

TJ
Trader Joes
BUYER

Details

SOLD
IMAGE: Bryan Palbaum DATE: 12/24/2025 ADDRESS: 1331 Wilshire Boulevard MARKET: Santa Monica ASSET TYPE: Retail ~ ACRES: 1.4 BUYER: Bryan Palbaum - Trader Joe SALE PRICE: $22,000,000 SF: 17,800 ~ PPSF: $1,236 NOTE: Trader Joe’s bought a former 17,800-square-foot Rite Aid at 1331 Wilshire Blvd. in Santa Monica for $22 million, or about $1,236 per square foot, as part of its Southern California expansion. The deal highlights strong demand for well-located, second-generation drugstore sites amid Rite Aid’s bankruptcy-driven selloff, even as Santa Monica retail vacancies rise and rents soften outside prime corridors.

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