Trader Joe’s just made a pricey Santa Monica land play, snapping up a former Rite Aid along Wilshire Boulevard as it continues to expand in Southern California and scoop up drugstore boxes left behind by bankrupt chains. The Monrovia, California–based grocer paid $22 million for the 17,800-square-foot property at 1331 Wilshire Boulevard, or about $1,236 per square foot, according to public records cited by the Los Angeles Times. The site, which sits on roughly 1.4 acres with about 125 surface parking spaces, was sold by a private owner. The deal is another example of the growing reuse of Rite Aid […]
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