Trader Joe’s Expands with New Santa Monica Location Amid Economic Challenges

Santa Monica, California – Trader Joe’s has acquired a former Rite Aid building to establish a fourth location in Santa Monica. The deal, estimated at $22 million, was finalized this month for the site located at 1331 Wilshire Blvd., according to CoStar, a real estate data provider.

The grocery chain, known for its eclectic selection of original products like Mandarin Orange Chicken and Cold Brew Coffee Concentrate, has been expanding rapidly across the United States. Earlier this month, a new store opened in Costa Mesa, following another launch in La Verne in October.

“We see ourselves as your neighborhood grocery store,” Trader Joe’s stated on its website. They emphasize offering unconventional items under the Trader Joe’s label while maintaining affordable prices.

Trader Joe’s currently operates over 600 locations nationwide, with approximately 200 in California. The new Santa Monica store will occupy 17,800 square feet, significantly larger than the nearby 2,130-square-foot location at 2300 Wilshire Blvd.

It’s yet to be determined whether the company will keep both locations running simultaneously, although similar cases exist. In Sherman Oaks, two Trader Joe’s stores are located directly across from each other, a decision made for convenience to customers.

The new location opens as grocery chains contend with increasing inflation, which has led consumers in Southern California to seek budget-friendly shopping options. Trader Joe's, owned by families associated with the Aldi supermarket chain, aims to provide value as supermarket prices rise.

Trader Joe’s began its journey in Pasadena back in 1967, and its brand has become synonymous with quality and unique grocery options.