Matthews™ Executes $12.6M Off-Market Disposition of Trader Joe’s Anchored Shopping Center in Santa Monica

LOS ANGELES, CA—Matthews™, a commercial real estate investment services and technology firm, represented the seller and directly sourced the buyer in the disposition of Pico Shopping Center, located at 3202-3250 Pico Blvd in Santa Monica, California. Matthews™ Associate Christine Baker facilitated the $12,600,000 transaction.

Pico Shopping Center sits along Pico Boulevard, in one of the most desirable infill retail markets in Los Angeles. The asset totals 17,702 square feet and is anchored by Trader Joe’s, a nationally recognized grocery retailer. It also features a neighboring multi-tenant building occupied by Rejuice, a specialty juice retailer, My Pet Naturally, a holistic pet supplier, and The Pilates Cave, a boutique fitness studio.

The seller, a private family-ownership group that had held the property for decades, elected to monetize the asset amid strong market conditions, allowing them to capitalize on favorable pricing and step back from ongoing leasing and management responsibilities. Matthews™ directly sourced the buyer, Paragon Commercial Group, through its deep relationships within the Los Angeles retail market, executing a strategic off-market transaction at a low 4% cap rate that aligned both the seller’s exit objectives and the buyer’s value-add investment strategy.

“Properties like Pico Shopping Center are difficult to replicate in today’s market,” Baker said. “The asset’s location, fundamentals, and future upside made it a compelling opportunity for the buyer to capitalize on the asset’s long-term upside.”

For more information, please contact Christine Baker or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.