PCM Sells Santa Monica Property For $20.2M

El Segundo-based technology catalog retailer PCM said late last week that it has sold the land to its retail store in Santa Monica to the Regents of the University of California, for $20.2M. According to PCM, the deal includes two parcels of land, including a 32,5000 square foot portion of land and another adjacent 9,750 square foot property. The two properties are currently being used as the retail storefront for MacMall. PCM said it will shut down that retail location as part of the sale. PCM said the closure of the retail location--plus the similar shutdown of three other retail stores--will help it focus on the business-to-business market. PCM has been increasingly shifting its business away from consumers and to the business supply market.