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DJM Realty for Pacific Sunwear 173 Demo Chain
12 Jan '08
2 min read
DJM Realty, the leading provider of strategic real estate solutions specializing in dispositions, capital solutions, acquisitions and valuations has been selected by Pacific Sunwear of California Inc to exclusively manage the national disposition of all 173 retail store leases.
Pacific Sunwear is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and adults.
As of January 2, 2008, the company operated 841 PacSun stores, 120 PacSun Outlet stores, 154 demo stores and 6 One Thousand steps stores for a total of 1,212 in 50 states and Puerto Rico. 19 of the stores being marketed by DJM Realty had been previously unresolved lease terminations.
The decision to close all remaining 154 demo stores followed a review of strategic alternatives. "We strongly believe that the best course for enhancing shareholder value is to focus our attention and resources on the PacSun business.
We have retained industry leader DJM Realty to dispose of the remaining stores and trust that through our partnership we will accomplish maximum real estate returns," said Sally Frame Kasaks, Chairman and Chief Executive Officer of Pacific Sunwear.
"What we are finding with our retail clients is that there seems to be high demand for stores in premier mall locations. The demo stores are one of those chains that will generate much retailer interest," said Andy Graiser, Co-President of DJM Realty.
Pacific Sunwear is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and adults.
As of January 2, 2008, the company operated 841 PacSun stores, 120 PacSun Outlet stores, 154 demo stores and 6 One Thousand steps stores for a total of 1,212 in 50 states and Puerto Rico. 19 of the stores being marketed by DJM Realty had been previously unresolved lease terminations.
The decision to close all remaining 154 demo stores followed a review of strategic alternatives. "We strongly believe that the best course for enhancing shareholder value is to focus our attention and resources on the PacSun business.
We have retained industry leader DJM Realty to dispose of the remaining stores and trust that through our partnership we will accomplish maximum real estate returns," said Sally Frame Kasaks, Chairman and Chief Executive Officer of Pacific Sunwear.
"What we are finding with our retail clients is that there seems to be high demand for stores in premier mall locations. The demo stores are one of those chains that will generate much retailer interest," said Andy Graiser, Co-President of DJM Realty.
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