USA: PacSun Selects Anaheim Site For New Office
Pacific Sunwear of California Inc (Nasdaq:PSUN) Monday announced it has purchased an undeveloped 19 acre parcel of land located in Anaheim, subject to final approvals and finalizing certain side agreements. The purchase price of the land is $12.1m and escrow is expected to close in December 2000. The property is being purchased from Boeing North American Fitness Inc. The new office and distribution centre are expected to be ready for occupancy in December 2001 and are necessary to support the company's future growth plans. The 180,000 sq ft, three story office structure will be three times the size of the company's current corporate offices, which houses approximately 225 associates. The 300,000 sq ft distribution center would be twice as large as the company's current facility and would have the capacity to service 1,200 stores. "We are pleased to be staying in the city of Anaheim. This parcel provides a solution to our long-term growth plans and is located within three miles of our current headquarters," said Greg Weaver, chairman and CEO. Pacific Sunwear is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. The company currently operates 450 PacSun stores, 41 PacSun outlet stores and 68 d.e.m.o. stores for a total of 559 stores in 48 states and Puerto Rico. PacSun's Web site address is
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