DJM Realty to head PacSun demo disposition

MELVILLE, N.Y. Pacific Sunwear of California as selected DJM Realty as the exclusively manager of its national disposition of all 173 demo store leases.

As of Jan. 2, Pacific Sunwear 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.

Pacific Sunwear said it decided to close the remaining 154 demo stores following 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 ceo of Pacific Sunwear.

According to Peter Lynch, principal of DJM Realty the properties range from 1,800 to 4,100 square feet and operate in 34 states.