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ANAHEIM, CA-Clothing retailer Pacific Sunwear has sold its 300,000-square-foot warehouse here to Panattoni Development Co. of Sacramento for $24.5 million as PacSun consolidates its distribution operations in Kansas. The closing of the deal, which PacSun reported in a public filing in December, had been in the works for some time after the clothing retailer decided last year that it would consolidate all of its distribution facilities in a 400,000-square-foot warehouse in Olathe, KS that opened in 2007. The Anaheim building was constructed in 2002.

Pacific Sunwear expects to record an after-tax gain on the sale of approximately $6 million in its results for the fourth quarter of fiscal 2008 as a result of the sale. The listing brokers representing PacSun were Ian Britton and Brad Bierbaum of the Anaheim office of CB Richard Ellis, who also have the leasing assignment for the property under the new ownership.

The Anaheim distribution center, at 3454 E Miraloma Ave., is next to the Pacific Sunwear headquarters at 3450 East Miraloma Ave. The closing of the Anaheim warehouse last year and the consolidation into the one warehouse in Kansas followed a downsizing of Pacific Sunwear, which was growing by 100 or more new store openings before 2007.

Since then, PacSun has slowed new store openings dramatically and closed a large number of its outlets, including all of the stores in a chain known as Demo. It opened only 18 stores in 2007, and plans for 20 new stores in 2008 along with up to 40 closings, although year-end results have not yet been reported. As of Nov. 29, the chain operated 816 PacSun stores and 126 PacSun Outlet stores for a total of 942 locations in 50 states and Puerto Rico.

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