There weren't any pandas in it last time I looked a few weeks back. It's in the old Bear Canyon down the bottom of the zoo, on the road leading to the lower entrance, below the Binturongs, Gibbons and Otters.
Ahh - where the Sunbears used to be? I quite liked that exhibit when the Sunbears were in it - you got a much better view of them than where they are now.
From memory, the Red Pandas used to be just above that point (around the corner on the next level up) - with a huge old tree in their exhibit which they loved to climb right to the top of such that you could never see them from the ground!