News Summary
El Pollo Loco is moving its headquarters within Costa Mesa after nearly two decades on Harbor Boulevard. The new office, located at The MET, will allow the company to enhance its operations and innovation capabilities. With a focus on modern amenities and a test kitchen, this strategic move reflects the brand’s commitment to growth. Despite a decrease in stock price since the beginning of the year, the relocation aligns with a broader brand refresh and the company’s ongoing expansion efforts in the fast-casual dining sector.
Costa Mesa – El Pollo Loco, the popular fast-casual Mexican restaurant chain, is relocating its headquarters within Costa Mesa after nearly two decades on Harbor Boulevard. The company signed a new seven-year lease in May 2023 at The MET office campus, situated less than four miles from its current location. The new office will be located at 575 Anton Blvd., occupying 20,298 square feet on the 12th floor, and represents a strategic step for the company as it continues to grow and innovate.
The current headquarters, located at 3535 Harbor Blvd., spans 24,890 square feet. Although that lease will not expire until 2026, the decision to move was prompted by the company’s expansion and the necessity for a modern office space that includes a test kitchen dedicated to culinary innovation. The new office space was leased at a rate of $46.20 per square foot, as reported by CoStar data.
The impending move aligns with a broader brand refresh and an updated restaurant design that El Pollo Loco is undertaking. With over 1,400 employees in Orange County, including 175 at its headquarters, the company recognizes that access to industry talent is crucial for its leadership team, which includes Chief Financial Officer Ira Fils, who brings nearly 14 years of experience from Habit Burger & Grill, and Chief Operating Officer Maria Hollandsworth, who has over 20 years of experience with Jack in the Box.
Furthermore, The MET office campus, which includes three buildings, is nearing 80% occupancy. The owner, McCarthy Cook Properties, is planning to invest in numerous amenities and hospitality enhancements, incorporating new restaurants and recreational facilities such as a pickleball club. This initiative aims to provide a dynamic working environment that attracts top talent.
As of now, El Pollo Loco’s stock (Nasdaq: LOCO) is priced at approximately $10.93 per share, reflecting a decrease of 4.2% since the beginning of the year, with a market capitalization of around $328 million. The relocation of the headquarters comes at a time when the company is actively negotiating additional leases, contributing to the approximately 75,000 square feet of office space that has been leased in The MET year-to-date in 2025.
This move follows a trend of other brands seeking to enhance their presence in the area. For instance, California Pizza Kitchen relocated its headquarters to The MET from Los Angeles in 2022, indicating that the office campus is becoming a more favorable destination for well-established companies looking for modern facilities and prime locations.
In summary, El Pollo Loco’s decision to move its headquarters is a significant development within Costa Mesa, emphasizing the company’s ongoing growth and commitment to innovation in the fast-casual dining industry. With a focus on modern office environments and access to talented individuals, the relocation reflects the brand’s strategic direction as it seeks to further enhance its market position.
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Additional Resources
- Orange County Business Journal: El Pollo Loco Relocating HQ Within Costa Mesa
- Wikipedia: El Pollo Loco
- GlobeNewswire: El Pollo Loco’s New Quesadillas
- Google Search: El Pollo Loco
- Restaurant Business Online: CapitalSpring May Get Involved in El Pollo Loco Sale
- Encyclopedia Britannica: Costa Mesa
- Nation’s Restaurant News: El Pollo Loco Navigates a Tough Consumer Environment
- Google Scholar: Fast Casual Restaurants
