Taco Bell Renews Lease for Corporate Headquarters in Southern California Through 2030
IRVINE, CALIF. — Taco Bell Corp. has renewed its corporate headquarters lease in Irvine through 2030. The five-story, 180,000-square-foot office building is located at 1 Glen Bell Way, about 42 miles south of Los Angeles.
The facility houses 800 corporate and contracted employees, is LEED certified and offers amenities such as on-site child care, a dining center, salon, gym, game room, dry cleaning services and a car washing services.
The Irvine property serves as one of three restaurant support centers for the Yum! Brands Inc, the parent company of Taco Bell. Specifically, the support center includes a test kitchen for new Taco Bell food innovations.
Cushman & Wakefield’s Irvine office arranged the lease between Taco Bell and landlord LBA Realty.
Glen Bell founded Taco Bell in 1962. The restaurant chain has been headquartered in Southern California since then, including 40 years in Irvine. Taco Bell has occupied its current headquarters since 2010.
“As a brand with Southern California in our DNA, we’re excited to remain in Irvine and continue to grow where we have deep roots,” said Frank Tucker, chief people officer of Taco Bell Corp. “The unrivaled talent and culture at our Restaurant Support Center make this a great place to work and will take Taco Bell to new heights right where we started.”
The lease extension also means Taco Bell will move forward with its plan to save the original Taco Bell, dubbed “Numero Uno.” In 2015, Numero Uno was set to be demolished when Taco Bell transported the building 45 miles to 1 Glen Bell Way. Further details on the project will be released at a later date.
Taco Bell operates more than 7,000 restaurants in 28 countries, generating $10 billion in sales globally. The company plans to create 100,000 new jobs in the United States by 2022.
LBA Realty is a privately owned, full-service real estate investment and management company that owns and operates more than 13 million square feet of office space in the western United States.
The stock price of Yum! Brands Inc. (NYSE: YUM), headquartered in Louisville, Ky., closed at $94.13 per share Friday, up from $79.80 per share Feb. 5, 2018.
— Alex Tostado