Chipotle exec Brian Niccol and the property (Credit: GoodFreePhotos)
Chipotle, the fast-casual Mexican food chain, has signed a deal to occupy two floors at an office building at Newport Center, just steps from Fashion Island, a bustling retail complex in Newport Beach.
The firm will be subleasing from CareerBuilder, which occupies nearly 23,000 square feet at 610 Newport Center Drive, the Orange County Business Journal first reported. The sublease term runs through September 2020, according to marketing materials from JLL, the listing brokerage.
In May, the company announced it would be moving its headquarters, as well as roughly 400 employees, from Denver to Orange County. The move is expected to complete by the fourth quarter of 2018.
Chipotle’s new office will be in a 274,000-square-foot office building with 18 floors, and includes a health and fitness center, outdoor common areas and cafes. It’s part of a cluster of office buildings, collectively known as the Newport Center Collection, owned by Irvine Co., one of the largest private landlords in Southern California.
Late last year, Chipotle announced it had signed a 15-year, 152,000-square-foot lease in a new 40-story skyscraper in Denver as it strived to consolidate its two offices in the city. The firm said it will find a sublease or replacement tenant at the office tower, which is owned by Hines.
Brian Niccol, Chipotle’s recently appointed CEO, is a former longtime resident of Orange County. He previously served as CEO at Taco Bell, which is headquartered roughly 10 miles from Newport Beach.
Ryan Hawkins and Scott Wetzel at JLL had the listing for the sublease.
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