Pei Wei Asian Diner Inc., a chain with more than 200 U.S. eateries in 21 states, has 28 locations in North Texas. That makes Dallas-Fort Worth the company’s most-concentrated market—and couldn’t have hurt when the fast-casual restaurant company made the decision to move its corporate headquarters from Scottsdale, Ariz., to Irving.
A package of state and local incentives—up to $500,000 from the Texas Enterprise Fund and as much as $75,000 from the city of Irving—helped too, the company’s CEO confirmed Wednesday, when the move was announced. Pei Wei, a subsidiary of Scottsdale-based P.F. Chang’s China Bistro Inc., said it would take 14,000 square feet of space in Irving’s Las Colinas Highlands office tower.
“Scottsdale is an extraordinary city that has been our hometown since the brand’s inception in 2000,” John “J.” Hedrick, Pei Wei’s chief executive, said in a statement. “But our new leadership team felt that the timing was right to make this move, as we chart a new direction for the brand, its operations, and our corporate culture.”
Pei Wei, founded in 2000, offers a menu of freshly prepared Pan Asian cuisine. According to a press release, the company is “in the process of separating both geographically and physically” from P.F. Chang’s. P.F. Chang’s was acquired in 2012 for $1.1 billion by Centerbridge Partners, a New York private equity firm. Pei Wei has more than 6,000 employees—including 2,500 employees, and 65 locations, in Texas.
Hedrick and his executive team will move to temporary office space by early next month. Hiring for at least 30 positions at the headquarters will begin shortly, and should be completed by 2018. The total number of employees there is expected to reach 100 within five years.
Las Colinas Highlands is a seven-story, 200,000-square-foot building along the access road for N. State Highway 161 in Las Colinas. According to the web site for the Cawley Partners project, rents in the Class A building range from $24.50 to $26.50 per square foot.
Hedrick joined Pei Wei in January, replacing Ralph Bower, who’d been the company’s chief executive since 2014. Hedrick most recently had been COO at NPC International, a franchise restaurant operator for Pizza Hut and Wendy’s with annual revenue of $1.2 billion. Before that he held positions with 7-Eleven, Pilot Flying J, and RaceTrac Petroleum.
