SDBJ.COM SANDIEGO BUSINESSJOURNAL Vol 41. No. 30 ------THE COMMUN ITV OF BUS IN ES S"' ------July 27 - August 2. 2020 • $5.00 QDOBA to Open First Restaurant in Hometown EvoNexus DINING: Growing San Diego-Based National Chain Has 730 Locations Debuts 5G Incubator TECH: Qualcomm Backs Program

■ BY BRAD GRAVES

an Diego startup incubator Evo ex­ us launched a program earlier this month to help very young compani develop bu in models around the speedy new fifth-generation wire! data standard known a 5 . Qualcomm lnc. an Diego s largest public company and the inventor of much 5G technology is sponsoring the EvoN­ exu program. inancial detai ls of the arrangement were not disclosed. Photo courtesyof QDOBA Mexican Eats 5G promis to send data between wire­ QDOBA Mexican Eats will open Its first San Diego restaurant this fall. les devic up to 20 tim faster than pre­ Scheduled to debut in the fall, the Mis­ Additionally, the San Diego restaurant, at vious-generation technology exchanging ■ BY MARIEL CONCEPCION sion Valley company-owned locaion will 2,400 square feet and suitablyfor the pan­ + 5Gpage36 includeall of the QDOBA bells and whis­ demic, will featurea walk-up, pick-upwin­ QDOBA Mexican Eats, the San Di­ tles, according to Jill Adams , vice presi­ dow, outdoor dining and a curbsideoption ego-basedfast-casual Mexican food chain dent of marketing, including digital or­ that allows for orders to be dropped off with 730 locations across 47 states and dering and delivery on the QDOBA site with customersat theirparked cars , she said. Housing Market Canada, is finally opening its first home­ and mobile app, third party delivery and + QDOBA page 34 town restaurant. catering for both B2B and B2C channels. Sizzling Hot San Diego Startups Raise Record $1.2 Billion in Q2 REAL ESTATE: Home Selling Fa t After Slow VENTURE CAPITAL: Life Science ategory H Large t Single Quarter in History April and May ■ BY FRED GRIER Diego ' said Gra nt cbon man managing cience than previou years \vitb 93% ■ BY RAY HUARD director at J LL s n Diego office. ' The of funding in life scienc ($875M) and D pite the turmoil of an ongoing pan­ last best quarter in an Diego was Q3 in technology ($244 M . San Diego s housing market is going demic an Diego deal -making and high 2018 when the life sciences sector raised ' In tors are finding a good place to crazy after a slow April and slight! im­ $780 million. This quarter we reached $875 put their mone y said choneman. 'The valuations is con- .....-===----,.....,, proved May. tinuing into 2020. million for the life science ectoc which I common theme we are seeing is a great­ gen report home are selling near! ompanies in an think is only the tip of the iceberg for the er focus on healthcare, diagnosti and a fa t as the can Ii t them with multi­ Diego County raised region . t ting as it relates to VID . ple offers common . $1.2 billion in the ec­ Toward the end of the first quarter and ZiUo, an online listing agency and bro­ ond quarter of 2020 $1.8B Raised into the second quarter of 2020 the pan­ kerage reported that an Diego born according to a July JLL recorded $1.8 billion across all demics impact wa felt across large sec­ on average lasted 12 da. on the market 20 report b JLL . funding stages for the second quarter tions of the globe, ulting in layoff: by in mid-July before a contract to sell v Making it the largest specifically. This i up 42 percent year­ technology startup hifts to remote work signed- 14 days faster than a year ago. over -year and up 88 percent quarter­ eemingly overnight and markets shut­ quarter on record. Grant Schoneman 'The current housing market in San Di­ 'The Life Science over-quarter. ting down . Indu stri hit hard were trav­ ego i a perfect torm for a sizzling hot category had the largest ingle quarter of ompared to la t ear the funding el la t-mile mobility r tau rant events venture capital investing in history in an is more weighted more towards the life +Q 2page34 +Homes page 9

WORK.PLA: : San Diego omen P.6 in STEM ee notable gains 34 SAN DIEGO BUSINESS JOURNAL www.sdbj.com JULY 27, 2020

hi put a ·light damp er on it lo al pop ular pro du ct, th e ril_led _ . Ace rding to a Bloomberg rticlc, Apol­ QDOBA gr wth and cxpan i n plan . But, a oon hi ken 130\ I r Burrit o wllh it ,~na- lo Gl obal Marketing Inc .. the cw York­ • fro 111page 1 ------a that ale , a completed Ma rch of 201 , ture three- he c quc o, and it Imp~ ible ba cd pri ate equity firm~ hich acquired it Adam aid the com pan tarted back up Mea t protein option. ' ith _a propne t_ar from Jac k in the Box, wa e ploring a ale hi i th fif th on it ear h for the p rfc t real c tale for blend of pi c and ca 0111ng, h aid. of th e co mp a ny th at co uld be worth up 2 9 loca tion QD O B , it long-m ailed an Diego debut. nd, tJ,a t " We laun hcd the y tcm Ma of 0I , to 550 million, includ ing debt. It !aimed fo und ed in 1995 led them to Mi ion Valle t re, heduled o over a year ago, and le tcd it prior to A pollo wa nt ed to ell QDOBA after at­ and hcadq ua rt red to open between late Septemb r and earl that," -aid dam about the pla nt-ba -cd tempt to ta ke Chuck E. hecse parent in Mi io n Valle , October. Ju t one mile from the offering. " \i c arc till the larg­ CEC Entertainment Inc. publi ia re er will ope n du ring the orpora te headquarter , e t Me ·ica n fa t-ca u­ merger fell th ro ugh that July. pandemic, ac ording the ne\ location will a l cha in 10 o ffer But Ad am a ure that for no, , QDQ. to dam . In June, it bring Onc, jo b plant-ba ed BA will remain in bu inc with Apollo .. deb uted re ta urant to th e co unt y, and it tight in unn y San Diego. '' We a re curr ently not in th in Ma rietta , Ga ., JIil Adams he aid. Fo rt Wor th Te, a , p roce of th e ale any and Far mingdale, .Y. In Jul , QD OB Test mo re," he aid . " Pri­ op ned an eatery at the elli Air ◄ orce Kitchen vate equit y firm are Ba c in Ne ada. In ad ­ a h ay lookin g for ow, the plan mo ing forward for the ditio n to opportuniti e , but 900 million company - proje tcd to reach er ing the the y decided no,, I billion by the end of 2020 - 1 to con­ Sa n D iego i no t th e right tinue to grO\ it I cal footprint, with fran­ o m m un i- time.'' chi ed ope nin g pla nn ed in Sa n Diego t , Keith Guil­ F or Ad a m down the line. bault, QDOB ' th e deci ion pro 0 , aid the ne, ide a en e of Growth Company lo at ion will erve a a relief, particular! "\Ve are a growt h compan and we are tc t kitchen and training fa­ becau e of the pan ah a look ing for growth opp rtun iti ,'' cilit for the company. demic. aid Ad am . "Fo r San D iego, we are ac­ "We are c ·cited about opening our "T hey 've been great ti ely looki ng right no, for what are tho c fir t r taurant in San D iego," aid Gu il­ QDOBA Mexican pa rtn er ," he aid, "it' be t neighb orh d and be t ite to go bault. " It took u' a lilt) while to find the Eats Mission Valley bee n nice to have th e am into for QDOB . M i ·ion Vall , on't right loca tion a we definitely knc, we will offer a full menu, Including top seller grilled o, nership group a we manag be the only loca tion." wanted it to be ome, hat nea r our of­ adobo chicken bowl and burrito . th ro ugh thi new world ." ■ Since relocating i headqu, rter from fice. ow, not only , ill it crve all of our Den er, olora d , in 2017, after being ac­ u tomer , it will al o be a place to train QDOBAMexicanEats qu ired b an Diego-headquartered Jack orpora te employee , a place to bring in lmp o ible meat. We arc (al o) the larg­ in the Box in 200 fi r $4 - million, the plan per pecti e fra nchi ce· and a place to tc t e t re taurant brand, hich offer it a a FOUNDED:1995 for QDOB ha ah b en to claim a ne\ concep t . H aving it literally on the ground meat op tion vcr u a burger. We CEO:KerthGu ilbault pi ce of an Diego' thriving food cene b ame trect a the office will wor k to our offer it a part of our bur rito and bowl HEADQUARTERS:Mission Valley opening multiple re taurant here. But no advantage.'' and it i our mo t popul ar protein behind BUSINESS:a fast-casual Mexican food restaurant oo ner had it put dO\ n local r ots in an chicken and teak.'' chain. effort to con olidat infra tructure , Jack Robust and Flavorful REVENUE:$900 Million In 2019 in the Bo · d ided to ell it, aid Adam . On the menu ide, the Mis ion Valley For Sale Again? LOCALEMPLOYEES:132 In 20 17, Jack in the Box old QDOI3 QDOB A location will offer the "robu t Ju t a thing were tarting to tabilize, WEBSITE:www.qdobacom to Apollo Global 1anagemcnt for 30 and flavorful' ' menu item it i known late la l year, it wa reported that QDOOA NOTABLE:Opened four restaurants alreadydu ring million. for, aid dam . T hi include it mo t might be up for ale once agai n. pandemic.