Panda Express

Panda Express is a family-owned restaurant chain specializing in American Chinese cuisine, with a presence that stretches across the United States and into select international markets. The company was founded in 1983 by Andrew and Peggy Cherng in Glendale, California, as an offshoot of their earlier full-service concept, Panda Inn. Panda Express first gained momentum by serving Chinese-American favorites in mall food courts, later branching into supermarkets and, by the late 1990s, opening its initial stand-alone drive-thru location.

As of November 2025, Panda Express operates approximately 2,500 restaurants, making it the largest Asian-inspired quick-service chain in the country and the largest family-owned restaurant group in America. Its footprint includes locations in the United States, Puerto Rico, Guam, Canada, Mexico, Saudi Arabia, and other regions. Unlike many competitors, Panda Express does not franchise its U.S. stores; every location is company-owned, which has contributed to its reputation for operational consistency and brand control.

Over the past five years, the company has accelerated its expansion strategy, focusing on freestanding drive-thru units and non-traditional sites such as airports and universities. This flexible approach allows Panda Express to fit into a variety of retail environments, including high-traffic corridors and mixed-use developments. The brand’s willingness to adapt its formats has supported steady growth in both established and emerging markets.

A notable milestone in the company’s evolution was its move into international territories, broadening its reach beyond North America. Panda Express continues to seek new sites in priority markets like the United States, Canada, Mexico, Puerto Rico, Guam, and Saudi Arabia. The company’s philanthropic arm, Panda Cares, further distinguishes the brand through ongoing community engagement.

For landlords, brokers, and developers, Panda Express presents a reliable tenant profile backed by decades of growth, a substantial store base, and a demonstrated ability to evolve with changing consumer and real estate trends. Its commitment to company-owned operations and flexible store formats positions it as a strong candidate for a wide range of retail and mixed-use projects.