Jul 15, 2015, 7:28am EDT
South Florida Business Journal
A retail and dining project in Pembroke Pines that will include a Twin Peaks restaurant secured a $12.53 million construction loan from City National Bank of Florida.
The Miami-based bank awarded the loan to PP Omni Ventures, a partnership between East Syracuse, New York-based Point Five Development and Weston-based Jafrejo Holdings. The latter company is the owner of restaurant brands Twin Peaks and VooDoo BBQ and Grill and has raised funds through the EB-5 visa program.
The project is located on the west side of Southwest 145th Avenue next to the Shoppes at Pembroke Gardens, a busy open-air mall. Jafrejo CEO Jack Flechner said it should break ground by the end of August. He likes the location because of the successful retail nearby and the new apartments and office projects under construction there.
Flechner said Twin Peaks will occupy a 9,500-square-foot, stand-alone building. There will be another two buildings for a combined 29,000 square feet. Tenants will include TooJay’s deli, Comcast, a Pieology pizzeria, AT&T and Firebirds Wood Fired Grill.
Pieology currently has no Florida locations. Firebirds’ only Florida restaurant is in Orlando.
The developer paid $7.9 million in 2014 for the 5.6-acre site.