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AcquisitionsFloridaMixed-UseRetailSoutheast

Linkvest Capital, MMG Equity Acquire Mixed-Use Destination in Downtown Homestead, Florida

by John Nelson

HOMESTEAD, FLA. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a mixed-use entertainment destination located on 4.8 acres at 4 S. Krome Ave. in downtown Homestead, about 39 miles south of Miami. LV Lending previously held a first mortgage on the property, and the acquisition was completed through a deed in lieu of foreclosure to Linkvest Capital and MMG Equity. Completed in 2019, Homestead Station is anchored by Evo Entertainment + IMAX, an entertainment venue that features cinemas and bowling, as well as numerous retail and dining establishments. The center also features an 1,100-space parking garage. There is currently 18,000 square feet of vacant space available to lease, according to the new owners.

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DevelopmentMultifamilySoutheastVirginia

Penzance Proposes Three-Tower Multifamily Development in Arlington, Virginia

by John Nelson

ARLINGTON, VA. — Penzance has submitted plans to Arlington County for the development of One Rosslyn, a three-tower multifamily development located in Arlington’s Rosslyn neighborhood. The Baupost Group is serving as a project partner for Penzance on the development. One Rosslyn will comprise a 30-story tower with 461 residential units, a 27-story tower with 319 apartments and an 82-unit condo tower. STUDIOS Architecture and Hickok Cole designed the project to span 900,000 square feet and offer upscale residences, amenities and neighborhood-serving retail space. Located at the intersection of Fort Myer Drive and Langston Boulevard, the project is designed around a 30,000-square-foot private landscaped terrace that will overlook the adjacent Gateway Park, which Arlington County is revamping. With the plans submitted, the county has formally begun the site plan review process. Penzance says One Rosslyn could break ground as soon as late 2026.

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DevelopmentGeorgiaLeasing ActivityRestaurantRetailSoutheast

Flying Biscuit Café Plans to Open 15 New Restaurants Next Year Across the Southeast

by John Nelson

ATLANTA — The Flying Biscuit Café, an Atlanta-based breakfast and brunch restaurant chain, plans to open 15 new locations in 2025. Founded in 1993, Flying Biscuit Café currently operates 35 locations, with a strong presence in Georgia, Texas, Alabama, Florida and the Carolinas. In 2025, the company will open restaurants in new markets, including Spartanburg, S.C.; Huntsville, Ala.; Knoxville, Tenn.; Tallahassee, Fla.; and Jonesboro, Ark. The Flying Biscuit Café opened five restaurants in 2024, which brought more than 150 jobs to local communities in Charleston and throughout Texas.

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Leasing ActivityNew JerseyNortheastRetail

Duck Duck Tooth Pediatric Dentistry Signs 3,900 SF Retail Lease in Ewing, New Jersey

by Taylor Williams

EWING, N.J. — Duck Duck Tooth Pediatric Dentistry has signed a 3,900-square-foot retail lease in Ewing, located just outside of Trenton. The space is located within the 355,000-square-foot Capitol Plaza shopping center, which is anchored by Marshall’s, Save A Lot, Planet Fitness, Dollar Tree and dd’s Discounts. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Jon Porter of CARR represented the tenant.

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DevelopmentFloridaRetailSoutheast

PEBB, Banyan to Develop 23-Acre Retail Project at Tradition Development in Port St. Lucie, Florida

by John Nelson

PORT ST. LUCIE, FLA. — PEBB Enterprises and Banyan Development have acquired a 23-acre parcel in Port St. Lucie with plans to develop a retail project at the site. Dubbed the Shoppes at Southern Grove, the retail center will be situated within the Tradition master-planned community. This marks the second retail development within Tradition for the joint venture, which acquired the site from an entity doing business as Mattamy Palm Beach LLC for $7.5 million. Upon completion, the project will feature a shopping center on 14.2 acres with additional outparcels available for ground lease ranging in size from 1 to 2.4 acres.

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DevelopmentHospitalityIllinoisMidwest

Bradford Allen Begins $25M Renovation of Hyatt Hotel in Rosemont, Illinois

by Kristin Harlow

ROSEMONT, ILL. — Bradford Allen Hospitality has begun a $25 million renovation of its Hyatt Rosemont Chicago O’Hare hotel to transform it into a Hyatt Centric full-service lifestyle hotel. The property is located at 6350 N. River Road across the street from Rivers Casino in the Chicago suburb of Rosemont. The renovations entail a full gut rehab of the property, which will result in 206 completely remodeled guest rooms, 12,000 square feet of modernized meeting space, an improved fitness center and a ballroom with capacity for up to 500 people. What was once an American eatery will be transformed into Cima, an upscale, beverage-forward restaurant with outdoor seating. Maverick Hotels & Restaurants will continue to oversee operations of the property.

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Leasing ActivityMidwestMissouriRestaurantRetail

Narwhal’s Crafted Opens at The District in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — Narwhal’s Crafted has opened at The District in Chesterfield, a suburb of St. Louis. The 3,600-square-foot venue marks the third location for Narwhal’s Crafted, which is known for its frozen cocktails, and features a 1,000-square-foot patio equipped with fire pits and a large outdoor screen. The Staenberg Group manages The District. Other tenants include The Factory, The Hub STL, Napoli Bros., 4 Hands Brewery, Hi-Pointe, The Reverie, Lit Cigar Lounge, Game Show Battle Rooms and Main Event.

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AcquisitionsMidwestRestaurantRetailWisconsin

Marcus & Millichap Arranges $2.1M Sale of Arby’s-Occupied Property in West Allis, Wisconsin

by Kristin Harlow

WEST ALLIS, WIS. — Marcus & Millichap has arranged the $2.1 million sale of a 1,544-square-foot restaurant property net leased to Arby’s in the Milwaukee suburb of West Allis. Constructed in 2004, the building is located at 10743 W. National Ave. Damien Yoder and Madison Harman of Marcus & Millichap’s The Yoder-Harman Group represented the buyer, 12947 Woodbridge Street LLC, a private investor. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

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Tanglewood-Apts-Davis-CA
CaliforniaLoansMultifamilyWestern

Dwight Capital Finances $59.9M HUD-Insured Loan for Apartment Community in Davis, California

by Amy Works

DAVIS, CALIF. — Dwight Capital has closed a $59.9 million HUD 223(f) refinance for Tanglewood @ Davis, a garden-style apartment complex in Davis. Spanning 14.3 acres, the property offers 216 one-, two- and three-bedroom units across 30 two-story residential buildings. Units include modern appliances, granite countertops, fireplaces and balconies or patios. Community amenities include private parking garages, a basketball court, dog park, fitness center, barbecue and firepit lounge and a swimming pool. Elliot Haft of Dwight Capital originated the transaction. The borrower was not disclosed.

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4999-Sidney-Rd-SW-Port-Orchard-WA
LoansMultifamilyWashingtonWestern

Northmarq Provides $43.6M Agency Refinancing for Multifamily Community in Port Orchard, Washington

by Amy Works

PORT ORCHARD, WASH. — Northmarq has provided a $43.6 million Fannie Mae loan for the refinancing of Haven Apartments, a garden-style multifamily property in Port Orchard, about 22 miles west of Seattle. The borrower was not disclosed. Located at 4999 Sidney Road SW, Haven Apartments offers one-, two- and three-bedroom floor plans with quartz countertops and high-end finishes, luxury vinyl flooring, walk-in closet options, balconies or patios, kitchen islands, full-sized washers/dryers, stainless steel appliances and primary suites. Robert Spiro of Northmarq’s Seattle Debt + Equity team originated the fixed-rate loan on behalf of the borrower. The interest-only financing was arranged through Northmarq’s Fannie Mae DUS program.

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