A South Florida company is making its first foray Treasure Coast, with the opening of an Original Pancake House franchise at 4110 N.W. Federal Highway in Jensen Beach. The eatery’s exclusive Florida franchisee, a company known as OPH South Florida, bought the location for approximately half its original asking price of $2.1 million after the previous owner, Bob Evans Farms Restaurant, placed it on the market three years ago. Steven Kamelhair, president of OPH, said that timing was everything when it came to the franchise’s market move. “[The lower price] was a reflection of current market conditions and I’m happy we were able to take advantage of it,” Kamelhair said. “I’m sure Bob Evans wasn’t thrilled about it.” [TCPalm]

The Dizengoff Trading Group, an Israeli real estate development and commodities firm, plans to start buying distressed commercial and residential real estate within the next year. The firm has opened an office in Boca Raton and will concentrate on shopping centers and half-sold condo communities, U.S. region manager Ronen Saban said. In July, Dizengoff bought the Shoppes at Monarch Lakes in Miramar, a 64,020-square-foot shopping center, for $8.29 million. Portofino in Jensen Beach, a 118-unit incomplete condominium complex, was another recent acquisition at $6.75 million. [Miami Herald]  [more]

Dizengoff Group, an Israeli investment firm, has added 118 more condominium units to its South Florida portfolio. The group purchased the condos at Jensen Beach’s Portofino for $6.75 million. It also owns a Broward County shopping center, anchored by a Publix supermarket, which it bought in July. Ronen Saban, manager of their Boca Raton Florida headquarters, said the group would be making more purchases in the region in the next year. TRD