Inside the ownership structure of 111 West 57th St.

From left: PMG’s Kevin Maloney, the partial ownership structure of 111 West 57th Street and JDS’ Michael Stern From the New York website: Who really owns the city’s biggest development projects? It’s a question that has stumped industry observers for years, as investors typically operate from behind LLCs and ownership stakes are closely-guarded secrets. On…

Miami business park sold for $16.6M

The Webster Business Park in Miami traded for $16.6 million. Webster Business Park LLC, an affiliate of Boston-based TA Realty, sold the 178,521-square-foot industrial property at 7200 N.W. 25th Street to Cofe Cix Webster Park LLC, an affiliate of Miami-based commercial real estate firm Cofe Properties. Miami Lakes-based BankUnited provided an $11.1 million mortgage to…

Orchard Supply Hardware entering South Florida

Orchard Supply Hardware has nailed down four locations in Broward County as it begins expanding into Florida. Founded in California in 1931, Orchard Supply was acquired by Lowe’s Cos. in 2013. With locations from 35,000 to 40,000 square feet, it fits a niche between the big-box stores and small neighborhood hardware stores, Orchard Supply President…