G
raham Street Realty Announces Sale of Duffy Place
San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has sold Duffy Place, a 58,935-square-foot multi-tenanted light industrial property in San Rafael, California. The transaction closed on August 19.
Located at 21-37 Duffy Place and 607-615 Irwin Street, the site features two multiuse industrial buildings with ample onsite parking. It's within walking distance of the popular Shamrock Center and easily accessible from U.S. Highway 101 and Interstate 580.
GSR originally sponsored the acquisition of Duffy Place in December 2021 and implemented several upgrades during its ownership period, including a new roof overlay, electrical and fire/life safety improvements, and suite renovations. "We provided much-needed capital improvements and successfully stabilized the rent roll," said Andrew Mustin, Director of Asset Management at GSR.
Paramount Property Co., an Oakland-based affiliate of GSR, managed Duffy Place during its ownership period. The property was purchased by D.R. Stephens & Company, a San Francisco-based commercial real estate investment firm specializing in industrial and research and development properties across the greater Bay Area.
The sale of Duffy Place was brokered by Newmark, with GSR represented by the firm's Bay Area Private Capital Group, and D.R. Stephens & Company represented by Jerry Suyderhoud and Joe McCallum of their San Rafael office.
Graham Street Realty is a private commercial real estate investment firm founded in 2007, focusing on value-add investments in multi-tenant office and industrial buildings.
