News

Stay up to date on news about GSR and our markets.

Press Releases Graham Street Realty Acquires Three-Building Boulder Office Portfolio

Press Releases

Graham Street Realty Acquires Three-Building Boulder Office Portfolio

BOULDER, CO – Feb. 17, 2019 – San Francisco-based commercial real estate firm Graham Street Realty (GSR) has acquired a three-building Boulder, Colorado office portfolio comprising the properties located at 3005 Center Green Drive, 2945 Wilderness Place, and 5665 Flatiron Parkway. The portfolio, or “The Boulder Collection,” was purchased from SteelWave, and the buildings total 114,862 square feet of leasable office and lab space. The deal closed on Thursday, February 14th. The acquisition brings the firm’s commercial office assets to a total of four buildings in the Boulder market in addition to four buildings located across the Metro Denver area. The Boulder submarket continues to see high demand for office space and is home to new and expanding companies in the technology, business service, and consumer products industries. “When you think about Boulder’s lifestyle attributes, entrepreneurial spirit, and natural beauty, it really feels like an unparalleled place to live and work, and we don’t see that changing,” said Jay Snover, a director with Graham Street Realty. “This deal represented a unique opportunity to purchase a collection of institutionally maintained properties that cater to small and large office users as well as lab tenants.” 3005 Center Green Court, known as Plaza III, was built in 1984 and had an 87.5% occupancy rate at the time of purchase. The property features 43,421 rentable square feet, unimpeded views of the Flatirons, and covered parking. 2945 Wilderness Place is a two-story, Class B office building comprising both traditional office and lab improvements. It features ample surface parking and is within walking distance of nearby restaurants. This property is fully leased to a single biotechnology tenant and has maintained 100% occupancy for over 20 years while functioning as a life science building. 5665 Flatiron Parkway comprises 40,554 rentable square feet built in 1988 and is prominently located along the main entrance into Flatiron Business Park. It features a well-appointed, double-height lobby, a glass roll-up door, and modernized common areas and landscaping. The property also offers an above-standard parking ratio at 3.6 stalls per 1,000 rentable square feet. The Graham Street Realty team plans to continue the prior ownership’s building renovation program and will build out a range of contemporary creative office suites to fill remaining vacancies. Erik Abrahamson with CBRE has been appointed by ownership to handle leasing. _________________________________________________________________________________________________ ABOUT GRAHAM STREET REALTYGraham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm with assets in the Western United States. Since its founding in 2007, the firm’s focus has been on value-add investment in the multi-tenant office building market. It currently holds more than 1.1 million square feet of commercial office space. To learn more, visit www.grahamstreetrealty.com.

Year of Construction:

Space: SQ FT


Interbay Work Lofts sells for $19.5 million

Graham Street Realty’s acquisition of 1904 Franklin in Oakland was recently covered by the Puget Sound Business Journal: San Francisco-based commercial real estate investment firm Graham Street Realty (GSR) has purchased Interbay Work Lofts in Seattle’s Interbay neighborhood for $19.5 million. The seller of the three-story 64,024-square-foot property was Seattle-based Goodman Real Estate. The building has 63 work lofts. The deal closed Aug. 23. “We are excited to acquire this one-of-a-kind office property in Interbay, which is quickly transforming into a significant nexus between some of Seattle’s most dynamic residential neighborhoods and downtown,” David Messing, co-managing principal of Graham Street Realty, said in a statement. Read the full story at BizJournals.com

Year of Construction:

Space: SQ FT


Graham Street Realty Acquires Oakland’s ‘1904 Franklin’ Office Building

OAKLAND, CA – September 10, 2018 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR) has acquired the 1904 Franklin office building in the Uptown neighborhood of Oakland. The deal closed on August 28th for a purchase price of $18.25 million. “Graham Street is thrilled about our return to the Oakland market, which is where it all started for us,” said David Messing, co-managing principal of Graham Street Realty. “1904 Franklin presents us with an opportunity to transform this transit-oriented property into the premier small tenant building in uptown Oakland.” The nine-floor building includes 42,497 square feet of office space and 8,011 square feet of ground floor retail space. The building lies just one block from the Bay Area Rapid Transit (BART) light rail system, two blocks from Lake Merritt, and is surrounded by significant dining and cultural amenities. The building was originally built in 1923 and is rich with historic character. The exterior features ornate detail and a primarily brick façade, with marble on the ground level. GSR plans to renovate the office lobby area, improve the façade, and upgrade the common-area corridors and restrooms. Current tenants include a diverse range of professional offices, artists’ studios, and financial and healthcare service offices. Upon acquisition, management of the property was transitioned to GSR affiliate Paramount Property Company, an Oakland-based company. Uptown Oakland’s Class B-rich neighborhood has grown a reputation as Oakland’s “creative office” submarket and has seen the highest rents across the entire Oakland CBD area in recent years. Uptown Oakland is also home to significant multifamily and mixed-use development, with four major projects under construction within blocks of the 1904 Franklin property. Oakland benefits from its proximity to major employment hubs, including San Francisco and the technology-dominated Silicon Valley region. In recent years, amidst the massive regional growth, the city has grown into an amenity-rich, live-work alternative to the famed higher living costs of San Francisco. This acquisition brings the Graham Street Realty portfolio to 11 properties totaling over 1 million square feet as of the time of close. __________________________________________________________________________________ ABOUT GRAHAM STREET REALTYGraham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm with assets in the Western United States. Since its founding in 2007, the firm’s focus has been on value-add investment in the multi-tenant office building market. To learn more, visit www.grahamstreetrealty.com.

Year of Construction:

Space: SQ FT