Press Releases

Graham Street Realty Announces Sale of Duffy Place

Commercial Property in Marin County Features Several Multiuse Spaces SAN FRANCISCO – Aug. 26, 2025 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, today announced it has sold Duffy Place, a 58,935-square-foot, multi-tenanted light industrial property in San Rafael, California. The transaction closed on Aug. 19. GSR originally sponsored the acquisition of Duffy Place, which sits in the heart of Marin County, in December 2021. GSR instituted several upgrade measures during its sponsored ownership of the property, including parking lot resurfacing, a new roof overlay, electrical and fire life safety upgrades and suite improvements. “During our ownership period of Duffy Place, we provided much-needed capital improvements and successfully stabilized the rent roll,” said Andrew Mustin, Director of Asset Management at GSR. “We are pleased to pass the torch to a capable operator of this light industrial infill site in San Rafael.” Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed Duffy Place during GSR’s sponsored ownership of the asset. Located at 21-37 Duffy Place and 607-615 Irwin Street in central San Rafael, Duffy Place features two multiuse industrial buildings on two lots with ample on-site parking. The site is within a two-minute walk from the popular Shamrock Center and easily accessible from both U.S. Highway 101 and Interstate 580. The property was purchased by D.R. Stephens & Company, a San Francisco-based commercial real estate investment firm founded in 1973 who specializes in industrial and research and development properties across the greater Bay Area of California. 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 the firm’s San Rafael office. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has sponsored the acquisition of over $485 million in office and industrial assets. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Graham Street Realty Announces Sale of Hunt Plaza

Commercial Property in Marin County to be Converted into Affordable Homes SAN FRANCISCO – Aug. 21, 2025 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, today announced it has sold Hunt Plaza, a 1.48-acre, 25,745-square-foot commercial property in Corte Madera, Calif. The transaction closed on Aug. 14. GSR sponsored the acquisition of Hunt Plaza, which sits 10 miles north of the Golden Gate Bridge, in December 2021. The buyer plans to convert the property into an affordable multifamily community featuring 99 homes. “At the time of purchase, we envisioned investing significant capital into Hunt Plaza to modernize the building and stabilize the rent roll through long-term, market-rate leases with both new and existing tenants,” said Andrew Mustin, Director of Asset Management at GSR. “However, when a buyer emerged with the ability to fully leverage current housing element opportunities, we shifted our strategy. We’re excited to see new affordable housing take shape at 240 Tamal Vista.” Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed Hunt Plaza during GSR’s sponsored ownership of the asset. Located just west of Highway 101 (Redwood Highway) near the intersection of Lucky Drive and Fifer Street, Hunt Plaza provides convenient access to Marin County’s vast transit network, which connects to the key employment centers in San Francisco and the North Bay Area. That includes Interstate 580, three ferry terminals, several bus service providers, Sonoma Marin Area Rail Transit (SMART) and numerous biking trails. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has sponsored the acquisition of over $485 million in office and industrial assets. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Graham Street Realty Announces Sale of Sequoia

  Commercial Property Features Nearly 40,000 Square Feet of Office Space in North Bay SAN FRANCISCO – May 28, 2025 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, today announced it has sold Sequoia Business Center, a two-story, 39,054-square-foot office building in Petaluma, Calif. The transaction closed on April 30. GSR sponsored the acquisition of Sequoia Business Center, which was built in 1994, in December 2021. GSR oversaw a number of upgrades at the property, including extensive speculative suite upgrades and site improvements. “We are very pleased to complete the disposition of Sequoia,” said Andrew Mustin, Director of Asset Management at GSR. “We enjoyed our ownership of this North Bay asset and believed the time was right to engage in this transaction and transition the property to its next owner.” Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed Sequoia during GSR’s sponsored ownership of the asset. Located at 1425 North McDowell Boulevard near Old Redwood Highway, Sequoia features flexible floor plans, a conference room, elevator access and 117 onsite parking spots. The building contains eight suites on each floor, ranging from 910 to 5,429 square feet. The property offers a relaxed atmosphere with mature landscaping and exterior patio space. Those interested in learning more about the suites currently available for rent at Sequoia Business Center should contact the property’s new owner, Rajesh Investment Properties, at 707-322-7982. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has sponsored the acquisition of over $485 million in office and industrial assets. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Graham Street Realty Announces Sale of The Redwoods

Firm Oversaw Numerous Improvements to the Flex Industrial Property in the San Francisco Bay Area SAN FRANCISCO – March 6, 2025 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, today announced it has sold The Redwoods, a nine-unit, 57,174-square-foot flex industrial property in Petaluma, Calif. The transaction closed on Feb. 19. GSR sponsored the acquisition of The Redwoods, which was built in 1988, in December 2021. GSR oversaw a number of improvements to the property, including the resurfacing of the parking lots, the optimization of the fire and life safety systems and the replacement of the roof membrane. “We are very pleased to complete the disposition of The Redwoods,” said Andrew Mustin, Director of Asset Management at GSR. “Over the three-year ownership period, Graham Street Realty performed a number of important upgrades to the property, as well as a speculative suite buildout. These improvements significantly boosted the appeal of the property. Having successfully executed our business plan and increased occupancy from 55% to 94%, we felt it was the right time to transition this unique asset to its next steward.” Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed The Redwoods during GSR’s sponsored ownership of the asset. Located near the intersection of North McDowell Boulevard and Old Redwood Highway, The Redwoods features 204 parking spaces, five grade-level roll-up doors and clear heights ranging from 17.5 feet to 25 feet. Surrounded by mature redwood trees, the property offers a park-like setting. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has sponsored the acquisition of over $485 million in office and industrial assets. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Graham Street Realty Announces Sale of Commerce Square

Firm Owned the Light-Industrial Property in Metro Denver for Three Years SAN FRANCISCO – April 2, 2024 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, sold Commerce Square, a light-industrial property located in the I-70 East submarket of Denver, at the end of 2023. GSR purchased Commerce Square, which comprises 144,464 rentable square feet of shallow-bay light industrial space across two Class B buildings, in December 2020. The project offers above-standard loading capabilities and an attractive front park/rear load orientation, catering to a wide array of tenants ranging from client-facing businesses to more traditional light-industrial users. Located less than 10 miles from downtown Denver, Commerce Square features 18-foot clear heights, both dock and drive-in loading capabilities and 265 parking spaces. The property was 96.4% leased at sale. “Denver’s light-industrial sector has performed well in recent years, with outstanding demographics and virtually no new supply in the small bay space,” said Jay Snover, managing director of GSR. “We’ve always believed Commerce Square belonged at the front of the pack relative to its competitive set, primarily due to the asset’s above-standard loading and front park/rear load orientation. At the time of our acquisition, some prospective bidders were scared off by slightly higher office finish ratios, but we found ways to monetize those improvements, with experienced tenants needing more, not less, space for administrative functions. JLL’s leasing team was integral to our success in playing to the project’s strengths and their capital markets team ultimately secured us a great outcome.” Class B market rent growth in the I-70 East submarket nearly doubled that of the broader market over the past five years. During its three-year hold, GSR was able to mark-to-market on approximately 82% of the project’s net rentable area, with in-place occupancy averaging over 99% throughout its ownership period. GSR was also able to grow the number of credit tenants in the project while further diversifying its rent roll. Paramount Property Co., an Oakland, California-based GSR affiliate, managed Commerce Square during GSR’s ownership of the asset. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has purchased over $485 million in office and industrial assets. As of first-quarter 2024, GSR currently owns and operates 24 properties in four states. Since its founding, the firm’s focus has been on value-add investment in the office and industrial sectors. To learn more, visit www.grahamstreetrealty.com.

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Hamilton Zanze Announces Promotion of Jay Snover to Managing Director of Affiliate Graham Street Realty

SAN FRANCISCO – March 14, 2024 – Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced today that Jay Snover has been promoted to managing director of affiliate Graham Street Realty. Snover previously served as the company’s senior director. Snover will continue to guide acquisition strategy, oversee capital formation and source deals for Graham Street Realty, which owns and operates commercial offices and multi-tenanted industrial properties. In his new role, Snover will oversee the portfolio management of the company’s extensive holdings in California, Colorado, Washington, and Arizona, including working directly with asset managers. “Jay’s contributions to the company speak for themselves, and we believe he is primed to excel in his new role,” said Kurt Houtkooper, CEO of Hamilton Zanze and managing principal of Graham Street Realty. “He is ambitious, knowledgeable and possesses the business savvy to lead the next era for Graham Street Realty. We look forward to continuing to work alongside Jay and the GSR team and know he will thrive with his heightened responsibilities.” Snover’s promotion comes months after the untimely passing of longtime Graham Street Realty Managing Partner, David Messing. Snover, Houtkooper, Toni-Ann Anderson and Andrew Mustin, who was recently promoted to Director of Asset Management, will work closely together to carry on Messing’s vision and continue the firm’s successful path forward. “I embrace the opportunity to build upon the foundation that Dave established for Graham Street Realty,” Snover said. “I believe our company’s future is bright, and I’m energized by the responsibility of leading and working closely with our team, to be both creative and strategic, and identify attractive opportunities that will produce meaningful returns for our investors.” Snover first joined Graham Street Realty in 2016 and has helped spearhead the acquisition of more than $350 million of office and industrial properties throughout the Western U.S., including the off-market acquisition of a 212,000-square-foot light industrial project in Colorado Springs, Colo. He has helped the organization expand its presence into four new target markets (Seattle, Phoenix, Boulder, and Colorado Springs) and redirected the company’s investment focus from Class B suburban office to Class A office, research and development and industrial product types. A University of California Berkeley and Walter A. Haas School of Business alum, Mr. Snover spent seven years with Embarcadero Capital Partners as director of acquisitions prior to his tenure at Graham Street. About Hamilton Zanze Hamilton Zanze is a private, San Francisco-based real estate investment company that owns and operates apartment communities with the highest standards. Since its founding in 2001, Hamilton Zanze has acquired over $6.8 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company currently owns and operates 124 properties (21,579 units) across 27 markets. For additional information, visit www.hamiltonzanze.com. About Graham Street Realty Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has purchased over $485 million in office and industrial assets. As of first quarter 2024, GSR currently owns and operates 24 properties in four states. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Graham Street Realty Acquires First Property in Arizona with Purchase in Scottsdale

SAN FRANCISCO, CA – September 1, 2022 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has acquired Cimmaron Industrial Park in the Scottsdale Airport Industrial submarket of the Phoenix metro. The deal closed on August 26, 2022, for a purchase price of $27.5 million. The property is currently fully leased. GSR is purchasing the property from a partnership of two high net worth investors. As part of the transaction, GSR will retain the in-place property management company, Greater Airpark Realty Services (“GARS”). GARS will be handling day-to-day operations, construction management, and property accounting. Cimmaron comprises 94,800 rentable square feet of industrial space across a five-building, separately parceled project totaling 6.73 acres. All five buildings were constructed in 1980 and have been well-maintained. The property provides small businesses with class-leading, functional industrial suites, with approximately 40% office and showroom space and 60% warehouse space. Cimmaron is located in one of the most affluent, supply-constrained submarkets in the greater Phoenix MSA – the Scottsdale Airpark. The submarket comprises 7.1 million square feet and currently boasts the highest asking rents in the entire 363-million square foot Phoenix industrial market. The Scottsdale Airpark is proximate to some of Arizona’s wealthiest communities, including Paradise Valley, Kierland, and North Scottsdale. The concentration of high-end housing in and around Scottsdale drives much of the leasing activity in the submarket and at the property. The Scottsdale Airport is one of the busiest private airports in the United States and is a driver of regional business. “Graham Street is excited for Cimmaron Industrial Park to be our first acquisition in the state of Arizona,” said GSR’s Director of Investments Jay Snover. “The asset fits our objective of purchasing real estate in irreplaceable, supply-constrained locations. We also look forward to building our relationship with Shell Commercial, Greater Airpark Realty Services, and CBRE.” This acquisition marks Graham Street Realty’s first acquisition in Arizona and marks the firm’s fourth industrial acquisition to date. #### __________________________________________________________________________________ ABOUT GRAHAM STREET REALTY Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has purchased over $485 million in office and industrial assets. As of third quarter 2022, GSR currently owns and operates 36 properties in four states. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office and industrial building market. To learn more, visit www.grahamstreetrealty.com.

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Cimarron Business Park aerial view of property with a red outline circling the property

Graham Street Realty Sells Boulder Office Building

BOULDER, CO – March 9, 2021 – San Francisco-based commercial real estate firm Graham Street Realty (GSR) has sold 5665 Flatiron Parkway in Boulder, CO. The transaction closed on March 2nd. “Despite choppy waters in the commercial office market, we were able to complete our business plan during 2020 and sell this asset for a strong investor profit due to its location in Boulder,” said David Messing, managing partner at Graham Street Realty. GSR purchased the asset in February 2019 as a part of a three-property portfolio. The portfolio comprised the properties located at 3005 Center Green Drive, 2945 Wilderness Place, and 5665 Flatiron Parkway, totaling 114,862 square feet of leasable office and lab space. 5665 Flatiron is located in East Boulder’s Flatiron Business Park, Boulder’s most conveniently accessible office inventory for employees commuting from Denver and more affordable residential communities to the East. The building caters to more established office tenants, with suites ranging from 10,000 to 20,000 square feet. The Boulder submarket continues to see high demand for office space and is home to new and expanding companies in the technology, life science, business service, and consumer products industries. The team was able to capitalize on the strong demand for assets in Boulder, despite a more challenging economic environment as a result of the coronavirus pandemic. #### _________________________________________________________________________________________________  ABOUT GRAHAM STREET REALTY Graham 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.

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Graham Street Realty Sells Boulder Office Property

BOULDER, CO – February 2, 2021 – San Francisco-based commercial real estate firm Graham Street Realty (GSR) has sold 2945 Wilderness Place. The transaction closed on January 22nd. “We were able to take advantage of the strong demand for life science properties despite the challenging economic environment,” said David Messing, managing partner at Graham Street Realty. GSR purchased the asset in February 2019 as a part of a three-property portfolio. The portfolio comprised the properties located at 3005 Center Green Drive, 2945 Wilderness Place, and 5665 Flatiron Parkway, totaling 114,862 square feet of leasable office and lab space. 2945 Wilderness Place is a two-story, Class B office and lab 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. During its ownership, GSR renewed the existing tenant for an additional term. 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. The team was able to capitalize on the strong demand for life sciences office spaces, despite a more challenging economic environment as a result of the coronavirus pandemic. #### _________________________________________________________________________________________________ ABOUT GRAHAM STREET REALTY Graham 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.

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Graham Street Realty Acquires First Industrial Property With Purchase In Aurora, CO

SAN FRANCISCO, CA – December 11, 2020 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR) has acquired Commerce Square in the I-70 East Industrial submarket of the Denver-Aurora metro. The deal closed on December 3, 2020 for a purchase price of $16 million. The property is currently fully leased. “Graham Street is excited to move into the industrial sector with the acquisition of Commerce Square,” said GSR Managing Principal David Messing. “We were drawn to this asset in particular due to its functionality, infill location and long history of institutional ownership. Denver’s light-industrial market has proven resilient in spite of the ongoing pandemic, and we believe it will continue to exceed expectations in the future.” Commerce Square comprises 144,464 rentable square feet of shallow-bay, light-industrial space across a two 1984-vintage, Class B buildings. The single-story buildings provide smaller industrial tenants with above-standard loading capabilities and attractive storefronts, catering to a wide array of tenants from client-facing businesses to more traditional light industrial users. GSR is purchasing the property from First Industrial Realty Trust, a prominent industrial REIT that has owned and operated Commerce Square for the past 20 years. The property has been well-maintained for many years, in stark contrast to much of the submarket. Upon acquisition, management of the property was transitioned to Oakland-based GSR affiliate Paramount Property Company. Commerce Square is located just southeast of the I-70 and Peoria Street intersection in the heart of the I-70 East submarket, which accounts for more than 40% of the Metro Denver industrial inventory. The property is less than a mile from the Regional Transportation District (RTD) Peoria Station, which also provides access to Downtown Denver and Denver International Airport via light rail. The Denver market has seen notable growth from e-commerce, construction/building materials, and manufacturing companies, particularly food and beverage production, aerospace, bioscience and energy-related products. This, coupled with a growing population and related distribution needs, has resulted in expanding local, national, and international company footprints throughout the metro region. This acquisition brings the Graham Street Realty’s Colorado portfolio to nine properties and marks the firm’s first industrial acquisition. __________________________________________________________________________________ ABOUT GRAHAM STREET REALTY Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm founded in 2007. Since that time, GSR has purchased over $275 million in office assets. As of third quarter 2020, GSR currently owns and operates 14 properties in three states. Since its founding, the firm’s focus has been on value-add investment in the multi-tenant office building market. To learn more, visit www.grahamstreetrealty.com.

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