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26 Aug

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.

09:10 / News / Press Releases
21 Aug

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.

10:21 / News / Press Releases
28 May

 

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.

09:32 / News / Press Releases
06 Mar

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.

09:28 / News / Press Releases
18 Jul

GTIS Partners and Graham Street Realty Celebrate Solar System Energization

SAN FRANCISCO (July 18, 2024) — Clean, green solar power is flowing from the newly constructed 575-kW roof mount solar system recently installed at Belvedere Place, a prominent Class A office complex in Mill Valley, CA, located just north of the Golden Gate Bridge.

With over 1,000 solar panels installed, the system is expected to meet 95% of the 105,000-square-foot buildings’ electricity demand, with tenants benefiting from a 10% electricity rate discount. Current occupants of the two three-story buildings include Merrill Lynch, UBS, WeWork, Redwood Trust, and several private wealth management firms.

GTIS Partners, a New York City-based real assets investment firm, and Graham Street Realty, a San Francisco-based commercial real estate owner-operator, acquired Belvedere Place in August 2019. Both sustainability-in-development champions, the joint property owners were motivated to offer tenants access to green power at a discount and contribute to reducing greenhouse gas emissions in a meaningful way. That goal was achieved through partnerships with SolarKal, a commercial solar advisory and procurement firm, and Greenskies Clean Focus, a national leader in renewable energy solutions.

“We are thrilled to celebrate the completion of this important solar energy project,” said Peter Ciganik, Partner and Head of Capital Markets at GTIS. “Sustainability and environmental stewardship are deeply integrated into our business model, and we are proud to have been recently named a Gold Level Green Lease Leader by the U.S. Department of Energy Better Buildings Alliance.”

“The installation of solar panels at Belvedere Place marks a significant milestone in our sustainability journey,” said Andrew Mustin of Graham Street Realty. “By harnessing the power of renewable energy, we are not only cutting operational costs but also significantly reducing our environmental impact. This achievement was made possible through our strong partnership with GTIS and the expertise of SolarKal and Greenskies. Together, we are committed to creating eco-friendly commercial spaces that benefit both our tenants and the community.”

SolarKal analyzed the GTIS nationwide portfolio, assessed utility bills, designed preliminary photovoltaic systems, and modeled returns, ultimately choosing Belvedere Place as a top property for solar development. SolarKal’s proprietary procurement process identified Greenskies Clean Focus as the preferred provider given the firm’s strong local area expertise.

“This shining California success story demonstrates that there are creative structures like this hybrid PPA roof lease that are a great alternative to community solar, which is still under policy development in California,” said Neil Sharma, Co-Founder and Chief Commercial Officer of SolarKal. “All parties involved showed a strong commitment to success.”

Greenskies is the project’s developer, financer, owner, and long-term operator under a 25-year power purchase agreement (PPA). Greenskies will also provide ongoing operation and maintenance to the site.

“Greenskies is excited to partner with SolarKal, GTIS Partners, and Graham Street Realty to bring the Belvedere Place solar project to light,” said Stanley Chin, President and CEO of Greenskies Clean Focus. “This collaboration exemplifies our commitment to providing innovative, sustainable energy solutions that deliver long-term value. It ensures a stable and low-cost energy source and contributes to the broader goal of a low-carbon future.”

The solar system will reduce nearly 600 metric tons of CO2 emissions each year, equivalent to the CO2 emissions from 116 homes’ annual electricity use.

 

About GTIS Partners
GTIS Partners is a global real estate investment firm in the Americas, headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Dallas, Houston, and Munich. The firm was started in 2005 and is managed by President and Founder Tom Shapiro and seven partners. The firm manages $4.5 billion in gross assets and is active across a wide range of real estate sectors, including single family and multifamily housing, office, industrial/logistics, and hospitality as well as opportunity zone investments. For more information, please visit www.gtispartners.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 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.

About SolarKal
Since 2015, SolarKal has been helping businesses make the smart switch to solar, streamlining the process from start to finish. Our expert solar advisors harness the power of competition in our proprietary provider marketplace, saving our clients time, money, and internal resources.

SolarKal has become the leading solar advisory and marketplace for commercial real estate, working closely with more than 50 commercial real estate companies, publicly traded REITs, Fortune 500 companies, national education organizations, and commercial properties from the East Coast to the West. Learn more at SolarKal.com.

About Greenskies Clean Focus
Greenskies Clean Focus offers a full suite of decarbonization solutions, including on-site and off-site solar, battery storage, microgrids, and CCHP. Our vertical integration delivers the most cost-competitive solutions for commercial, public sector, and utility energy users throughout the U.S. From beginning to end, our customers work with a single delivery team. Greenskies originates, develops, constructs, and operates, while Clean Focus finances and owns the systems. Since our founding in 2009, we have developed and constructed 320 MW of renewable energy facilities across over 600 sites in 19 states. Solar Power World ranks Greenskies Clean Focus as the number one commercial solar developer in the Northeast and top three in the U.S., based on cumulative kW installed.

For more information about Greenskies Clean Focus and its decarbonization solutions, please visit www.greenskies.com.

09:43 / News
02 Apr

overhead commerce square light industrial

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.

09:21 / News / Press Releases
19 Mar

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.

10:05 / Press Releases
08 Sep

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.

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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.

09:40 / Press Releases
09 Mar

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.

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 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.

11:01 / Press Releases
02 Feb

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.

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_________________________________________________________________________________________________

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.

14:32 / Press Releases