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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

SEATTLE – September 10, 2018 – San Francisco-based commercial real estate investment firm Graham Street Realty (GSR) has acquired a unique, multi-tenant office building in Seattle’s Interbay neighborhood. The deal closed on August 23rd for a purchase price of $19.5 million. The seller was Seattle-based Goodman Real Estate.

“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,” said David Messing, co-managing principal of Graham Street Realty.

The 64,024 square foot property, located at 1631 15th Avenue W, offers unique, loft-style offices attractive to small and medium-sized tenants. The property was built in 2013 and has maintained occupancy above 90% since opening. The building features significant shared amenities, similar to common coworking spaces that have become popular in recent years. These include rentable conference rooms, free courtyard and common space Wi-Fi, an on-site fitness lounge, on-site property management, and 24-hour security monitoring. On-site parking, both covered and uncovered, is also available for visitors and leasable for the building’s tenants.

The loft work spaces are each roughly 1,000 square feet and feature complete kitchens and bathrooms as well as operable windows and mezzanine storage. The property’s contemporary architecture includes painted corrugated metal and cement fiber exterior walls, exposed vaulted ceilings, stainless steel appliances, and polished concrete floors. Upon acquisition, management of the property was transitioned to GSR affiliate Paramount Property Company, an Oakland-based company.

Seattle continues to be a national leader for population growth, and Forbes ranked the city third for “Best Places for Business and Careers” in 2017. Expedia’s announcement that they will move their corporate headquarters to the Interbay neighborhood in 2019 has brought a spur of redevelopment and interest to the immediate area, as approximately 3,000 employees are expected to relocate to the 40-acre waterfront campus in the next two years. Construction activity across the city has also continued to surge, with approximately 4.5 million square feet of Class A office space under construction.

This acquisition marks the 10th property in GSR’s portfolio. To learn more about the Interbay Work Lofts, visit www.interbayworklofts.com.

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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. To learn more, visit www.grahamstreetrealty.com.

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 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. To learn more, visit www.grahamstreetrealty.com.

Graham Street Realty’s acquisition of 1904 Franklin in Oakland was recently covered by BisNow

San Francisco-based Graham Street Realty has acquired two multi-tenant office buildings in Englewood from San Diego-based Westcore Properties.

The combined 171,976 SF portfolio includes 384 Inverness at 384 Inverness Parkway in the Inverness Business Park and Pyramid Pointe at 9777 Pyramid Court in the Meridian Business Park.

The purchase marks the company’s third and fourth commercial properties in Colorado.

“We are excited about these new acquisitions, which are well-located relative to the new locus of executive and workforce housing in the southeast corridor, and we look forward to the opportunity to lease near-term rollover in a strong market,” Graham Street Realty co-Managing Principal David Messing said.

Read the full story at BisNow.com