Graham Street Realty Announces Sale of Duffy Place

Commercial Property in Marin County Features Several Multiuse Spaces

SAN FRANCISCO, Aug. 26, 2025 /PRNewswire/ -- 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, Calif. 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 onsite 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 that 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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SOURCE Graham Street Realty