San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has sold Duffy Place, a 58,935-square-foot, multi-tenanted light industrial property at 21-37 Duffy Pl. and 607-615 Irwin St. in San Rafael, for an undisclosed sum. The buyer was D.R. Stephens & Company, a San Francisco-based commercial real estate investment firm specializing in Bay Area industrial and R&D properties.
GSR acquired the property in December 2021 and instituted several upgrade measures during its sponsored ownership of the property. “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.”
The sale of Duffy Place was brokered by Newmark, with GSR represented by the firm’s Bay Area Private Capital Group. D.R. Stephens & Company was represented by Jerry Suyderhoud and Joe McCallum of the firm’s San Rafael office.
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