Graham Street Realty Announces Sale of Duffy Place
The Californer/10324203

SAN FRANCISCO, Aug. 26, 2025 ~ San Francisco-based commercial real estate investment firm Graham Street Realty (GSR) has recently announced the sale of Duffy Place, a multi-tenanted light industrial property located in San Rafael, California. The 58,935-square-foot property was sold to D.R. Stephens & Company, a commercial real estate investment firm based in San Francisco.

The transaction, which closed on August 19th, was originally sponsored by GSR in December 2021. During their ownership period, GSR implemented various upgrades to the property including resurfacing the parking lot, installing a new roof overlay, and making electrical and fire/life safety improvements. These efforts successfully stabilized the rent roll and improved the overall condition of the property.

According to Andrew Mustin, Director of Asset Management at GSR, "During our ownership period of Duffy Place, we provided much-needed capital improvements and successfully stabilized the rent roll. We are pleased to pass the torch to a capable operator of this light industrial infill site in San Rafael."

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Duffy Place is located at 21-37 Duffy Place and 607-615 Irwin Street in central San Rafael. The property features two multiuse industrial buildings on two lots with ample onsite parking. It is conveniently situated within a two-minute walk from the popular Shamrock Center and easily accessible from both U.S. Highway 101 and Interstate 580.

GSR's affiliate company Paramount Property Co., based in Oakland, managed Duffy Place during their ownership of the asset.

The sale of Duffy Place was brokered by Newmark with GSR represented by their Bay Area Private Capital Group and D.R. Stephens & Company represented by Jerry Suyderhoud and Joe McCallum from their San Rafael office.

Duffy Place's prime location in Marin County makes it an attractive investment opportunity for D.R. Stephens & Company as they specialize in industrial and research and development properties across the greater Bay Area of California.

The sale of Duffy Place marks another successful transaction for GSR and their affiliate Hamilton Zanze. With their strategic investments and upgrades, they continue to add value to the commercial real estate market in San Francisco and beyond.

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