**Graham Street Realty Sells Hunt Plaza in Corte Madera for Residential Conversion**
San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has sold Hunt Plaza—a 1.57-acre, 68,456-square-foot commercial property located in Corte Madera. Though the sale price remains undisclosed, the buyer intends to convert the site into an affordable multifamily community featuring 99 residential units.
Originally acquired by GSR in December 2021, Hunt Plaza is located approximately 10 miles north of the Golden Gate Bridge. According to Andrew Mustin, Director of Asset Management at GSR, the initial strategy was to invest in upgrading the property and securing long-term market-rate leases.
“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,” Mustin explained.
He added, “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.”
During GSR’s ownership, the property was managed by Paramount Property Co., an Oakland-based GSR affiliate.
This transaction marks an important step toward addressing the regional need for affordable housing in the Bay Area.
