StarPoint Properties Sells 9.8-acre Industrial Property In San Bernardino For $49.5M

StarPoint Properties has completed a $49.5 million sale of 6th Street Point, an industrial property located at 24712 6th Street in San Bernardino, California. The property spans 9.8 acres and offers 179,000 square feet of space. It was sold to a global institutional real estate firm, showcasing StarPoint's strategy and ability to maximize returns in a shorter timeframe. The sale price resulted in a per square foot price of $277, highlighting the favorable investment opportunity.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $49,500,000
• Address: 24712 6th Street, San Bernardino, California
• Market: San Bernardino
• Land Size: 9.8 acres
• Square Footage: 179,000
• Price Per Square Foot: $277

This successful transaction was facilitated by Paul Daneshrad, the representative of StarPoint Properties. The sale is part of an Opportunity Zone (OZ) project, further highlighting the strategic decision-making of StarPoint. With a significant return on investment of 242%, StarPoint's ability to generate compelling returns allows for future investments in Colorado and Arizona. This sale underscores StarPoint's expertise in the industrial property sector.