StarPoint Properties recently closed the sale of 6th Street Point, a 179,000-square-foot industrial property located on a 9.8-acre site at 24712 6th St. in San Bernardino for $49.5 million to a global institutional real estate firm. This Opportunity Zone (OZ) project marks the first OZ sale for Starpoint and one of few full cycle OZ sales in the marketplace to date with an impressive 242% return on investment following their acquisition of land for $6.5 million in 2020 alone.
Paul Daneshrad, CEO and founder of Starpoint Properties commented: “Our Prime and Prime OZ Program was able to maximize returns on this investment within just three years – by selling now we’re able to pursue future projects that will continue yielding high returns for our investors.”
