BEVERLY HILLS, CA / ACCESSWIRE / March 9, 2022 / StarPoint Properties today announced the commencement of construction on 6th Street Business Park, a 179,000-square-foot speculative industrial warehouse located at 24712 6th Street in San Bernardino, CA. Located in an Opportunity Zone, the 9.8-acre site will be developed into a Class A distribution building featuring 36-foot clear heights and a gated truck court with space for 39 truck docks and queuing space for 6 trucks, plus enough parking space for 120 car stalls.

StarPoint acquired the property unentitled and in January received project approvals. During the entitlement process StarPoint held several community meetings and connected with community stakeholders to address any concerns. The result of the process was a forward-looking design capable of charging electric forklifts, cars and tractor trailers. The roof is designed to receive solar panels, and the photovoltaic system will be custom designed to meet the needs of tenants.

StarPoint CEO Paul Daneshrad noted, "We are thrilled to be investing in San Bernardino with this project that meets the goals of the Opportunity Zone program to utilize local businesses and sourcing local materials. Construction and operations will create good-paying jobs for women and minority owned businesses and we will make improvements to the neighborhood through undergrounding overhead power poles and building pedestrian friendly sidewalks."

Mark Zorn, Senior Executive Vice President at Colliers International will be charged with leasing the facility space, which is in high demand as vacancy in the submarket is hovering around 1 percent and the supply pipeline remains limited.

StarPoint Properties is actively seeking land development sites in Opportunity Zones in Tier I and Tier II markets across the western United States. As a private capital company based in Beverly Hills, California, Starpoint closes on its own balance sheet without the approval or funding from outside investors. For more than 25 years, StarPoint has built its reputation as a trustworthy partner capable of executing on complex real estate transactions and delivering exceptional results.

ABOUT STARPOINT PROPERTIES

StarPoint Properties is a real estate investment and operating company with a 25 year track record of delivering exceptional market returns to its investors by focusing on the acquisition, development and redevelopment of under-valued multifamily and commercial properties. The primary goal of the firm is to deliver asymmetrical risk-adjusted returns and to outperform most other alternative investment vehicles. StarPoint Properties is located at 433 N. Camden Drive, Suite 1000 in Beverly Hills, CA 90210. For more information, visit www.starpointproperties.com or email info@starpointproperties.com.

SOURCE: StarPoint Properties