HAWTHORNE, CA—East Coast-based REIT ChambersStreet has acquired the Space ExplorationTechnologies Corp., known as SpaceX,headquarters property for $46.7 million. Located at 1 Rocket Roadin Hawthorne, the property is a 510,000-square-foot net leasedindustrial facility.

SpaceX has leased the property through 2023. The company wascreated in 2002 and is a private commercial launchbusiness known for designing, manufacturing and launching advancedrockets and spacecraft. This is important to note because thecompany's success in the space transportation industry is, in part,what attracted Chambers Street to the property. According theJack A. Cuneo, president and CEO ofChambers Street, this is an ever-expanding industry and ChambersStreet is excited to be a part of it.

The purchase of this property brings Chambers Street'sindustrial portfolio to 27 million square feet worldwide. Earlierthis year, the REIT made several industrial purchases in Indianapolis, IL, an emerging industrialmarket. The purchases include a 622,000-square-foot industrialproperty acquired for $30.2 million. The property features 32'clear height and 60 truck doors with knockout panels and anadjacent land parcel suitable for up to a 227,000-square-footexpansion of the building.