The space tech industry is moving into aerospace real estate—and it could be good news for the asset class. Aerospace companies occupy more than 23 million square feet of space in the Los Angeles area, but the pandemic has put pressure on the market. However, recent growth in space tech could help to insulate aerospace properties, according to research from CBRE.

“Los Angeles has long been a hub for aerospace talent and has developed deep ties with federal funding in the sector since the first half of the 20th century,” Eric Willett, regional director of research and thought leadership at CBRE, tells “Since then, the industry’s fortunes have waxed and waned with the priorities of the federal government. Today, heightened federal support for space exploration has benefited the wide range of local groups specializing in the next generation of space technology including JPL, SpaceX, Rocket Lab, and Virgin Galactic.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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