Spacehab Inc. sold the 58,000-sf property at 620 Magellan Rd. to Miami-based Tamir Silvers LLC for $4.8 million or $82.76 per sf. The Houston-based firm then leased back the facility for five years with an option to renew the lease for another five years.
The deal was done at this time "to further improve [the company's] liquidity and enhance operating efficiencies," Spacehab president and CEO Michael E. Kearney says in a prepared statement. "This strategically focused transaction provides us with the flexibility to consolidate or modify our Florida facility operations to reflect support we provide to NASA and other customers as we evolve from space station assembly and resupply efforts to initiatives in support of the nation's Vision for Space Exploration [program]."
The sale-leaseback calls for Spacehab to lease the entire property. Spacehab currently has subleases in place that occupy about 20% of the available space with another 20% on hand for prospective tenants.
Kearney says the facility has clean-room accommodations and all ground support equipment enabling Spacehab's carriers and their payloads to be tested prior to delivery to the nearby Kennedy Space Center for final integration into NASA's space shuttles.
Spacehab and astronaut crews have conducted testing and training activities at the facility since 1991 to support 18 prior space shuttle and space station missions. Preparations are currently under way for missions STS-114 and STS-121. NAI Realvest Partners Inc. handled the sale-leaseback transaction for both parties.
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