HAWTHORNE, CA—East Coast-based REIT Chambers Street has acquired the Space Exploration Technologies Corp., known as SpaceX, headquarters property for $46.7 million. Located at 1 Rocket Road in Hawthorne, the property is a 510,000-square-foot net leased industrial facility.
SpaceX has leased the property through 2023. The company was created in 2002 and is a private commercial launch business known for designing, manufacturing and launching advanced rockets and spacecraft. This is important to note because the company's success in the space transportation industry is, in part, what attracted Chambers Street to the property. According the Jack A. Cuneo, president and CEO of Chambers Street, this is an ever-expanding industry and Chambers Street is excited to be a part of it.
The purchase of this property brings Chambers Street's industrial portfolio to 27 million square feet worldwide. Earlier this year, the REIT made several industrial purchases in Indianapolis, IL, an emerging industrial market. The purchases include a 622,000-square-foot industrial property acquired for $30.2 million. The property features 32' clear height and 60 truck doors with knockout panels and an adjacent land parcel suitable for up to a 227,000-square-foot expansion of the building.
Located in the South Bay industrial market near several tech and industrial properties, the Hawthorne facility is located near the 105 freeway and 10 minutes from the Los Angeles International Airport.
We plan to update this story with more information as it becomes available.
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