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WEBSTER, TX-With the ink now dried on the deal, details about Spacehab Inc.’s sale-leaseback transaction have emerged. The NASA subcontractor gained more than $1 million profit after buying a 90,987-sf industrial facility and 9.3 acres for $2 million in the morning and flipping the building and six acres to R&H Investments that afternoon for $3.3 million.

The subcontractor retained 3.3 acres and agreed to lease back the facility from Los Angeles-based R&H Investments for 10 years. “It was just a unique situation,” says Kimberly Campbell, a vice president with Spacehab, “and we were happy to do it.” She tells GlobeSt.com that the company had been a tenant in the facility at 12130 Highway 3 for three years when it heard that the building was for sale. “We had first right of refusal to buy the building and we knew of a buyer that would buy it from us,” she explains. Spacehab acquired the facility from Beal Bank.

The building, positioned across the street from Ellington Field, houses Spacehab’s headquarters, Campbell says. Fred Deal with Jackson & Cooksey in Dallas represented Spacehab in both transactions. Chuck Gardner in GVA Daum’s Newport Beach, CA office, handled the trade for R&H Investments.

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