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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.