The construction of Spaceport America could lead to a “spate” of new commercial real estate development in the area, a trade publication for that industry says.
Citing the inking earlier this year of a long-term lease with anchor tenant Virgin Galactic and the hiring of a contractor to oversee construction of the world’s first purpose-built commercial spaceport, the article in Commercial Property News puts a positive spin on the potential for southern New Mexico.
The possibilities for growth include “an assortment of research parks and mixed-use industrial projects,” Las Cruces realtor (and state transportation commissioner) John Hummer told the publication. That includes New Mexico State University’s Arrowhead Research Park and facilities near the airports in Las Cruces and Truth or Consequences.
From the article:
“(Hummer) added that the cluster won’t mushroom overnight, but like most new industries will evolve over a few years — and the new space industry is often compared with the early years of aeronautics as a commercial endeavor. ‘There’s a lot of relationship- and contact-development happening at this point,’ he says. ‘Developing a brand-new industry is a long-term, high-risk proposition, but the potential rewards and spinoffs are enormous.’”