Aerospace Manufacturing and Design
3 million sq. ft. Innovation Park is planned across 450 acres in Brevard County.
Author: Eric Brothers, Aerospace Manufacturing and Design
Global real estate investment, development, and property manager Hines, in partnership with Titusville, Florida-based Key Group, announce Space Coast Innovation Park, a 3.0-million-square-foot project situated across 450 acres in the heart of Florida’s Space Coast in Brevard County. The state-of-the-art project will be located along Grissom Parkway and Perimeter Road, within the boundaries of Space Coast Regional Airport’s (TIX) federally licensed Exploration Spaceport in Titusville.
Space Coast Innovation Park will be developed in three phases. Phase I, which comprises three rear-load industrial buildings totaling more than 639,000ft2 across 50 acres, is projected to break ground in Q1 2024. Phase II will include two industrial buildings of nearly 466,000ft2 across 50 acres. Phase III will feature a mixed-use development spanning 350 acres, with details to be announced at a future date.
“As the rapid commercialization and privatization of the aerospace industry continues, with the space economy expected to generate more than $1 trillion in annual sales by 2040, we believe now is the perfect time to create a best-in-class logistics hub for aerospace companies requiring more direct access to Kennedy Space Center and Cape Canaveral than properties located further south can offer,” said Ryan Wood, managing director at Hines. “As one of the first groups to deliver a modern industrial park to prospective aerospace and defense tenants seeking to enter or expand their operations in North Brevard County, we look forward to partnering with Key Group to meet the critical logistics needs of Space Coast businesses.”