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rivate companies like SpaceX and Blue Origin are pushing the boundaries of space exploration, with reusable rockets and plans for lunar and Martian colonization. This has caught the attention of real estate investors, who see opportunities in infrastructure development to support these endeavors. The concept is reminiscent of the early days of railroads, where entire towns grew up around new lines.

    One of the biggest plays is the development of data centers in space. With unlimited power from the sun and cooling provided by the vacuum of space, these facilities can be fully decarbonized. Companies like Hines and Ethos are already building out space-support infrastructure, including logistics centers and manufacturing facilities on the moon.

    Hines recently acquired a 250,000-square-foot industrial property in Florida's Space Coast submarket, which is fully leased to aerospace tenants. David Steinbach, global chief investment officer at Hines, sees this as just the beginning of a major investment boom in space real estate. "We're creating these new rails of the future," he said.

    Data centers are one of those rails, and several companies are working on construction methods for the moon, including 3D printing. ICON is collaborating with NASA to develop 3D printing technology for construction on the moon and Mars. Ethos has developed a technology that can turn the moon's primary material, anorthosite, into buildable props.

    Ross Centers, CEO of Ethos, said his company can also use anorthosite to make raw materials for solar panels, conductors, and other materials needed to build data centers and industrial facilities. With the proliferation of rocket launches expected to multiply, Centers sees a massive opportunity for growth.

    While industrial warehouses on Earth will still serve the space economy, providing capacity for transportation and manufacturing, Steinbach notes that the warehouse sector is facing headwinds due to tariff uncertainty. However, certain markets like Florida and Texas are undersupplied, and the space-support sector is one of them. With lower interest rates, Steinbach believes capital will flow into this sector, creating new opportunities for investors.