Spacehab Inc. cleared about $1 million under a real estate transaction of its Houston headquarters building.

Spacehab, which provides space services to commercial and government customers, exercised a provision in its lease agreement that allowed the company to buy the 9.3-acre tract for about $2 million. Spacehab sold part of the property for $3.3 million and signed a 10-year lease to keep its headquarters in the building while maintaining ownership of about three acres of land.

“This sale-leaseback is another positive step toward building our financial strength,” Spacehab CFO Brian Harrington said in a statement. “We now benefit from lower overall lease expenses, a generation of additional cash and the acquisition of an adjacent piece of property that could be used for our own business uses or for sale at a later date.”