Alexandria Real Estate Equities, Inc. Partners With World-Class Life Science Consortium in Greater Boston to Launch First-of-Its-Kind Center for Advanced Technologies Innovation, Next-Generation Manufacturing and Impactful Workforce Development
PASADENA, Calif., Nov. 25, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced the launch of a first-of-its-kind consortium to catalyze advanced biological innovation and manufacturing in Greater Boston. As a founding member of this consortium of top-tier academic institutions, research hospitals and life science industry partners in Massachusetts, Alexandria will serve on the board of directors alongside Harvard University, the Massachusetts Institute of Technology, FUJIFILM Diosynth Biotechnologies and GE Healthcare Life Sciences. Additional contributing members include Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Brigham and Women’s Hospital, the Dana-Farber Cancer Institute, Massachusetts General Hospital, MilliporeSigma and the Commonwealth of Massachusetts. The powerful consortium has strategically convened to address the critical need for the development of important advanced technologies and to meet the region’s strong demand for increased access to next-generation cell and viral vector manufacturing production, as well as to provide a novel and impactful workforce development platform to help accelerate the translation of emerging technologies into transformative medicines that aim to treat, prevent or even cure devastating diseases.
“Alexandria has been a leader in developing the Greater Boston life science cluster since we entered the market in 1997. For more than 20 years, we have been driving innovation, job growth and economic diversity in this vital cluster by providing leading-edge life science companies with highly sustainable, first-in-class infrastructure, strategic venture capital and meaningful thought leadership,” said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. “As a socially responsible S&P 500 company that is laser focused on applying our truly unique and unparalleled expertise and experience to fulfill our mission to improve human health and nutrition, we are very proud to be a founding member of this world-class consortium to create an innovative and collaborative center involving advanced technologies and next-generation manufacturing. The highly respected member institutions and corporations have the scientific talent and the engineering capabilities to deliver truly novel therapies to patients suffering today from serious and life-threatening diseases and also to design the next-generation processes that will accelerate the translation of tomorrow’s cost-effective, lifesaving medicines from bench to bedside.”
Today, Alexandria’s operating asset base in Greater Boston consists of more than 6.5 million RSF of highly leased office/laboratory space, including 5 million RSF in the Cambridge submarket. The company’s collaborative campuses in this vital cluster support a diversified collection of high-quality life science and technology tenants, which include multinational pharmaceutical, public and private biotechnology, global technology and agtech companies, as well as institutional entities. With an additional 1 million RSF of value-creation development projects targeted for delivery through 2022, Alexandria uniquely brings to the consortium an unmatched ability to plan the site selection and technical implementation of the new center for advanced technologies innovation and manufacturing, in close proximity to the renowned institutions, hospitals and innovative companies seeking enhanced access to manufacturing capabilities that will speed up development for a new era of life-changing medicines.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $24.3 billion and an asset base in North America of 35.6 million SF as of September 30, 2019. The asset base in North America includes 25.4 million RSF of operating properties and 2.5 million RSF of Class A properties undergoing construction or pre-construction, with projected initial occupancy in the fourth quarter of 2019 or 2020, 4.9 million RSF of intermediate-term Class A properties undergoing or nearing pre-construction and 2.8 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, technology and agtech companies through our venture capital arm. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information, please visit www.are.com.
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the establishment and impact of a new center for advanced biological innovation and manufacturing. These forward-looking statements are based on Alexandria’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria’s forward-looking statements as a result of a variety of factors. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company’s forward-looking statements, and risks and uncertainties to the Company’s business in general, please refer to the Company’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, AVP – Corporate Communications, (626) 788‑5578, email@example.com
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