PASADENA, Calif., March 21, 2018 /PRNewswire/ -- Alexandria
Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT
uniquely focused on collaborative life science and technology
campuses in AAA innovation cluster locations, today announced that
its board of directors has appointed Dean
A. Shigenaga and Thomas J.
Andrews as co-presidents, effective April 23, 2018. In their new roles, Mr. Shigenaga
and Mr. Andrews will be collectively responsible for overseeing
Alexandria's strategic operations.
Mr. Shigenaga will also continue in his role as chief financial
officer, as will Mr. Andrews in his role as regional market
director of Greater Boston.
"Dean and Tom have been an integral part of the Alexandria team for nearly two decades, and we
could not be more pleased they will be our new co-presidents," said
Joel S. Marcus, chairman, chief
executive officer and founder of Alexandria Real Estate Equities,
Inc. "They embody the skills essential for strong leadership,
decisive management and operational excellence."
Mr. Shigenaga joined Alexandria
in 2000 and has served as the company's chief financial officer
(CFO) since 2004. He is a certified public accountant with nearly
25 years of accounting and real estate experience. For the past 13
years as CFO, Mr. Shigenaga has effectively led the company's
financial, accounting and treasury functions and in doing so has
developed one of the best teams in the country. He and his team
were the architects of Alexandria's award-winning disclosures and
reporting, which were recognized by Nareit with the Investor CARE
(Communications and Reporting Excellence) Gold Award in 2015 and
2016. Over the past decade, Mr. Shigenaga has been instrumental in
the disciplined management of the company's balance sheet and the
significant improvement in its credit profile to its current best
position in the company's history. Alexandria's latest corporate credit rating of
BBB with a positive outlook from S&P Global Ratings, combined
with the continued disciplined management of its balance sheet,
will support the company's strategic long-term growth initiatives.
As co-president, Mr. Shigenaga will add to his leadership
responsibilities related to strategic operations.
Mr. Andrews has been responsible for the management of the
company's Greater Boston asset
base and operations since joining Alexandria in 1999. During his more than
18-year tenure, he has steered the transformative growth of the
Greater Boston region into the
company's largest region, which is home to three of Alexandria's most prominent life science and
technology campuses in the heart of Cambridge. As regional market director, Mr.
Andrews has led the strategic acquisition of multiple, value-added
properties; diligently managed on-time, on-budget development
projects; and cultivated and maintained key tenant relationships.
He has also built and guides a highly skilled team across a range
of disciplines with operational excellence. Leveraging nearly 30
years of experience in the commercial real estate industry, a
proven track record of leading the expansive Greater Boston region and a well-respected
reputation within the real estate, life science and technology
communities, Mr. Andrews will assume additional responsibilities
related to the company's overall strategic operations.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is an urban office REIT uniquely focused
on collaborative life science and technology campuses in AAA
innovation cluster locations, with a total market capitalization of
$17.9 billion and an asset base in
North America of 29.6 million SF
as of December 31, 2017. The asset
base in North America includes
22.0 million RSF of operating properties, including 1.7 million RSF
of development and redevelopment of new Class A properties
currently undergoing construction. Additionally, the asset base in
North America includes 7.6 million
SF of future development projects, including 1.6 million SF of
near-term projects undergoing marketing for lease and
pre-construction activities and 3.8 million SF of intermediate-term
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
Park. Alexandria has a
longstanding and proven track record of developing Class A
properties clustered in urban life science and technology campuses
that provide its 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 risk
capital to transformative life science and technology companies
through its 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 additional information on Alexandria, please visit www.are.com.
CONTACT: Joel S. Marcus, Chief
Executive Officer, Alexandria Real Estate Equities, Inc., (626)
578-9693
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SOURCE Alexandria Real Estate Equities, Inc.