PASADENA, Calif., Dec. 14,
2023 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE), the first, preeminent, longest-tenured and
pioneering owner, operator and developer of collaborative life
science, agtech and advanced technology mega campuses in AAA
innovation cluster locations, today announced that it has executed
a long-term lease with CARGO Therapeutics for 99,557 RSF at 835
Industrial Road on the Alexandria Center® for Life
Science – San Carlos mega campus
in the San Francisco Bay Area.
CARGO anticipates occupying the mission-critical life science space
in early 2024.
CARGO, which raised approximately $291 million in its IPO in
November 2023, is a clinical-stage
biotechnology company focused on advancing its platform
technologies and a pipeline of potentially curative,
next-generation cell therapies that could lead to better outcomes
for cancer patients. The company's move to the Alexandria Center
for Life Science – San Carlos mega
campus demonstrates the desirability of Alexandria's mega campus platform as well as
the essential, reusable and re-leasable nature of its best-in-class
Labspace® infrastructure.
The inspiring mega campus was purpose-built to support
innovative life science companies, like CARGO, in their critical
efforts to recruit and retain world-class talent to advance their
life-changing discoveries. In San
Carlos, Alexandria has
created and operates a vibrant ecosystem with state-of-the-art
laboratory space and a highly curated array of amenities, including
sophisticated conference and meeting spaces, an expansive
courtyard, a contemporary eatery, an artisanal coffee bar and a
fully equipped fitness and wellness center. The mega campus, which
is conveniently situated between Highway 101 and the San Carlos
Caltrain station, provides exceptional access to downtown
San Carlos and public transit.
With nearly 737,000 RSF in operation today, the site can
accommodate approximately 1.4 million RSF of future development
opportunities to offer companies a visible path for growth.
![Alexandria Center® for Life Science – San Carlos mega campus. Courtesy of Alexandria Real Estate Equities, Inc. (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Alexandria Center® for Life Science – San Carlos mega campus. Courtesy of Alexandria Real Estate Equities, Inc. (PRNewsfoto/Alexandria Real Estate Equities, Inc.)](https://mma.prnewswire.com/media/2300766/ARE_ACLS_SanCarlos_Exterior.jpg)
![Laboratory space Alexandria Center® for Life Science – San Carlos mega campus at the Courtesy of Alexandria Real Estate Equities, Inc. (PRNewsfoto/Alexandria Real Estate Equities, Inc.) Laboratory space Alexandria Center® for Life Science – San Carlos mega campus at the Courtesy of Alexandria Real Estate Equities, Inc. (PRNewsfoto/Alexandria Real Estate Equities, Inc.)](https://mma.prnewswire.com/media/2300767/ARE_835IndustrialRoad_laboratory.jpg)
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is a best-in-class, mission-driven
life science REIT making a positive and lasting impact on the
world. As the pioneer of the life science real estate niche since
our founding in 1994, Alexandria
is the preeminent and longest-tenured owner, operator and developer
of collaborative life science, agtech and advanced technology mega
campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research Triangle.
Alexandria has a total market
capitalization of $28.3 billion and
an asset base in North America of
75.1 million SF as of September 30,
2023, which includes 41.5 million RSF of operating
properties and 5.6 million RSF of Class A/A+ properties undergoing
construction, 8.9 million RSF of near-term and intermediate-term
development and redevelopment projects and 19.1 million SF of
future development projects. Alexandria has a longstanding and proven track
record of developing Class A/A+ properties clustered in life
science, agtech and advanced technology mega 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,
agrifoodtech, climate innovation and technology companies through
our venture capital platform. 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 on Alexandria, please visit www.are.com.
Forward-Looking Statements
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 impact of CARGO's platform technologies
and curative cell therapies on the lives of cancer patients; the
desirability of Alexandria's mega
campus platform and the essential, reusable and re-leasable nature
of its best-in-class Labspace® infrastructure; CARGO's
ability to recruit and retain world-class talent and advance
life-changing discoveries; and the features and amenities of the
Alexandria Center® for Life Science – San Carlos mega campus. 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, including, without limitation, the
risks and uncertainties detailed in its filings with the Securities
and Exchange Commission. 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 Alexandria's forward-looking statements, and
risks and uncertainties to Alexandria's business in general, please refer
to Alexandria'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, Senior Vice President – Chief Content Officer,
(626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.