PASADENA, Calif., Nov. 21,
2024 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE), the first, preeminent, longest-tenured and
pioneering owner, operator and developer of collaborative mega
campuses in AAA life science innovation cluster locations, today
announced that it executed a 10-year lease with Vaxcyte, Inc., a
clinical-stage biopharmaceutical company working to protect
humankind from the consequences of bacterial diseases, for a total
of 258,581 RSF at 825 Industrial Road on the Alexandria
Center® for Life Science – San Carlos mega campus in the San Francisco Bay Area. The lease includes new
space as well as an extension of the lease term for its existing
space.
Vaxcyte has been an anchor tenant at the Alexandria
Center for Life Science – San
Carlos since it opened in 2021. The company's expansion on
the highly differentiated mega campus with a long-term lease
affirms the Alexandria Center as the flagship destination for life
science innovation in the Mid-Peninsula region. The purpose-built
mega campus features significant options for future growth in
addition to best-in-class essential Labspace®
infrastructure in a compelling location, which offers convenient
access to Highway 101 and walkability to Caltrain, boutique shops
and restaurants, and is sought after by disruptive life science
companies. Alexandria has created
and operates this award-winning mega campus with inspiring design
and people-centered amenities, including cutting-edge conference
and meeting spaces, an expansive courtyard, a contemporary eatery,
an artisanal coffee bar and a fully equipped fitness and wellness
center — all intended to enable its tenants to recruit and retain
the best talent to advance their mission-critical work.
With 739,157 RSF in operation that is 97.4% occupied and
approximately 1.4 million RSF of future development opportunities
as of September 30, 2024, the
Alexandria Center for Life Science – San Carlos is positioned to provide the scale
and flexibility that is crucial to meeting the evolving needs of
leading life science companies as they work to translate scientific
discoveries into the next-generation of life-changing medicines to
benefit patients.
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 with
our founding in 1994, Alexandria
is the preeminent and longest-tenured owner, operator and developer
of collaborative mega campuses in AAA life science innovation
cluster locations, including Greater
Boston, the San Francisco Bay
Area, San Diego,
Seattle, Maryland, Research Triangle and New York City. As of September 30, 2024, Alexandria has a total market capitalization
of $33.1 billion and an asset base in
North America that includes 41.8
million RSF of operating properties, 5.3 million RSF of Class A/A+
properties undergoing construction, and one committed near-term
project expected to commence construction in the next two years.
Alexandria has a longstanding and
proven track record of developing Class A/A+ properties clustered
in 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 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 Alexandria's
impact on its tenants' ability to recruit and retain top talent and
on its tenants' businesses in their pursuit of novel treatments and
cures; the features and amenities of the Alexandria Center for Life
Science – San Carlos mega campus; and Alexandria's ability to continue to attract
life science companies and meet their evolving needs. 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: Joel S.
Marcus, Executive Chairman & Founder,
(626) 578-9693, jmarcus@are.com
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SOURCE Alexandria Real Estate Equities, Inc.