Alexandria Real Estate Equities, Inc. Receives LEED Gold Certification for Biogen Idec Inc.'s Build-to-Suit Headquarters in Cambridge, Massachusetts
PASADENA, Calif., June 2, 2014 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an approximately $9 billion total market capitalization real estate investment trust (REIT) uniquely focused on clustering Class A assets in collaborative science and technology campuses in urban innovation centers, announced today that 225 Binney Street, an approximately 305,000 rentable-square-foot (RSF), world-class, build-to-suit headquarters space fully leased to Biogen Idec Inc. in Cambridge, Massachusetts, has achieved LEED® Gold Certification for Core and Shell from the US Green Building Council (USGBC). LEED, or Leadership in Energy & Environmental Design, recognizes best-in-class, innovative green building strategies, design, and construction practices. By granting this elite designation, the USGBC recognizes 225 Binney Street for its excellence in design, energy consumption, water efficiency, and environmental quality, affirming Alexandria's expertise in developing science and technology campuses at the forefront of sustainability and operational efficiency.
"Alexandria's unparalleled Cambridge team is to be congratulated on this significant milestone," said Joel S. Marcus, Chairman, Chief Executive Officer, and Founder of Alexandria Real Estate Equities, Inc. "As the leading REIT uniquely focused on developing sustainable and collaborative science and technology campuses in AAA locations, Alexandria continues to deliver highly efficient, state-of-the-art facilities designed to support the mission-critical research of our cutting-edge client tenants."
In 2014, Alexandria has continued to advance its leading real estate sustainability platform. To date, Alexandria has 26 LEED certifications encompassing approximately 3.4 million RSF, with another 20 LEED certifications in process totaling an additional approximately 4.4 million RSF. Upon completion of these projects, approximately 50% of Alexandria's total portfolio square footage will be certified.
Beyond LEED certifications, Alexandria seeks to advance the resource efficiency and environmental ecosystem of its facilities to produce the most collaborative, innovative, productive, and sustainable work environments for its client tenants. Initiatives include the implementation of energy optimization projects, ecofriendly transportation amenities, on-site healthy meal choices, fitness centers, and sustainable gardens.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) is the largest and leading REIT uniquely focused on collaborative science and technology campuses in urban innovation clusters, with a total market capitalization of approximately $9 billion as of March 31, 2014, and an asset base of 31.2 million RSF, including 17.7 million RSF of operating and current value-creation projects, as well as an additional 13.5 million RSF in future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in AAA locations including Greater Boston, the San Francisco Bay Area, New York City, Seattle, San Diego, Maryland, and Research Triangle Park. Alexandria is known for its high-quality and diverse client tenant base, with approximately 52% of total Annualized Base Rent resulting from investment-grade client tenants (an industry-leading percentage). Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its client tenants with highly collaborative, 24/7, live/work/play ecosystems, as well as the critical ability to successfully recruit and retain best-in-class talent and enhance productivity. We believe these advantages result 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.
SOURCE Alexandria Real Estate Equities, Inc.