Genomatica, Inc., Award-Winning Industrial Biotechnology Pioneer, Selects Alexandria Real Estate Equities, Inc. for Long-Term, Mission-Critical R&D Facility and Corporate Headquarters Genomatica Lease Represents Alexandria's Thirteenth Recent Lease Transaction with a Strong 95.2% Occupied San Diego Asset Base
PASADENA, Calif., Nov. 12, 2012 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the leading owner, operator, and developer of high-quality, sustainable real estate for the broad and diverse science industry, is pleased to announce a 10-year lease transaction with Genomatica, Inc., the rising star of the industrial biotechnology sector. Genomatica has garnered such prestigious accolades as 2012 winner of the respected Wall Street Journal Technology Innovation Award in the Materials category, Number 1 in the 2012-13 "30 Hottest Companies in Renewable Chemicals and Biobased Materials" rankings by Biofuels Digest for the second consecutive year, and recipient of the top honor in green chemistry, the Environmental Protection Agency's Presidential Green Chemistry Challenge Award.
Genomatica is relocating from its existing Wateridge Summit facility to Alexandria's ARE Esplanade campus in University Town Center, where it will fully occupy an approximately 68,000-square-foot facility that Alexandria is currently redeveloping and expects to deliver in September 2013. ARE Esplanade is a one-of-a-kind, sustainable science campus that will feature a unique pedestrian esplanade, a creative eatery with organic offerings, and state-of-the-art meeting spaces for collaboration. Genomatica's decision to relocate to ARE Esplanade affirms Alexandria's leading brand, which is a direct result of its prime adjacency locations, innovative campus environments, fully-integrated regional team, unparalleled network, and operational excellence in the San Diego science cluster.
"We are extremely honored that Genomatica, a world-class industrial biotechnology company, has chosen our ARE Esplanade campus as their long-term home," said Daniel J. Ryan, Executive Vice President and Regional Market Director at Alexandria. "We are appreciative of the teamwork, passion, and determination shown by the leadership team of Genomatica and are proud to include them in our blue-chip, best-in-class client tenant network."
Genomatica, which is developing cost-effective bio-based manufacturing processes to convert renewable feedstocks into numerous high-volume intermediate and basic chemicals, is part of a growing industrial biotechnology sector in San Diego. Given its premier research institutions, robust network of entrepreneurial thought leaders, and culture of innovation, San Diego has emerged as a leading cluster for industrial biotechnology fields ranging from renewable chemicals to industrial enzymes to biofuels. As landlord of choice to this burgeoning sector, Alexandria has successfully consummated approximately 206,000-square-feet of leases with first-class industrial biotechnology companies including Verenium Corporation and Sapphire Energy, Inc.
"Alexandria's leasing success in San Diego is unparalleled," said Joel S. Marcus, Chairman, Chief Executive Officer, and Founder of Alexandria. "From the second quarter of 2010 through the third quarter of this year, Alexandria has leased approximately 1,666,000-square-feet in San Diego, which is more than four times any other life science landlord. Alexandria has continued this longstanding tradition of leasing excellence in San Diego with over 340,000-square-feet leased year-to-date, thus solidifying its leading brand in this world-class cluster."
Alexandria has leased approximately 340,000-square-feet year-to-date, including the following key recent lease transactions:
- California Institute for Biomedical Research, a newly established, not-for-profit organization founded by world-renowned researcher and entrepreneur, Peter G. Schultz, Ph.D., with funding from Merck & Co., Inc. to accelerate the translation of basic biomedical research into innovative new medicines, executed a new lease for approximately 25,000-square-feet at ARE Arenisca in Torrey Pines.
- Illumina, Inc., a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function, executed a lease for an additional approximately 23,000-square-feet on its 474,000-square-foot world-class science campus with Alexandria. Alexandria acquired this flagship campus in University Town Center from Biogen Idec, Inc. in October 2010 and fully leased it to Illumina within 90 days of acquisition.
- Organovo Holdings, Inc. executed a new lease for approximately 16,000-square-feet at ARE Portola in Alexandria's Sorrento submarket. Organovo designs and creates functional human tissues and disease models for medical research and therapeutic applications using its proprietary three dimensional bioprinting technology.
- PaxVax, Inc., an innovative vaccine company focused on developing and commercializing vaccines against infectious diseases, executed an approximately 18,000-square-foot lease at Alexandria's 3985 Sorrento Valley Boulevard facility.
- Pharmatek Laboratories Inc. is a premier contract development and manufacturing organization providing full-service pharmaceutical chemistry product development for the biotech and pharmaceutical industries. Pharmatek renewed its approximately 52,000-square-foot lease and expanded with an additional approximately 7,000-square-feet of laboratory/office space at 7330 Carroll Road in Alexandria's Sorrento submarket.
- Shire plc, a specialty biopharmaceutical company focused on therapeutics for attention deficit and hyperactivity disorder, gastrointestinal diseases, human genetic therapies, regenerative medicine, and other therapeutic areas, executed an approximately 36,000-square-foot renewal and expansion at 10931/10933 North Torrey Pines Road.
- Tandem Diabetes Care, Inc., a medical device company developing novel technologies for diabetes management including its recently launched touch-screen insulin pump, executed an approximately 66,000-square-foot renewal and expansion at Alexandria's 11025/11035/11045 Roselle Street facility in Sorrento.
Alexandria pioneered the life science real estate niche in San Diego in 1994, when it acquired its first assets in the heart of the Torrey Pines submarket. With prime AAA-locations in the first-class submarkets of Torrey Pines, University Town Center, and Sorrento, Alexandria has maintained its leadership position by developing innovative campuses and Class-A facilities that are designed at the forefront of artistry, creativity, collaboration, and livability. Throughout its San Diego asset base, Alexandria creates unique 'work-style' environments including state-of-the-art fitness centers with cutting-edge equipment; comprehensive wellness programs featuring personal training, group training, nutrition, and physical therapy; creative meeting and event spaces designed to foster convergence among San Diego's life science community; and shared outdoor spaces for collaboration, providing client tenants with a unique competitive advantage in recruiting and retaining the highest quality scientific talent, as well as driving productivity and efficiency.
Alexandria is also the industry leader of sustainable life science real estate. Alexandria's efficient operations expertise and state-of-the-art facilities help client tenants decrease operating costs, reduce utility consumption, and improve the environment.
Alexandria is the largest life science owner, operator, and developer in San Diego with approximately 2.8 million square feet of high-quality laboratory/office campuses in prime locations adjacent to San Diego's world-renowned research institutions including the Salk Institute for Biological Studies, Sanford-Burnham Medical Research Institute, The Scripps Research Institute, and University of California, San Diego. As of September 30, 2012, approximately 67% of Alexandria's annualized base rent in San Diego came from high-credit client tenants with investment grade ratings or an equity market capitalization over three billion dollars. Alexandria's high-quality client tenants in San Diego include Bristol-Myers Squibb Company, Celgene Corporation, Eli Lilly and Company, Laboratory Corporation of America, Novartis AG, Sanford-Burnham Medical Research Institute, and The Scripps Research Institute.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), a self-administered and self-managed real estate investment trust (REIT), is the largest and leading investment-grade REIT focused principally on owning, operating and developing high-quality, sustainable real estate for the broad and diverse life science industry. Founded in 1994, Alexandria was the first REIT to identify and pursue the laboratory niche and has since had the first-mover advantage in every core life science cluster location including Greater Boston, San Francisco Bay, San Diego, New York City, Seattle, Suburban Washington, D.C., and Research Triangle Park. Alexandria's high-credit client tenants span the life science industry, including renowned academic and medical institutions, multinational pharmaceutical companies, public and private biotechnology entities, U.S. government research agencies, medical device companies, clean technology companies, venture capitalists, and life science product and service companies. As the recognized real estate partner of the life science industry, Alexandria has a superior track record in driving client tenant productivity and innovation through its best-in-class laboratory and office space, collaborative locations adjacent to leading academic and medical institutions, unparalleled life science real estate expertise and services, and longstanding and expansive network in the life science community, which we believe result 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 contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in our Annual Report on Form 10-K and our other periodic reports filed with the Securities and Exchange Commission.
SOURCE Alexandria Real Estate Equities, Inc.