Alexandria Real Estate Equities, Inc., Along with Mayor Edward Murray, Celebrates New Headquarters and R&D Center for Juno Therapeutics, Inc. in a Groundbreaking Ceremony in the Lake Union Cluster of Seattle, Washington
Jun 16, 2015, 04:05 ET
PASADENA, Calif., June 16, 2015 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE:ARE), the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters, hosted a groundbreaking for Juno Therapeutics, Inc. at the Alexandria Center at 400 Dexter Avenue North in Seattle, WA, for Juno's new Headquarters and R&D Center, situated in the heart of the vibrant Lake Union cluster. Lake Union is one of the fastest growing science and technology submarkets. Today, Alexandria is developing an approximately 287,000 square foot state-of-the-art laboratory/office building, which Juno will anchor. Juno is leasing 90,000 square feet with expansion options.
Joel Marcus, Chairman, Chief Executive Officer and Founder of Alexandria Real Estate Equities, Inc., hosted the groundbreaking ceremony and highlighted the collaborative undertaking that brought this important project to fruition. Marcus was joined onstage by the Honorable Edward B. Murray – Mayor of Seattle, Maura Little – Washington State Director of Life Sciences and Global Health Development and representative for Governor Jay Inslee at the groundbreaking, Chris Rivera - President and Chief Executive Officer of the Washington Biotechnology and Biomedical Association, Robert Nelsen – Co-Founder and Managing Director of Seattle ARCH Venture Partners, and Hans Bishop – Chief Executive Officer and President of Juno Therapeutics, Inc. "Today we celebrate the groundbreaking for Juno's Headquarters and R&D Center. At Alexandria, we are honored to strategically partner with Juno, which is pursuing work in the field of cancer immunotherapy which is destined to change the face of cancer treatment. Juno is a leader in one of the most promising technologies in the field of cancer immunotherapy. We are creating an innovative and collaborative space environment for Juno and its fast growing workforce, which will enhance creativity and discovery. Alexandria and Juno have had a special relationship, and we look forward to continuing to work together to realize the promise of bringing such treatments and cures to cancer patients everywhere."
The State of Washington has supported this project with Alexandria and Juno from the very beginning. Governor of Washington State, Jay Inslee, said, "Today's groundbreaking signifies a strengthening of our state's local life science sector. We are a state that is known for its innovation, and the individuals working with Juno have proven that innovation is thriving in Washington State. Congratulations to Juno and its many partners. I look forward to working with this team as an anchor tenant in our community and establishing our state as the global leader in life science innovation and health delivery."
Seattle is home to a cluster of high-caliber, world-class academic and medical centers, foundations, and innovative companies including Amazon, the University of Washington Medical School, the Fred Hutchinson Cancer Research Center, and more. Many of these institutions are focused on global health initiatives and innovative oncology development. The city played an important role in turning this idea into a reality, especially through the unwavering dedication of the Mayor and the Department of Planning and Development. "The groundbreaking of Juno Therapeutics' new headquarters with Alexandria underscores Seattle's standing as a global hub for biotechnology and life sciences," said Seattle Mayor Edward B. Murray. "Juno is leading the charge in the revolutionary space of immunotherapy and offers new promise for many cancer patients. I am proud that Seattle will be Juno's home for years to come."
Robert Nelsen, Co-Founder and Managing Director of Seattle ARCH Venture Partners, shared Juno's founding history, and the importance of Juno choosing Seattle as the location for its new Headquarters and R&D Center. He said, "Hats off to Seattle's most valuable biotech, the fastest growing biotech in U.S. history...creating jobs, putting down long-term roots, and most importantly, curing cancer."
Juno, one of the fastest growing, leading-edge biopharmaceutical companies, is developing a new platform for cell-based cancer CAR-T and TCR immunotherapies. Juno hopes to change the course of cancer therapy with its innovative breakthroughs. Hans Bishop, Chief Executive Officer and President of Juno, expressed his strategic vision at the groundbreaking ceremony with Alexandria today, and shared the inspiring work that Juno is accomplishing. "We are delighted to be breaking ground for the new headquarters building for Juno Therapeutics here in the Lake Union neighborhood of Seattle, where we plan to continue our work of re-engaging the body's immune system to revolutionize the treatment of cancer, in partnership with state and local leaders who are committed to strengthening the region's life sciences ecosystem with investments in STEM education, transportation, and our research institutions."
Photo - http://photos.prnewswire.com/prnh/20150616/223547
Rendering of The Alexandria Center at 400 Dexter. Credit Collins Woerman.
About Juno Therapeutics (Nasdaq:JUNO)
Juno Therapeutics is building a fully integrated biopharmaceutical company focused on revolutionizing medicine by re-engaging the body's immune system to treat cancer. Founded on the vision that the use of human cells as therapeutic entities will drive one of the next important phases in medicine, Juno is developing cell-based cancer immunotherapies based on chimeric antigen receptor and high-affinity T cell receptor technologies to genetically engineer T cells to recognize and kill cancer. Juno is developing multiple cell-based product candidates to treat a variety of B-cell malignancies as well as solid tumors. Several product candidates have shown compelling evidence of tumor shrinkage in the clinical trials in refractory leukemia and lymphoma conducted to date. Juno's long-term aim is to improve and leverage its cell-based platform to develop new product candidates that address a broader range of cancers and human diseases. Juno brings together innovative technologies from some of the world's leading research institutions, including the Fred Hutchinson Cancer Research Center, Memorial Sloan Kettering Cancer Center, Seattle Children's Research Institute, and The National Cancer Institute.
About Alexandria Real Estate Equities, Inc. (NYSE:ARE)
Alexandria Real Estate Equities, Inc., is the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters located in key cities, with a total market capitalization of $11.3 billion as of March 31, 2015, and an asset base of 30.7 million square feet, including 18.5 million RSF of operating and current value-creation projects, as well as an additional 2.2 million square feet of near-term and 10.0 million square feet of 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, San Diego, Seattle, 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 as of March 31, 2015, generated from investment-grade client tenants – a REIT 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 innovative client 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. Management believes these advantages result in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.
SOURCE Alexandria Real Estate Equities, Inc.
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