Alexandria Real Estate Equities, Inc. Announces Long-Term 165,940 RSF, Full-Building Lease With Novo Nordisk for R&D Center at the Alexandria Center for Life Science - Waltham Mega Campus in Greater Boston

PASADENA, Calif., Dec. 15, 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 Novo Nordisk, a leading global healthcare company, has executed a long-term full-building lease at 60 Sylvan Road for 165,940 RSF to anchor the Alexandria Center^® for Life Science – Waltham¹ mega campus in Greater Boston. 60 Sylvan Road is an active redevelopment project and is expected to deliver to Novo Nordisk in 2025.

Designed to help attract and retain top talent and enhance innovation and efficiency, the 1.5 million RSF Alexandria Center for Life Science – Waltham mega campus is highly differentiated in the Route 128 submarket with inspiring design, curated placemaking and unmatched scale. Alexandria is activating and enhancing the mega campus with an exceptional suite of amenities, including flexible conference and meeting space, an expansive central lawn, collaboration pods, a casual café, a fitness and wellness center, outdoor biking and walking paths and a vertical farm. The campus is conveniently located in proximity to world-renowned academic medical centers, as well as Cambridge, downtown Boston and Logan International Airport.

¹  The Alexandria Center^® for Life Science – Waltham mega campus includes 40, 50 and 60 Sylvan Road, 35 Gatehouse Drive and 840 Winter Street.

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 Alexandria's campus on Novo Nordisk's ability to attract and retain top talent and enhance innovation and efficiency; and the features and amenities of the Alexandria Center^® for Life Science – Waltham 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, [email protected]

SOURCE Alexandria Real Estate Equities, Inc.