Alexandria Real Estate Equities, Inc. Awarded Nareit's 2017 "Most Innovative" Leader in the Light Sustainability Award
Nov 15, 2017, 15:10 ET
PASADENA, Calif. and DALLAS, Nov. 15, 2017 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, today announced that it was selected as a joint winner of Nareit's 2017 "Most Innovative" Leader in the Light Award—the highest achievement in sustainability innovation for all office REITs and real estate companies. The award was presented at a ceremony held today at REITworld, Nareit's 2017 Annual Convention, in Dallas, Texas.
Nareit's annual Leader in the Light Awards honor Nareit member companies that have demonstrated superior and longstanding sustainability practices. Alexandria was chosen by an independent panel of judges based on factors such as its performance in the Global Real Estate Sustainability Benchmark (GRESB)—which includes a "Green Star" designation and a #1 ranking in the U.S. in the GRESB Health & Well-being Module—and its 5 percent reduction in greenhouse gas pollution from 2015 to 2016, which is more than twice the global average reduction of the companies and funds that reported to GRESB in 2017. Alexandria's leadership as the first REIT to be named a First-in-Class Fitwel Champion for promoting health and wellness in the workplace and the first company of any kind to earn Fitwel building certifications also contributed to its selection.
"We are honored to receive this important recognition from Nareit, which affirms the successful execution and enhancement of our comprehensive and innovative sustainability strategy," said Dean A. Shigenaga, chief financial officer of Alexandria Real Estate Equities, Inc., who accepted the award on behalf of the company. "Through these efforts, we strive to make a meaningful impact on the health, safety and well-being of our tenants, employees and communities, and to create long-term value for our shareholders."
"We are extremely proud of this achievement, and we continue to enhance our sustainability programming and practices, which meet, exceed and anticipate the needs of our stakeholders and position us for near- and long-term success," added Ari Frankel, assistant vice president of sustainability and high-performance buildings at Alexandria Real Estate Equities, Inc., who jointly accepted the award on Alexandria's behalf.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $16.1 billion and an asset base in North America of 28.6 million square feet, as of September 30, 2017. The asset base in North America includes 20.6 million RSF of operating properties, including 1.5 million RSF of development and redevelopment of new Class A properties currently undergoing construction. Additionally, the asset base in North America includes 8.0 million SF of future development projects, including 1.1 million SF of near-term projects undergoing marketing for lease and pre-construction activities and 3.3 million SF of intermediate-term development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its 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. We believe these advantages 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.
CONTACT: Joel S. Marcus, Chief Executive Officer, Alexandria Real Estate Equities, Inc., (626) 578-9693
SOURCE Alexandria Real Estate Equities, Inc.