Alexandria Real Estate Equities, Inc. Celebrates Grand Opening of Adaptive Biotechnologies' New State-of-the-Art Waterfront Headquarters/R&D Facility at 1165 Eastlake in the Thriving Seattle Life Science Cluster

PASADENA, Calif. and SEATTLE, Sept. 21, 2021 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, today celebrates the grand opening of Adaptive Biotechnologies Corporation's new corporate headquarters and state-of-the-art laboratory building, a distinctive, amenity-rich 100,086 RSF property at 1165 Eastlake Avenue East in Seattle. With sweeping views of Lake Union, this ingenious and complex waterfront development represents the culmination of one of the most prominent ground-up developments at The Eastlake Life Science Campus by Alexandria. Adaptive's new headquarters, which supports its work to develop immune-driven diagnostics and medicines that improve patients' lives, has adeptly enabled the commercial-stage biotechnology company to expand in proximity to its mission-critical facilities at 1208 and 1551 Eastlake Avenue East, also owned and operated by Alexandria. Purpose-built for Adaptive, the sustainably designed 1165 Eastlake facility features cutting-edge laboratories and creative office space, as well as a collection of modern amenities—including direct access to water sports, an open-air plaza for gathering and a rooftop deck with vistas of the Space Needle and the Seattle skyline—to enhance the company's collaborative culture and support its key efforts to recruit and retain top talent.

"Alexandria has been a phenomenal partner to us since 2011. Together, we have developed a building that represents a new chapter for Adaptive. It not only meets our current needs but can be scaled with us as our company continues to grow," said Chad Robins, chief executive officer and co-founder of Adaptive Biotechnologies. "From sample processing to data analysis, our new headquarters is truly an end-to-end facility that has been thoughtfully designed to be a place that celebrates our team and inspires our workforce to deliver innovative solutions for our patients and community."

A longtime Alexandria tenant and investment company, Adaptive aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease. In its tireless efforts on the front lines of COVID-19, Adaptive leveraged its powerful immune medicine platform to advance diagnostic and therapeutic solutions for the disease, and in March 2021, the company received an emergency use authorization from the FDA for the first clinical T-cell-based test available in the U.S. to confirm recent or prior COVID infection from blood samples. Additionally, a number of COVID-19 vaccine developers have been utilizing the sequencing and mapping capabilities of Adaptive's immune medicine platform to help measure T-cell response elicited by vaccines, particularly with the increasing presence of new variants. Since the start of the COVID-19 pandemic, Adaptive has nearly doubled its workforce and anticipates continuing its rapid hiring trajectory.

"For the last 25 years, Alexandria has been at the forefront of cultivating and growing the Seattle market from a nascent cluster to a global commercial life science hub that has emerged as a leader in immunology, cell therapy, infectious diseases and the intersection of science and technology. The strength of the Seattle life science ecosystem is reflected in our total asset base in the region, which we've grown to nearly 5 million SF, including future value-creation opportunities, as of June 30, 2021, and we remain steadfast in our efforts to enrich and enhance our trusted partnerships with leading-edge companies—like Adaptive—that are pursuing transformational technologies and therapies to make a difference in the lives of people with various diseases," said John Cox, senior vice president and regional market director of Alexandria Real Estate Equities, Inc. "Adaptive is a highly innovative, visionary company that is working at the convergence of technology and biology. Their understanding of the importance of space as an essential platform to advance their science, as well as their mission and culture, is also very forward thinking. As we usher in a new golden age for biotechnology, we are more committed than ever to supporting Adaptive's efforts to meaningfully impact the future of human health."

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500^® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, with a total market capitalization of $36.3 billion as of June 30, 2021, and an asset base in North America of 58.1 million SF. The asset base in North America includes 36.7 million RSF of operating properties and 3.4 million RSF of Class A properties undergoing construction, 7.7 million RSF of near-term and intermediate-term development and redevelopment projects and 10.3 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, agtech and technology 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, agtech 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 additional 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 potential impacts of a new headquarters on Adaptive's business, its investors, employees and the broader life science industry and the prospects for success of any new technologies on the COVID-19 pandemic, including Adaptive's immune medicine platform. These forward-looking statements are based on the Company'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 the Company'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 the Company 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 the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company'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, Vice President – Communications, (626) 788–5578, [email protected]

SOURCE Alexandria Real Estate Equities, Inc.

Related Links

http://www.are.com