Alexandria Real Estate Equities, Inc. Is Leading the Integration of Mission-Critical R&D and Next-Gen Manufacturing for Companies in Research Triangle That Are Developing Targeted Gene and Cell Therapies and Other Complex Medicines
Alexandria's first-in-class development of 100,000 RSF for Beam Therapeutics and redevelopment of 174,000 RSF for Jaguar Gene Therapy reflect the increasing need and the demand by life science companies to establish and expand the integration of internal R&D and manufacturing capabilities in Research Triangle and across Alexandria's core cluster markets
PASADENA, Calif. and DURHAM, N.C., Nov. 16, 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 announced that it is advancing the revolution for complex integrated R&D and next-gen manufacturing in Research Triangle, N.C. through its strategic partnerships with top-tier emerging biotechnology companies, along with its acquisition of purpose-focused development sites in the region, to enable their increased control over the quality of their medicines, patient access, supply chains, and their intellectual property, critical processes and talent.
"We entered the Research Triangle market in 1998, we are incredibly proud today of our position at the vanguard of the life science ecosystem that is leading the integration of R&D with next-gen manufacturing for complex medicines." said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "Highly targeted, complex medicines represent the future of healthcare and increasingly require integrated in-house manufacturing capabilities to bring these novel treatments from bench to patients. Because of the high value involved in the R&D and manufacturing of these complex future medicines, life science companies are increasingly desirous of controlling these mission-critical functions internally rather than outsourcing them, overseas or domestically. As the need for R&D and biomanufacturing infrastructure grows, innovative companies continue to select Alexandria as their partner of choice for our expertise and experience in designing and constructing these complex Class A facilities, and for our reputation for operational excellence and our vision for highly amenitized campuses that support our tenants in attracting and retaining top talent. Through Alexandria's mission-critical infrastructure, we are enabling revolutionary gene therapy companies to produce their medicines in-house and thereby increase their control over their quality, supply chains and talent within the United States."
Based on the confluence of these important factors, Alexandria, the dominant and pioneering life science real estate owner, operator and developer in Research Triangle, has made a series of strategic acquisitions, including the purchase of 95 acres on Cornwallis Road with numerous approved pad sites for build-to-suit biomanufacturing centers directly connected to R&D-focused buildings. To accelerate the development of this campus, branded the Alexandria Center® for NextGen Medicines, Alexandria is moving to the permitting phase of its latest R&D and next-gen manufacturing site approximating 125,000 square feet in this new R&D and biomanufacturing center.
Today, Mr. Marcus will represent Alexandria as a keynote panel member at the Triangle Business Journal's State of RTP (Research Triangle Park) event. He will be joined by other executives from technology, real estate, science and artificial intelligence sectors to discuss opportunities and challenges facing industries in Research Triangle as the region continues to grow.
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 $38.6 billion as of September 30, 2021, and an asset base in North America of 63.9 million SF. The asset base in North America includes 38.7 million RSF of operating properties and 4.3 million RSF of Class A properties undergoing construction, 8.9 million RSF of near-term and intermediate-term development and redevelopment projects and 12.0 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 expected benefits to Alexandria and its tenants and strategic partners of integrating next-gen manufacturing and R&D in Research Triangle. 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: Courtney Mulligan, Senior Director – Communications, (646) 939-7471, [email protected]
SOURCE Alexandria Real Estate Equities, Inc.
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