PASADENA, Calif., April 1, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation clusters, today announced the launch of new strategic agtech business initiatives to provide much-needed infrastructure and capital to the rapidly growing agricultural technology (agtech) industry and address the challenge of advancing human health by improving nutrition. Alexandria's timely launch includes the opening of the Alexandria Center® for AgTech – Research Triangle, the country's first and only integrated multi-tenant, amenity-rich agtech R&D and greenhouse campus, located in North Carolina. The campus opens with a fully leased first phase, a 175,000 RSF redevelopment at 5 Laboratory Drive in the heart of the Research Triangle, the most important, dense and diverse agtech cluster in the United States. The company has already initiated development of the campus's second phase, a 160,000 RSF property at 9 Laboratory Drive, further expanding the office/laboratory and greenhouse space at the Alexandria Center for AgTech. Construction and pre-leasing of this future value-creation development project are underway with expected delivery in 2020.
"Our mission is to create ecosystems and clusters that foster transformational discoveries to advance human health by fighting disease and improving nutrition," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "We have spent the past 25 years creating and growing unique life science clusters that support trailblazing companies in the crucial fight to treat and cure disease. Now is the time to be at the vanguard of coalescing and growing this agtech cluster. Last year, we experienced a dramatic surge in capital invested in the agtech industry, with global venture capital funding up more than 40% to nearly $17 billion. Advances in precision farming, crop protection, gene editing, artificial intelligence, machine learning and the microbiome aim to revolutionize our food system from farm to table. We are deeply focused on providing mission-critical infrastructure, strategic venture capital and impactful thought leadership to facilitate the breakthrough innovations that are vital to improving nutrition; ensuring a sustainable, accessible, cost-effective global food supply; and ultimately advancing human health."
The Alexandria Center for AgTech is currently home to a broad ecosystem of high-quality entities, ranging from global to emerging agricultural companies, including Arysta LifeScience Inc., Boragen, Inc., Elo Life Systems, Inc., GreenLight Biosciences, Inc., Indigo Ag, Inc. and Syngenta Crop Protection, LLC. To support the discovery and development of agtech innovations and provide a dynamic environment that enables companies to attract and retain top talent, this high-tech R&D and greenhouse campus has been designed to be highly collaborative and includes modern amenities such as a state-of-the-art conference and event space and fully equipped fitness center, and plans for a healthy all-day café and specialty coffee bar. The 5 Laboratory Drive building features highly adaptable and unique spaces, including a multifunctional, vibrant lobby designed to serve as a place for informal collisions and meetings, as well as community and industry events.
"The global food system must address environmental, population, urbanization and human nutrition challenges through the assimilation and imaginative application of multidisciplinary technologies," said John Dombrosky, senior vice president – AgTech at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "We are introducing two new proprietary platforms, Alexandria LaunchLabs® – AgTech and its complementary agtech-focused Alexandria Seed Capital platform, to provide highly flexible turnkey laboratory, office and greenhouse space, supercharged entrepreneurial support, strategic programming and access to risk capital aimed at fostering the next generation of leading agtech companies to enable better nutrition and human health."
Alexandria LaunchLabs – AgTech, located at the Alexandra Center for AgTech, is the premier, full-service startup platform designed to dramatically accelerate the growth of early-stage agtech companies. Alexandria LaunchLabs – AgTech provides its member companies with move-in-ready office/laboratory and greenhouse space. Additional membership offerings include first-class support resources, shared equipment and plant growth chambers, strategic programming and mentoring, a highly experienced on-site operations team and access to seed capital through the Alexandria Seed Capital Platform – AgTech, an innovative funding model catalyzing investments in seed-stage companies. Alexandria LaunchLabs – AgTech is currently accepting applications for members. For more information or to apply, please visit www.alexandrialaunchlabs.com.
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 $18.4 billion and an asset base in North America of 33.1 million SF as of December 31, 2018. The asset base in North America includes 22.4 million RSF of operating properties and 3.9 million RSF of development and redevelopment of new Class A properties currently undergoing construction and pre-construction activities with target delivery dates ranging from 2019 through 2020. Additionally, the asset base in North America includes 6.8 million SF of intermediate-term and future 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. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science 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 and technology companies through our venture capital arm. 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.
CONTACT: Sara Kabakoff, AVP – Corporate Communications, Alexandria Real Estate Equities, Inc., (626) 788‑5578
SOURCE Alexandria Real Estate Equities, Inc.