PASADENA, Calif., July 18, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced that it has been selected by NAIOP, the Commercial Real Estate Development Association, as the 2019 Developer of the Year. The award, which is the association's highest honor, will be presented to Alexandria at a ceremony on Wednesday, October 16, 2019, at NAIOP's CRE.Converge conference in Los Angeles.
Since pioneering the life science real estate niche in 1994, Alexandria has evolved from the first mover to the recognized and respected leader in creating unique life science, technology and agtech campuses and vibrant ecosystems that enable the world's leading innovators to develop life-changing scientific and technological breakthroughs that will enhance quality of life. As a mission-driven company that aims to advance human health by creating clusters that enable transformative companies to cure disease and improve nutrition, Alexandria remains steadfast in its commitment to building and operating sustainable, healthy work environments while catalyzing economic activity and supporting the vitality of the communities in which we live and work, and contributing to the world at large.
"At Alexandria, our dedicated team works tirelessly every day to make a better world," said Daniel J. Ryan, co-chief investment officer and San Diego regional market director of Alexandria Real Estate Equities, Inc. "As the first and original innovator in developing highly amenitized campuses in key life science clusters, we create environments that provide peak conditions for employee engagement, productivity and happiness. We also design our campuses to reflect our mission to advance human health and to celebrate the scientific journey toward treatments and cures. We are proud to deliver great design, sustainable outcomes and connected campuses, driven by our mission and a deep thoughtfulness about enhancing our communities, as well as preserving and enhancing value for our stakeholders over the long term. We could not be more honored to receive the NAIOP Developer of the Year award."
Through its prestigious national awards program, NAIOP, the leading organization for developers, owners, investors and related professionals in office, industrial, retail and mixed-use real estate, annually honors the development company that best exemplifies leadership and innovation. Alexandria was chosen from an impressive slate of nominees and was evaluated by a team of seasoned developers on the following criteria: the outstanding quality of projects and services, financial consistency and stability, ability to adapt to market conditions, active support of the industry through NAIOP and support for the local community.
"Alexandria's strategic positioning as the leader in innovative laboratory and office space development, its ability to thrive in changing market conditions and its strong company leadership and long-term financial stability make it a standout in the industry," said Thomas J. Bisacquino, NAIOP president and CEO. "NAIOP is proud to recognize Alexandria Real Estate Equities as the 2019 Developer of the Year."
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million SF as of March 31, 2019. The asset base in North America includes 23.2 million RSF of operating properties and 4.4 million RSF of new Class A properties currently undergoing construction or pre-construction, consisting of 2.1 million RSF of development and redevelopment projects under construction, and 2.3 million RSF undergoing pre-construction activities. Additionally, the asset base in North America includes 6.1 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 more information, 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.