Alexandria Real Estate Equities, Inc. Reaches Historic High in 2Q15 Leasing, Exceeding 1.9 Million RSF

Alexandria's Strong Leasing Continues as Nestle Skin Health Selects the Alexandria Center® for Life Science - New York City Lease for First Innovation Hub

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Alexandria Real Estate Equities, Inc.

Jul 06, 2015, 08:30 ET

PASADENA, Calif., July 6, 2015 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters, announced today its leasing activity for the second quarter of 2015, aggregating in excess of 1.9 million rentable square feet, the highest quarterly leasing volume in the company's 20-year history. The very strong demand for space at Alexandria's unique science and technology campuses reflects the need and growing interest of client tenants to collaborate and translate breakthrough discoveries into high-impact, cost-effective products that save lives, manage disease, and reduce the economic burden of disease on society.

Joel Marcus, Chairman, Chief Executive Officer, and Founder of Alexandria Real Estate Equities, Inc. said, "Alexandria's historic leasing accomplishment demonstrates the significant demand for our urban innovation cluster campuses among the science and technology industries. These highly desirable locations, complemented by cutting-edge amenities, collaborative spaces, and unique services, provide dynamic and engaging environments in which our client tenants can successfully and efficiently drive innovation and results. Congratulations to the entire Alexandria team for reaching such a significant leasing milestone in the company's history."

Nestlé Skin Health, a global leader focused on enhancing quality of life by delivering science-based solutions for the health of skin, hair, and nails, will open its first innovation hub at the Alexandria Center^®for Life Science – New York City as part of a global network of innovation centers known as the Nestlé Skin Health Investigation, Education and Longevity Development (SHIELD) network. Nestlé Skin Health signed a 16-year lease for 30,400 rentable square feet, representing a full floor of office/laboratory space in the West Tower of the Alexandria Center for Life Science, commencing in August 2015. In this transaction, Cushman & Wakefield represented Alexandria and CBRE represented Nestlé Skin Health. Located in the heart of the East Side Medical Corridor, the Alexandria Center for Life Science will provide Nestlé Skin Health with critical proximity to New York City's leading academic, medical, and clinical centers; an unmatched concentration of scientific, clinical, and entrepreneurial talent; as well as sophisticated investment capital in a thriving environment purposefully built for life science collaboration and innovation. Nestlé Skin Health joins an impressive client tenant roster in the Alexandria Center West Tower, including Roche, Intra-Cellular Therapies, Inc.; Cellectis S.A.; Immune Pharmaceuticals, Inc.; Warp Drive Bio, LLC; Lycera Corp.; and Accelerator Corporation. The West Tower is now currently 97.8% leased or under negotiations.

John Cunningham, Senior Vice President, Regional Market Director & Strategic Operations of Alexandria Real Estate Equities, Inc. said, "We are honored that Nestlé Skin Health has chosen the Alexandria Center for Life Science as the flagship innovation hub for its SHIELD network, providing an environment where healthcare professionals will be able to interact with innovative new products and technologies, working toward better solutions for skin health. Nestlé Skin Health's move will drive innovation and create many opportunities for impactful collaborations."

The Alexandria Center for Life Science, developed by Alexandria Real Estate Equities, Inc., is the first and only world-class commercial science park in New York City. The Alexandria Center's East and West Towers are both LEED^® Gold and Platinum Wired certified, exemplifying Alexandria's commitment to developing sustainable and collaborative science and technology campuses while consistently delivering highly efficient, state-of-the-art facilities. The iconic urban campus features a highly collaborative and dynamic environment with creative amenities designed to foster innovation and drive productivity, including Apella^®, a state-of-the-art digital conference center and event space; two outstanding culinary establishments – Riverpark^®, a Tom Colicchio Restaurant, and The Cube, a casual cafe; Riverpark Farm™, an award-winning urban farm that provides produce to Riverpark restaurant; FitLab, Alexandria's first-in-class fitness center with on-site wellness coaches; and more than one acre of waterfront plaza. From multinational pharmaceutical companies including Eli Lilly and Company, Pfizer Inc., and Roche, to entrepreneurial, early-stage companies spinning out of Accelerator Corporation, the Alexandria Center for Life Science has become New York City's leading destination for the most innovative life science entities to translate novel discoveries into breakthrough products for patients with significant unmet medical needs.

About Alexandria Real Estate Equities, Inc. (NYSE: ARE)

Alexandria Real Estate Equities, Inc. is the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters located in key cities, with a total market capitalization of $11.3 billion as of March 31, 2015, and an asset base of 30.7 million square feet, including 18.5 million RSF of operating and current value-creation projects, as well as an additional 2.2 million square feet of near-term and 10.0 million square feet of future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in AAA locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle Park. Alexandria is known for its high-quality and diverse client tenant base, with approximately 52% of total annualized base rent as of March 31, 2015, generated from investment-grade client tenants – a REIT industry-leading percentage. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its innovative client 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.