PASADENA, Calif., March 16, 2017 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, today announced that S&P Dow Jones Indices will include the company in the S&P 500®, effective prior to the open of trading on Monday, March 20. Alexandria will be added to the S&P GICS Office REITs Sub-Industry index.
"We are incredibly honored to be included in the S&P 500, alongside many of the leading companies in the United States," said Joel S. Marcus, chairman, chief executive officer and founder of Alexandria Real Estate Equities, Inc. "This recognition reflects our best-in-class team's proven track record. Since our founding as a startup in 1994 to this significant milestone, we have successfully executed our differentiated business strategy, which drives the company's very strong operating and financial performance."
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and it is home to iconic financial indicators such as the S&P 500. The S&P 500 is widely regarded as the best single gauge of large-cap U.S. equities and captures approximately 80 percent coverage of available market capitalization.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) 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 $14.2 billion and an asset base in North America of 25.2 million square feet as of December 31, 2016. The asset base in North America includes 19.9 million RSF of operating properties and development and redevelopment of new Class A properties (under construction or pre-construction) and 5.3 million square feet of future ground-up 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 Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its 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. We believe these advantages result 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.
SOURCE Alexandria Real Estate Equities, Inc.