NEW YORK, May 22, 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, will ring The Opening Bell® at the New York Stock Exchange (NYSE) today. The honor marks Alexandria's celebration of its 20th anniversary on the NYSE. Joel S. Marcus, Alexandria's chairman, chief executive officer and founder, will ring The Opening Bell alongside members of the company's board of directors and long-tenured executive management team.
"In reaching its 20th anniversary as an NYSE company, Alexandria has achieved the three outputs that define a great company: Superior Results, Distinctive Impact and Lasting Endurance," said Jim Collins, renowned author and business strategist. "Alexandria's success flows from disciplined focus on what it can be the best in the world at, disciplined insight into what drives its economic engine and people passionate about the company's purpose."
Alexandria, which joined the S&P 500® index in March 2017, is the only publicly traded pure-play office REIT focused on life science and technology campuses in the top urban innovation clusters in the United States. The company continues to pursue its primary business objectives of maximizing long-term asset value and total shareholder return (TSR), while operating as a mission-driven organization. Alexandria achieved a TSR of 1,098% – from the completion of its successful IPO on May 27, 1997, through December 31, 2016 – outperforming various indices, including the FTSE NAREIT Equity Office, the MSCI US REIT, the Russell 2000 and the S&P 500.
"Since our IPO, Alexandria's unique vision and business model has sustained a competitive advantage that sets us apart from all other office REITs," said Mr. Marcus. "It is with great pride, humility and appreciation that we celebrate our tremendous achievements, reflect on our journey and look to the future with confidence. From 12 employees at our IPO to nearly 300 nationwide today, we are incredibly thankful for our dedicated team, which directly impacts our success and upholds our critical mission to enable our innovative tenants to cure disease, end hunger and improve the quality of people's lives."
A live feed of Alexandria ringing the NYSE Opening Bell (9:29 a.m. ET) will be available at https://livestream.com/NYSE.
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 $14.5 billion and an asset base in North America of 28.2 million square feet as of March 31, 2017. The asset base in North America includes 20.1 million RSF of operating properties, including 1.6 million RSF of development and redevelopment of new Class A properties currently undergoing construction. Additionally, the asset base in North America includes 8.1 million SF of future development projects, including 1.5 million SF of near-term projects undergoing marketing for lease and pre-construction activities and 2.0 million SF of other near-term 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.
CONTACT: Joel S. Marcus, Chief Executive Officer, Alexandria Real Estate Equities, Inc./Alexandria Venture Investments, (626) 578-9693
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-to-ring-the-opening-bell-to-celebrate-its-20th-anniversary-as-a-new-york-stock-exchange-listed-reit-300461052.html
SOURCE Alexandria Real Estate Equities, Inc.