PASADENA, Calif., March 2, 2022 /PRNewswire/ -- Alexandria
Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and
the first, longest-tenured and pioneering owner, operator and
developer uniquely focused on collaborative life science, agtech
and technology campuses in AAA innovation cluster locations, today
announced that Bristol Myers Squibb (BMS) has executed a long-term
lease for the development of the global biopharmaceutical company's
newest core R&D facility, an iconic 427,000 RSF world-class
building at Alexandria Point. Located in the heart of the
University Town Center (UTC) submarket in San Diego, Alexandria Point is the company's
first leading-edge, highly sustainable amenity-rich mega
campus.
This historic milestone lease marks the second-largest life
science lease in Alexandria's
history and further enhances its long-term strategic relationship
with BMS. Since 1998, Alexandria
has strategically partnered with BMS to empower its growth and
expansion in the most innovative life science cluster locations
across the country, aggregating over 900,000 RSF across five of
Alexandria's cluster markets,
San Diego, Greater Boston, the San Francisco Bay Area, New York City and Seattle.
"BMS looks forward to bringing our teams across San Diego to work together at our new
innovative research hub," said Rupert
Vessey, executive vice president, Research and Early
Development of Bristol Myers Squibb. "Having a single campus will
accelerate collaboration amongst our company's research teams and
will foster a flexible working ecosystem to further BMS's mission
to advance medicines for patients who need them most."
Alexandria's unique strategic
insight into San Diego's key life
science innovation drivers has enabled the company to establish and
maintain its position at the vanguard of the region's life science
industry since 1994, when, as a newly founded startup company, it
acquired its first laboratory building in Torrey Pines. Today, Alexandria's asset base in the San Diego cluster market approximates 13
million RSF (which includes properties in operation or under
construction, as well as projects under near-term,
intermediate-term or future development and redevelopment as of
December 31, 2021). Additionally, the vital
Labspace® infrastructure, risk capital and thought
leadership Alexandria delivers
across its cluster markets continue to enable the company to
advance its position as a leader in disruptive life science
innovation.
"We are thrilled to continue our important and valued strategic
relationship with Bristol Myers Squibb as an anchor tenant at
Alexandria Point. Our pioneering and collaborative real estate
platform, unparalleled expertise, operational excellence and
best-in-class design and placemaking prowess continue to empower
BMS's expansion in the nation's most innovative markets and,
ultimately, its critical work to discover, develop and deliver
innovative medicines that meet very large unmet needs in human
health," said Daniel J. Ryan,
co-chief investment officer and executive vice president – regional
market director for the San Diego
region. "The new facility's iconic architecture is strategically
designed to drive innovation and inspire collaboration. Designed to
illuminate as a beacon of science, the building's dramatic
five-story interior atrium creatively illustrates the
groundbreaking discoveries taking place within the building while
providing open space and natural light to a beautifully connected
space that is purpose-built to help enable BMS in its
recruitment and retention of top talent."
Upon completion, Alexandria Point will provide over
2 million square feet of mission-critical laboratory and
office space, as well as over 100,000 square feet of amenities. In
addition to the campus's existing suite of amenities, which include
an organic eatery, a best-in-class wellness and fitness center,
state-of-the-art conference space, expansive green space and an
on-site garden, Alexandria plans
to expand the mega campus's unparalleled amenity offerings to
include a large event lawn and an expanded conferencing center to
accommodate a range of tenant needs from intimate group meetings to
large 800-person events. A full-court gymnasium, additional
employee-centric dining options and a rooftop deck with
breathtaking views of the surrounding mountains and Torrey Pines will also be added to the
campus.
Within the campus and in the surrounding community, Alexandria
Point is at the forefront of sustainability initiatives. In
targeting LEED® Gold certification for BMS's new
development, Alexandria continues
to undertake strategic measures to increase energy efficiencies,
mitigate carbon emissions, improve redundancy of systems and remove
demanding operational requirements from its tenants through a
state-of-the-art central plant to be operated by Alexandria. The faceted facade, which is
designed to provide stellar views, also efficiently mitigates solar
heat gain within the building. Alexandria is also working with the regional
government to improve traffic flow and implement sustainable
transportation options through the Alexandria Mobility Initiative
for Greater UTC, which includes plans for an autonomous shuttle
service to the recently completed San Diego Trolley line and
regional COASTER rail line.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® urban office REIT, is the first, longest-tenured
and pioneering owner, operator and developer uniquely focused on
collaborative life science, agtech and technology campuses in
AAA innovation cluster locations, with a total market
capitalization of $44.0 billion as of
December 31, 2021, and an asset base
in North America of 67.0 million
SF. The asset base in North
America includes 38.8 million RSF of operating properties
and 4.8 million RSF of Class A properties undergoing construction,
8.7 million RSF of near-term and intermediate-term development and
redevelopment projects and 14.7 million SF of future development
projects. Founded in 1994, Alexandria pioneered this niche and has since
established a significant market presence in key locations,
including Greater Boston, the
San Francisco Bay Area,
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, agtech 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,
agtech and technology companies through our venture capital
platform. 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.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, without
limitation, statements regarding Alexandria's sustainability goals with respect
to the Alexandria Point campus, including the goals of improving
energy efficiencies and redundancy of systems, removing operational
requirements for tenants, mitigating carbon emissions and solar
heat gain, and receiving LEED certification; the results of working
with the regional government to improve traffic and implement
sustainable transportation options; the expected amenities and
architecture of the Alexandria Point campus; and the impact of the
Alexandria Point campus on BMS's continued growth, goals and
ability to recruit and retain talent. These forward-looking
statements are based on the Company's present intent, beliefs or
expectations, but forward-looking statements are not guaranteed to
occur and may not occur. Actual results may differ materially from
those contained in or implied by the Company's forward-looking
statements as a result of a variety of factors, including, without
limitation, the risks and uncertainties detailed in its filings
with the Securities and Exchange Commission. All forward-looking
statements are made as of the date of this press release, and the
Company assumes no obligation to update this information. For more
discussion relating to risks and uncertainties that could cause
actual results to differ materially from those anticipated in the
Company's forward-looking statements, and risks and uncertainties
to the Company's business in general, please refer to the Company's
filings with the Securities and Exchange Commission, including its
most recent annual report on Form 10-K and any subsequently filed
quarterly reports on Form 10-Q.
CONTACT: Sara Cohen,
Executive Director – Strategic Operations, (626) 788-5584,
scohen@are.com
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SOURCE Alexandria Real Estate Equities, Inc.