At the vanguard and heart of the life science
ecosystem™
With its nearly three-decades-long stellar
track record as the visionary pioneer and creator of the life
science real estate niche, Alexandria has strategically amassed
industry-leading scale with an asset base of over 74 million
square feet in its key cluster markets in North America and cultivated a high-quality
and diverse roster of over 1,000 tenants
NEW
YORK, May 16, 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 it will ring The Opening Bell® at the New
York Stock Exchange (NYSE) this morning in celebration of the
company's 25th anniversary on the NYSE. Alexandria executive chairman and founder,
Joel S. Marcus, will ring the bell,
alongside members of the company's board of directors and
long-tenured executive management team. From its initial public
offering (IPO) in May 1997 through
December 31, 2021, Alexandria has generated a total stockholder
return (TSR) of 2,532%, substantially outperforming the MSCI U.S.
REIT Index TSR of 939% and the FTSE Nareit Equity Office Index TSR
of 552% (assuming reinvestment of dividends).
"We are truly honored and immensely proud to ring the NYSE
Opening Bell to mark this momentous milestone. Our life science
industry is a true national treasure that leads the world in
discovering, translating and advancing groundbreaking therapies and
cures to meet humanity's massive unmet medical need," said Mr.
Marcus. "It is remarkable to reflect on our company's extraordinary
strategic growth from the visionary pioneer of the life science
real estate niche in 1994 to our successful IPO in 1997 to our
position today, having led and transformed the life science real
estate asset class from niche to mainstream. Our people, our
passion and our purpose are the cornerstone of our strong and
sustained operationally excellent performance, which positions us
well for continued growth. We are profoundly grateful to the
Alexandria family team for their
passion for our mission to advance human health, commitment to
exceptionalism and operations at an extremely high tempo, and
trusted relationships with over 1,000 tenants — and we are as
steadfast as ever to supporting the vitally important life science
industry and its lifesaving work, and to making a meaningful
positive impact on our society."
As Alexandria reaches this
major milestone in its over 28-year history, having first
identified the need for and then created the life science real
estate niche, the company remains highly focused on fulfilling its
important mission to create and grow life science ecosystems and
clusters to advance human health while executing its multifaceted
business model to provide long-term value for its stockholders.
Renowned author and business strategist Jim
Collins has said of the company's track record,
"Alexandria has achieved the three
outputs that define a great company: Superior Results, Distinctive
Impact, and Lasting Endurance. 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."
Achieving Superior Results as the Leader in Creating,
Nurturing, Managing, and Growing Life Science Ecosystems
Founded in 1994 as a garage startup with $19 million in Series A capital and a bold vision
to support and drive forward the critically important life science
industry within its key clusters, Alexandria delivers the highly complex
infrastructure and builds the holistic ecosystems needed to
catalyze innovation to advance human health. Today, Alexandria is a highly respected
investment-grade S&P 500® REIT with a total market
capitalization of $42.8 billion as of
March 31, 2022. This extraordinary
growth was accelerated through Alexandria's successful implementation and
expansion of its ecosystem-building and cluster development
strategy as applied to the life science industry. Utilizing Harvard
Business Professor Michael E.
Porter's broad cluster theory as the foundation for its own
cluster model, Alexandria was the
first company to identify the four critical components to create a
successful life science cluster: location, innovation, talent and
capital. For nearly three decades, Alexandria has been effectively creating,
nurturing, managing and growing life science campuses and
ecosystems in the nation's top cluster locations by bringing its
mission-critical real estate together with scientific innovation
across a deep concentration of groundbreaking companies,
world-renowned academic and medical research institutions,
unmatched intellectual talent and ample risk capital.
During 2020 and 2021, in the height of COVID-19 when the
company saw accelerated demand for its world-class mega
campuses and ecosystem-building expertise, the company delivered an
incredible TSR of 45.1%, surpassing by a wide margin the FTSE
Nareit Office Index two-year TSR of -0.5% (assuming reinvestment of
dividends). Coinciding with the record year of Alexandria's financial and operating
performance in 2021 was the company's achievement of multiple
historic milestones. Notably, Alexandria completed the highest annual
leasing volume in company history at 9.5 million RSF. The company's
strong leasing momentum continued in the first quarter of 2022 with
total leasing activity aggregating 2.5 million RSF, the
second-highest quarterly leasing volume in company history.
In 2021, Alexandria earned its
fourth consecutive and sixth overall Nareit Investor CARE Gold
Award in the Large Cap Equity REIT category for superior
shareholder communications and reporting. This distinction, which
represents the most Nareit Investor CARE Gold Awards earned by any
equity REIT, demonstrates the company's superior operational
transparency and reporting practices.
"Alexandria continues to uphold
the highest levels of transparency, integrity and accountability to
the investment community," said Dean A.
Shigenaga, president and chief financial officer of
Alexandria. "Our achievement as a
six-time Gold Award winner is a true testament to our exceptional
team's commitment to excellence in corporate reporting. We take
great pride in our track record in earning this prestigious
recognition."
Mission-Driven Business Model Delivering Distinctive
Impact
Alexandria's noble mission has
shaped its differentiated business model, which is built around the
company's four verticals of real estate, corporate responsibility,
venture investments and thought leadership, to extend the impact of
its essential Labspace® real estate platform. The
company uniquely leverages each of these strategic and integrated
core platforms to catalyze vibrant ecosystems from which solutions
to the most critical challenges facing human health can be
advanced.
As part of its mission-driven ethos, Alexandria has a longstanding record of
environmental, social and governance (ESG) leadership that
continues to benefit its tenants, employees and communities and
increase value for its stockholders over the long term. Key
highlights of the company's latest accomplishments and broad
recognition in ESG include being ranked the #5 most sustainable
REIT in Barron's; earning the first-ever Fitwel Life Science
certification for its continued leadership in prioritizing tenant
health and wellness; and being named a 2021 Global Real Estate
Sustainability Benchmark (GRESB) Global Sector Leader and earning
GRESB's highest 5 Star rating for buildings in development. With
its comprehensive environmental program, Alexandria aims to develop and operate more
efficient, healthier and safer campus environments and buildings,
reduce carbon emissions and manage climate risk. Alexandria's leadership in pioneering
high-performance buildings is exemplified in the development of 325
Binney Street — designed to be the most sustainable laboratory
building in Cambridge — which was
selected by Moderna for its future headquarters and R&D
center.
Deeply committed to developing scalable solutions to address
some of society's most persistent challenges, Alexandria's long-tenured bedrock social
responsibility pillars aim to address disease and other threats to
human health, hunger and food insecurity, the opioid epidemic,
deficiencies in military support services, disparities in
educational opportunities, homelessness and the mental health
crisis, among other areas. One of the most prominent of
Alexandria's social responsibility
initiatives making a tangible impact is the company's partnership
with Verily, an Alphabet company, to create OneFifteen, a
non-profit learning health system dedicated to the full and
sustained recovery of people living with addiction. Alexandria led the design and development of
the state-of-the-art campus in Dayton,
Ohio, which houses a full continuum of care. Since it opened
to patients in the fall of 2019, OneFifteen has seen over 4,500
patients and conducted over 12,950 telehealth visits to make a
positive impact broadly on the way addiction is treated and
specifically on the local Dayton
community.
As a key component of the company's unwavering efforts to
galvanize the ecosystems it builds, Alexandria actively invests in leading-edge
companies that are accelerating novel approaches with the potential
to vastly improve human health. Established in 1996, Alexandria
Venture Investments, the company's strategic venture capital
platform, supports the next generation of disruptive life science
companies and promising agrifoodtech, climate innovation and
technology companies that are advancing transformative new
modalities and platforms to meaningfully impact human health and
nutrition and address climate change.
Finally, through Alexandria's
highly regarded thought leadership platform, the company coalesces
its world-class global life science, agrifoodtech, climate
innovation and healthcare networks for ecosystem-building events
and strategic programming to foster impactful collaborations and
drive innovation across its thriving ecosystems. Since 2011,
Alexandria has led transformative
discussions to stimulate new approaches and innovative changes
aimed at advancing human health, improving nutrition, ending global
hunger and combating climate change.
Visionary Strategy and Disciplined Execution Driving Lasting
Endurance
Through the highly disciplined execution of its visionary
ecosystem-building and cluster development strategy, Alexandria has transformed the novel niche it
pioneered into the mainstream asset class it is today. This
tremendous growth was driven by the company's purposeful evolution
from its original focus on single assets to urban cluster campuses
to mega campuses that consist of approximately 1 million RSF or
more and provide highly curated amenities.
Since Alexandria's IPO 25 years
ago, the company has maintained the highest standards of excellence
to drive long-term value for its stockholders while also making a
lasting positive impact on society. Alexandria's exceptional TSR of 2,532% from
IPO through December 31, 2021,
significantly outperformed various indices over the same period,
including both the MSCI U.S. REIT and the S&P 500 at 939% and
790%, respectively (assuming reinvestment of dividends).
A live feed of Alexandria
ringing the NYSE Opening Bell, which begins at 9:29 a.m. ET, will be available at
https://www.nyse.com/bell.
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
$42.8 billion and an asset base in
North America of 74.2 million SF
as of March 31, 2022. The asset base
in North America includes 41.9
million RSF of operating properties and 5.4 million RSF of Class A
properties undergoing construction, 10.4 million RSF of near-term
and intermediate-term development and redevelopment projects and
16.5 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 the potential impacts of
Alexandria's business model and
operational practices on its performance, its tenants and venture
investments, and the broader life science, agtech and technology
industries. 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 Kabakoff, Vice
President – Communications, (626) 788‑5578,
skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.