PASADENA, Calif., Feb. 22, 2022 /PRNewswire/ — Alexandria Actual Property Equities, Inc. (NYSE: ARE), an city workplace REIT and the primary, longest-tenured and pioneering proprietor, operator and developer uniquely targeted on collaborative life science, agtech and know-how campuses in AAA innovation cluster places, right this moment introduced that world healthcare chief Eli Lilly and Firm has signed a 334,000 RSF long-term lease for the event of Lilly’s new state-of-the-art Institute for Genetic Medication at 15 Necco Road within the Seaport life science submarket of Larger Boston. For greater than a decade, Alexandria has supplied Lilly with long-term actual property options that at present mixture over 600,000 RSF on campuses throughout the San Diego, San Francisco Bay Space and New York Metropolis cluster places.
Alexandria has been on the vanguard and coronary heart of growing and rising Larger Boston’s life science ecosystem since 1997 via its curation of important infrastructure, capital and thought management. With Alexandria’s roughly 18 million sq. foot strategic asset base in Larger Boston and its confirmed ecosystem-building experience, the corporate is uniquely positioned to proceed to satisfy strong instant demand for its property from probably the most modern and impactful life science firms on the planet whereas offering an vital path to accommodate future development.
“We’re immensely proud that our best-in-class improvement crew continues to design and ship high-quality purpose-built laboratory areas that help our tenants’ relentless efforts to satisfy very giant unmet medical wants and enhance high quality of life for sufferers world wide,” mentioned Peter M. Moglia, co-chief government officer and co-chief funding officer of Alexandria Actual Property Equities, Inc. “15 Necco, designed to be a novel and galvanizing facility, represents a essential piece of our exceptional value-creation pipeline, and we’re thrilled to deliver an anchor tenant to this unparalleled location within the Seaport, the place we’re pioneering a brand new life science submarket.”
15 Necco, developed in partnership with Nationwide Growth, is a extremely sustainable amenity-rich workplace/laboratory improvement that provides a shocking waterfront presence and views of Boston, and will likely be an iconic addition to town’s skyline. The power’s distinctive design is worker centric, prioritizing worker well being and well-being and seamlessly mixing indoor and out of doors areas for occupants to make the most of its waterfront location. Further options embrace a dynamic rooftop deck and out of doors inexperienced terraces with versatile work areas. 15 Necco supplies essential adjacency to Cambridge’s Kendall Sq. and handy entry to main transportation hubs. The constructing’s improvement may also considerably improve the encompassing Fort Level neighborhood with enriched open house alongside Boston’s Harborwalk in addition to public house on the constructing’s floor flooring, which is able to embrace a group landing house, retail locations, wholesome eateries and a public work lounge connecting pedestrians and guests to an expansive waterfront expertise of public artwork, strolling paths, a public dock and programmed out of doors areas adjoining to a deliberate waterfront park.
Designed to attain excessive ranges of vitality effectivity, the transformative improvement will depend on a high-performance constructing envelope, environment friendly mechanical methods, on-site renewable geothermal vitality and a photo voltaic array set up. 15 Necco’s resilient design proactively addresses local weather threat by elevating the constructing construction and elevating web site grades and panorama options above future flood ranges to cut back floodwater pathways and shield the constructing from flood precipitation. The constructing, which is focusing on LEED Gold Core & Shell, Fitwel, WELL and WiredScore Platinum certifications, commenced building in 2021 and is anticipated to ship in late 2023. Lilly has additionally leased 36,000 RSF at 215 First Road, owned and operated by Alexandria, to help the scale-up of its new Institute for Genetic Medication forward of anticipated occupancy at 15 Necco in 2024.
About Alexandria Actual Property Equities, Inc.
Alexandria Actual Property Equities, Inc. (NYSE: ARE), an S&P 500® city workplace REIT, is the primary, longest-tenured and pioneering proprietor, operator and developer uniquely targeted on collaborative life science, agtech and know-how campuses in AAA innovation cluster places, with a complete 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 consists of 38.8 million RSF of working properties and 4.8 million RSF of Class A properties present process building, 8.7 million RSF of near-term and intermediate-term improvement and redevelopment tasks and 14.7 million SF of future improvement tasks. Based in 1994, Alexandria pioneered this area of interest and has since established a major market presence in key places, together with Larger Boston, the San Francisco Bay Space, New York Metropolis, San Diego, Seattle, Maryland and Analysis Triangle. Alexandria has a longstanding and confirmed observe file of growing Class A properties clustered in city life science, agtech and know-how campuses that present our modern tenants with extremely dynamic and collaborative environments that improve their skill to efficiently recruit and retain world-class expertise and encourage productiveness, effectivity, creativity and success. Alexandria additionally supplies strategic capital to transformative life science, agtech and know-how firms via our enterprise capital platform. We imagine our distinctive enterprise mannequin and diligent underwriting guarantee a high-quality and numerous tenant base that ends in larger occupancy ranges, longer lease phrases, larger rental earnings, larger returns and higher long-term asset worth. For extra data on Alexandria, please go to www.are.com.
About Nationwide Growth
For over 30 years, Nationwide Growth has been probably the most energetic actual property funding and improvement corporations in New England. The agency has developed and/or acquired over 30 million SF throughout a broad vary of product sorts, creating nice locations and enticing investments. For extra data, go to natdev.com or observe @nationaldevelop on Twitter and Instagram.
This press launch consists of “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Such forward-looking statements embrace, with out limitation, statements relating to Alexandria’s sustainability targets with respect to the 15 Necco Road constructing and the potential impacts of 15 Necco on town and surrounding neighborhoods. These forward-looking statements are primarily based on the Firm’s current intent, beliefs or expectations, however forward-looking statements will not be assured to happen and should not happen. Precise outcomes could differ materially from these contained in or implied by the Firm’s forward-looking statements because of a wide range of components, together with, with out limitation, the dangers and uncertainties detailed in its filings with the Securities and Trade Fee. All forward-looking statements are made as of the date of this press launch, and the Firm assumes no obligation to replace this data. For extra dialogue regarding dangers and uncertainties that would trigger precise outcomes to vary materially from these anticipated within the Firm’s forward-looking statements, and dangers and uncertainties to the Firm’s enterprise normally, please consult with the Firm’s filings with the Securities and Trade Fee, together with its most up-to-date annual report on Type 10-Okay and any subsequently filed quarterly stories on Type 10-Q.
CONTACT: Sara Kabakoff, Vice President – Communications, (626) 788–5578, [email protected]
SOURCE Alexandria Actual Property Equities, Inc.