Genomatica, Inc., Award-Winning Industrial Biotechnology Pioneer,
Selects Alexandria Real Estate Equities, Inc. for Long-Term,
Mission-Critical R&D Facility and Corporate Headquarters
PASADENA, Calif., Nov. 12, 2012 /PRNewswire/ -- Alexandria
Real Estate Equities, Inc. (NYSE: ARE), the leading owner,
operator, and developer of high-quality, sustainable real estate
for the broad and diverse science industry, is pleased to announce
a 10-year lease transaction with Genomatica, Inc., the rising star
of the industrial biotechnology sector. Genomatica has garnered
such prestigious accolades as 2012 winner of the respected Wall
Street Journal Technology Innovation Award in the Materials
category, Number 1 in the 2012-13 "30 Hottest Companies in
Renewable Chemicals and Biobased Materials" rankings by Biofuels
Digest for the second consecutive year, and recipient of the
top honor in green chemistry, the Environmental Protection Agency's
Presidential Green Chemistry Challenge Award.
Genomatica is relocating from its existing Wateridge Summit
facility to Alexandria's ARE
Esplanade campus in University Town Center, where it will fully
occupy an approximately 68,000-square-foot facility that
Alexandria is currently
redeveloping and expects to deliver in September 2013. ARE Esplanade is a one-of-a-kind,
sustainable science campus that will feature a unique pedestrian
esplanade, a creative eatery with organic offerings, and
state-of-the-art meeting spaces for collaboration. Genomatica's
decision to relocate to ARE Esplanade affirms Alexandria's leading brand, which is a direct
result of its prime adjacency locations, innovative campus
environments, fully-integrated regional team, unparalleled network,
and operational excellence in the San
Diego science cluster.
"We are extremely honored that Genomatica, a world-class
industrial biotechnology company, has chosen our ARE Esplanade
campus as their long-term home," said Daniel J. Ryan, Executive Vice President and
Regional Market Director at Alexandria. "We are appreciative of the
teamwork, passion, and determination shown by the leadership team
of Genomatica and are proud to include them in our blue-chip,
best-in-class client tenant network."
Genomatica, which is developing cost-effective bio-based
manufacturing processes to convert renewable feedstocks into
numerous high-volume intermediate and basic chemicals, is part of a
growing industrial biotechnology sector in San Diego. Given its premier research
institutions, robust network of entrepreneurial thought leaders,
and culture of innovation, San
Diego has emerged as a leading cluster for industrial
biotechnology fields ranging from renewable chemicals to industrial
enzymes to biofuels. As landlord of choice to this burgeoning
sector, Alexandria has
successfully consummated approximately 206,000-square-feet of
leases with first-class industrial biotechnology companies
including Verenium Corporation and Sapphire Energy, Inc.
"Alexandria's leasing success
in San Diego is unparalleled,"
said Joel S. Marcus, Chairman, Chief
Executive Officer, and Founder of Alexandria. "From the second quarter of 2010
through the third quarter of this year, Alexandria has leased approximately
1,666,000-square-feet in San
Diego, which is more than four times any other life science
landlord. Alexandria has continued
this longstanding tradition of leasing excellence in San Diego with over 340,000-square-feet leased
year-to-date, thus solidifying its leading brand in this
world-class cluster."
Alexandria has leased
approximately 340,000-square-feet year-to-date, including the
following key recent lease transactions:
- California Institute for Biomedical Research, a newly
established, not-for-profit organization founded by world-renowned
researcher and entrepreneur, Peter G.
Schultz, Ph.D., with funding from Merck & Co., Inc. to
accelerate the translation of basic biomedical research into
innovative new medicines, executed a new lease for approximately
25,000-square-feet at ARE Arenisca in Torrey Pines.
- Illumina, Inc., a leading developer, manufacturer, and marketer
of life science tools and integrated systems for large-scale
analysis of genetic variation and function, executed a lease for an
additional approximately 23,000-square-feet on its
474,000-square-foot world-class science campus with Alexandria. Alexandria acquired this flagship campus in
University Town Center from Biogen Idec, Inc. in October 2010 and fully leased it to Illumina
within 90 days of acquisition.
- Organovo Holdings, Inc. executed a new lease for approximately
16,000-square-feet at ARE Portola in Alexandria's Sorrento submarket. Organovo
designs and creates functional human tissues and disease models for
medical research and therapeutic applications using its proprietary
three dimensional bioprinting technology.
- PaxVax, Inc., an innovative vaccine company focused on
developing and commercializing vaccines against infectious
diseases, executed an approximately 18,000-square-foot lease at
Alexandria's 3985 Sorrento Valley
Boulevard facility.
- Pharmatek Laboratories Inc. is a premier contract development
and manufacturing organization providing full-service
pharmaceutical chemistry product development for the biotech and
pharmaceutical industries. Pharmatek renewed its approximately
52,000-square-foot lease and expanded with an additional
approximately 7,000-square-feet of laboratory/office space at 7330
Carroll Road in Alexandria's
Sorrento submarket.
- Shire plc, a specialty biopharmaceutical company focused on
therapeutics for attention deficit and hyperactivity disorder,
gastrointestinal diseases, human genetic therapies, regenerative
medicine, and other therapeutic areas, executed an approximately
36,000-square-foot renewal and expansion at 10931/10933 North
Torrey Pines Road.
- Tandem Diabetes Care, Inc., a medical device company developing
novel technologies for diabetes management including its recently
launched touch-screen insulin pump, executed an approximately
66,000-square-foot renewal and expansion at Alexandria's 11025/11035/11045 Roselle Street
facility in Sorrento.
Alexandria pioneered the life
science real estate niche in San
Diego in 1994, when it acquired its first assets in the
heart of the Torrey Pines
submarket. With prime AAA-locations in the first-class submarkets
of Torrey Pines, University Town
Center, and Sorrento, Alexandria
has maintained its leadership position by developing innovative
campuses and Class-A facilities that are designed at the forefront
of artistry, creativity, collaboration, and livability. Throughout
its San Diego asset base,
Alexandria creates unique
'work-style' environments including state-of-the-art fitness
centers with cutting-edge equipment; comprehensive wellness
programs featuring personal training, group training, nutrition,
and physical therapy; creative meeting and event spaces designed to
foster convergence among San
Diego's life science community; and shared outdoor spaces
for collaboration, providing client tenants with a unique
competitive advantage in recruiting and retaining the highest
quality scientific talent, as well as driving productivity and
efficiency.
Alexandria is also the industry
leader of sustainable life science real estate. Alexandria's efficient operations expertise
and state-of-the-art facilities help client tenants decrease
operating costs, reduce utility consumption, and improve the
environment.
Alexandria is the largest life
science owner, operator, and developer in San Diego with approximately 2.8 million
square feet of high-quality laboratory/office campuses in prime
locations adjacent to San Diego's
world-renowned research institutions including the Salk Institute
for Biological Studies, Sanford-Burnham Medical Research Institute,
The Scripps Research Institute, and
University of California, San Diego. As
of September 30, 2012, approximately
67% of Alexandria's annualized
base rent in San Diego came from
high-credit client tenants with investment grade ratings or an
equity market capitalization over three
billion dollars. Alexandria's high-quality client tenants in
San Diego include Bristol-Myers
Squibb Company, Celgene Corporation, Eli Lilly and Company,
Laboratory Corporation of America, Novartis AG, Sanford-Burnham
Medical Research Institute, and The Scripps
Research Institute.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), a
self-administered and self-managed real estate investment trust
(REIT), is the largest and leading investment-grade REIT focused
principally on owning, operating and developing high-quality,
sustainable real estate for the broad and diverse life science
industry. Founded in 1994, Alexandria was the first REIT to identify and
pursue the laboratory niche and has since had the first-mover
advantage in every core life science cluster location including
Greater Boston, San Francisco Bay,
San Diego, New York City, Seattle, Suburban Washington, D.C., and Research Triangle Park.
Alexandria's high-credit client
tenants span the life science industry, including renowned academic
and medical institutions, multinational pharmaceutical companies,
public and private biotechnology entities, U.S. government research
agencies, medical device companies, clean technology companies,
venture capitalists, and life science product and service
companies. As the recognized real estate partner of the life
science industry, Alexandria has a
superior track record in driving client tenant productivity and
innovation through its best-in-class laboratory and office space,
collaborative locations adjacent to leading academic and medical
institutions, unparalleled life science real estate expertise and
services, and longstanding and expansive network in the life
science community, which we believe 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.
This press release contains forward-looking statements within
the meaning of the federal securities laws. Actual results
may differ materially from those projected in the forward-looking
statements. Additional information concerning factors that could
cause actual results to differ materially from those in the
forward-looking statements is contained in our Annual Report on
Form 10-K and our other periodic reports filed with the Securities
and Exchange Commission.
SOURCE Alexandria Real Estate Equities, Inc.