Alexandria Real Estate Strengthens Ties with Vaxcyte for Growth
Strategic Lease Agreement with Vaxcyte, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) has solidified its commitment to fostering innovation within the life sciences sector by announcing a significant 10-year lease with Vaxcyte, Inc., a leading clinical-stage biopharmaceutical company. This agreement encompasses a total of 258,581 RSF at their flagship Alexandria Center for Life Science – San Carlos mega campus.
Reinforcing a Long-Standing Partnership
Vaxcyte, having been a key tenant since the opening of the mega campus in 2021, is set to expand its footprint significantly as part of this long-term agreement. This expansion not only highlights Vaxcyte’s confidence in Alexandria as a crucial partner but also underscores the mega campus's reputation as a premier destination for life science innovation.
Life Science Hub Features
The Alexandria Center for Life Science is designed specifically to cater to the unique requirements of life science companies. It offers top-notch Labspace infrastructure that promotes collaboration and innovation. Tenants enjoy access to essential amenities including advanced conference facilities, an expansive outdoor courtyard, and wellness-focused resources, designed to enhance overall productivity and employee satisfaction.
Growth Opportunities and Planning
This dedicated space is not merely about current operations; it signifies Alexandria’s long-term vision to provide scalable and flexible solutions in the evolving landscape of life sciences. With an impressive 739,157 RSF currently operational and an occupancy rate of 97.4%, Alexandria is poised to accommodate the growing demands of companies focused on groundbreaking medical advancements.
About Alexandria Real Estate Equities, Inc.
Founded in 1994, Alexandria Real Estate Equities, Inc. has become a leader in the niche market of life science real estate. As part of the S&P 500, Alexandria has accrued a significant market capitalization of approximately $33.1 billion, with an expansive asset base that spans across North America. The company has strategically positioned its properties in highly sought-after locations, fostering environments where scientific research can thrive, and innovative enterprises can flourish.
Contact Information
For inquiries, reach out to Joel S. Marcus, Executive Chairman & Founder at (626) 578-9693 or contact him via email at jmarcus@are.com.
Frequently Asked Questions
What is the significance of the lease with Vaxcyte, Inc.?
The lease underscores Alexandria's commitment to supporting life science innovation and reflects Vaxcyte's trust in Alexandria's facilities.
When was Vaxcyte launched as a tenant at Alexandria?
Vaxcyte has been a tenant at the Alexandria Center for Life Science since it opened in 2021.
What amenities does the Alexandria Center offer?
The Alexandria Center includes high-quality lab spaces, conference rooms, a courtyard, and wellness facilities to enhance tenant experience.
How does Alexandria support its tenants?
Alexandria provides strategic locations and resources that help tenants recruit talent and excel in their research and development efforts.
What is the market capitalization of Alexandria as of the latest report?
As of the latest figures, Alexandria has a market capitalization of approximately $33.1 billion.
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