Urban office REIT honored for industry innovation
July 22, 2019 – (RealEstateRama) – NAIOP, the Commercial Real Estate Development Association, has selected Alexandria Real Estate Equities, Inc. (NYSE: ARE) as the 2019 Developer of the Year – the association’s highest honor.
Alexandria is an urban office real estate investment trust (REIT) uniquely focused on cultivating collaborative life science, technology and agtech campuses in AAA innovation cluster locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. The company began in 1994 as a “garage startup” with $19 million in Series A capital and has grown into an investment-grade rated S&P 500® company with a total market capitalization of approximately $22 billion and a total shareholder return exceeding 1,500% since its IPO in 1997. Today, Alexandria is the recognized leader in owning, operating and developing life science, technology and agtech campuses that enable the world’s leading innovators to develop life-changing scientific and technological breakthroughs to improve human health.
Founded on the premise that life science companies are most successful when positioned in close proximity to world-renowned academic and medical institutions, cutting-edge scientific and managerial talent and strategic investment capital, Alexandria has utilized Harvard Business School Professor Michael E. Porter’s cluster theory as the foundation of its differentiated and multifaceted business model. Its four strategic verticals: real estate, venture investments, thought leadership and corporate responsibility drive the company’s purpose-driven business model and its mission to advance human health by creating clusters that enable innovators to cure disease and improve nutrition.
Alexandria’s long and proven history of creating environmentally responsible, highly dynamic and collaborative campuses for its innovative life science and technology tenants has contributed to its best-in-class reputation in its niche and the broader real estate industry. The company’s North American asset base consists of over 25 million RSF across more than 250 properties that are home to a high-quality and diverse range of leading biopharmaceutical and technology tenants, including Bristol-Myers Squibb, Eli Lilly, Pfizer, Uber, Facebook and Stripe.
From building design and development to the operations of its state-of-the-art office and laboratory facilities, Alexandria has a longstanding track record of implementing innovative approaches to sustainability; tenant and employee health and wellness; and technology and resiliency features. Since delivering one the world’s first office and laboratory spaces to receive certification under the U.S. Green Building Council’s LEED Core & Shell pilot program in 2007, Alexandria has pursued and promoted green building and operating practices for its current portfolio, which include 60 projects that are pursuing or have achieved LEED certification. This year, Alexandria expects to deliver more than 2 million square feet of Class A properties in AAA locations featuring energy-efficient, healthy workplaces, nearly 90% of which is pre-leased to life science, technology and agtech companies that range from the enterprise to startup level.
During the course of its 25-year evolution, Alexandria’s solid leadership and the strength of its business model have allowed it to adapt to the U.S.’s ever-shifting market conditions. Alexandria’s ability to foresee and acclimate to challenges in the life science and technology sectors, as well as disruptions in the real estate industry and the broader economy, has contributed to the company’s resounding success and allowed for its team to confidently develop a forward-looking plan to double revenue by 2022.
Alexandria is committed to building integrated innovation ecosystems in its cluster communities. The company’s vibrant urban campuses catalyze high-quality job creation, economic activity and sustainable urban infill development in the innovative and dynamic cities and states in which it operates. Since the company’s inception, it has also placed critical importance on supporting impactful non-profit organizations involved in scientific research, STEM education, military support services and local communities.
“At Alexandria, our dedicated team works tirelessly every day to make a better world,” said Daniel J. Ryan, Alexandria’s co-chief investment officer and San Diego regional market director. “As the first and original innovator in developing highly amenitized campuses in key life science clusters, we create environments that provide peak conditions for employee engagement, productivity and happiness. We also design our campuses to reflect our mission to advance human health and to celebrate the scientific journey toward treatments and cures. We are proud to deliver great design, sustainable outcomes and connected campuses, driven by our mission and a deep thoughtfulness about enhancing our communities, as well as preserving and enhancing value for our stakeholders over the long term. We could not be more honored to receive the NAIOP Developer of the Year award.”
“Alexandria’s strategic positioning as the leader in innovative laboratory and office space development, its ability to thrive in changing market conditions and its strong company leadership and long-term financial stability make it a standout in the industry,” said Thomas J. Bisacquino, NAIOP president and CEO. “NAIOP is proud to recognize Alexandria Real Estate Equities as the 2019 Developer of the Year.”
Alexandria is active across several NAIOP chapters, including NAIOP Massachusetts, NAIOP San Diego, NAIOP San Francisco Bay Area, and NAIOP Washington State.
About the Award
The 2019 Developer of the Year award will be presented on Wednesday, October 16, 2019, at NAIOP’s CRE.Converge conference in Los Angeles. Alexandria Real Estate Equities, Inc. was selected from an impressive slate of nominees and was evaluated by a team of seasoned developers on the following criteria: outstanding quality of projects and services; active support of the industry through NAIOP; financial consistency and stability; ability to adapt to market conditions; and support of the local community.
Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. Past recipients include Trammell Crow Company, Prologis, Majestic Realty Co. and CenterPoint Properties, among others.
NAIOP, the Commercial Real Estate Development Association is the leading organization for developers, owners, investors and related professionals in office, industrial, retail and mixed-use real estate. NAIOP provides unparalleled industry networking and education and advocates for effective legislation on behalf of our members. NAIOP advances responsible, sustainable development that creates jobs and benefits the communities in which our members work and live. For more information, visit naiop.org.